Corporate Guarantee

2.20.1

A Status holder or a PSU may also submit Corporate Guarantee in lieu of Bank Guarantee/LUT in terms of the provisions of relevant Customs Circular in this regard. In case of a group company, if one company of a Group is a status holder, Corporate Guarantee may be given for another company by this company, which is not a status holder.

(Above Para 2.20.1 has been amended vide PN. NO. 24/2007, DT. 23/07/2007)

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A Status holder or a PSU may also submit Corporate Guarantee in lieu of BG / LUT, for import and domestic sourcing as prescribed. For a non-status holder group Company, a status holder can give such guarantee.]