Loan Basis

4A.23

The exporter may obtain the required quantity of precious metal on loan basis subject to furnishing of Bank Guarantee for the precious metal and Bank Guarantee/LUT, as the case may be, for the customs duty to the Nominated Agencies for an amount as may be prescribed by the Nominated Agencies. On failure to effect exports within the period prescribed, the Nominated Agencies shall enforce the Bank Guarantee and /or LUT.