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Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Public Notice No. 21/2015-20
New Delhi: Dated 23rd June 2015
Subject:- Format of Bank Guarantee, to be executed with DGFT, for
recognition as Pre-Shipment Inspection Agency (PSIA).
In exercise of powers conferred under paragraph 2.04 of the Foreign Trade
Policy, 2015-20, the Director General of Foreign Trade hereby inserts 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]
Annexure to Public Notice No.21/2015-20 dated 23rd June 2015
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,
The President of India
(acting through the Director General of Foreign Trade)
In consideration of the President of India, acting through the Director General
of Foreign Trade (which expression shall be deemed to include the Joint Director
General of Foreign Trade/Deputy Director General of Foreign Trade), or any other
authority for the time being authorised to perform the duties of Joint Director
General of Foreign Trade / Deputy Director General of Foreign Trade, Department
of Commerce, Ministry of Commerce & Industry, Government of India, New Delhi
(hereinafter referred to as the Government) , the Bank Guarantee is submitted by
M/s._______(full expanded name, e-mail I.D,
Phone No. / Fax. No. of the applicant with complete address) for recognition as
a Pre-Shipment Inspection Agency (hereinafter referred to as PSIA), by the
Government, under Appendix 2G of Appendices and Aayat Niryat Forms of FTP,
2015-20 as may be amended from time to time, on the terms and conditions
specified in the Handbook of Procedures, 2015-20, which term inter alia
stipulates production of a Bank guarantee for Rs.10, 00,000 (Rupees Ten Lakh
only) or US$ 20000 (US dollars twenty thousand only) We _____(indicate the name, e-mail I.D, Phone No./Fax. No, full address and other
particulars of the Bank) (hereinafter referred to as Bank) at the request of the
applicant for PSIA do hereby unconditionally and irrevocably undertake to pay
the Government 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.
- 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 other law in force by the PSIA. Any such
demand made on the Bank shall be conclusive as regards the amount due and
payable by the Bank under these presents.
- We undertake to pay to the Government any money so demanded, notwithstanding
any dispute or disputes raised by the PSIA, in any suit or proceeding pending
before any court or Tribunal relating thereto and our liability under these
presents being absolute and unequivocal.
- We,_________________(indicate the name of Bank) further agree that the
guarantee herein contained shall remain in full force and effect during the
period that would be taken for the performance of the said PSIA recognition and
that it shall continue to be enforceable till the PSIA recognition by the
Government, as notified in Appendix 2G of Appendices and Aayat Niryat Forms of
FTP, 2015-20, provided, however, unless a demand or claim under this guarantee
is made on us in writing on or before the ___________( period four years from
date of recognition) . We shall be discharged from all liability under this
guarantee thereafter.
- We ______________ (indicate the name of bank), further agree with the
Government that the Government shall have the fullest liberty without our
consent and without affecting in any manner our obligations hereunder (i) to
vary any of the terms and conditions of the duties & responsibilities of the
PSIA.That this shall be a continuing Bank Guarantee and shall not be discharged
by any change in the constitution of the PSIA or of the Bank. That the guarantor
will not revoke the guarantee without prior written consent of the Government.
"Dated the_______________day of____________year_________ for ______indicate the name of the Bank)"
(Signature)_____
______________
(Name & Designation of the Bank officer
with employee code & complete address)
Accepted by me on behalf of the President of India.
( )
Athorised representative of DGFT
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