New format of Bank Guarantee, to be executed with DGFT, for recognition as Pre-Shipment Inspection Agency (PSIA).

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....Appendix 2N-1 in the Appendices and Aayat Niryat Forms of the Handbook of Procedures, 2015-20, as annexed to this Public Notice, prescribing a new Bank Guarantee Format, to be executed with DGFT, for recognition as Pre-Shipment Inspection Agency. 2. Effect of this Public Notice: For recognition of PSIA, Bank Guarantee is to be executed with DGFT. Bank Guarantee Format for the same is hereby notified. (Pravir Kumar) Directorate General of Foreign Trade E-mail:[email protected] [Issued from File No.01/53/162/Misc/PSIA/AM15/S-5/IC]   Appendix- 2N-1 Bank Guarantee Format to be executed for recognition as Pre-Shipment Inspection Agency (Refer paragraphs 2.55 and 2.56 of HBP and condition at S.No 9 of ANF-2L) To, T....

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.... an amount not exceeding Rs. 10,00,000/US$ 20000 ( indicate the applicable amount ) against any loss or damage caused to or suffered by the Government by reason of any failure on the part of the applicant for violation of para 2.55 & 2.56 of the Handbook of Procedures, 2015-20, or any other law in force. 2. We ___________________ (indicate the name of Bank) do hereby undertake to pay the amounts due and payable under this guarantee without any demur or protest, merely on a demand from the Government stating that the amount claimed is due by way of loss or damage caused or suffered by the Government by reason of breach by applicant for PSIA recognition or for violation of para 2.55 & 2.56 of the Handbook of Procedures, 2015-20, or any oth....