Guarantees which may be given by an authorised dealer

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..... ent in India and owed to a person resident outside India, in the following cases, namely:- where the debt, obligation or other liability is incurred by the person resident in India, - (i) as an exporter, on account of exports from India; (ii) as an importer, in respect of import on deferred payment terms in accordance with the approval granted by the Reserve Bank for import on such terms. 2 (1A) A .....

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..... of such person residing in India subject to such terms and conditions as may be stipulated by the Reserve Bank from time to time.] (2) An authorised dealer may give a guarantee in respect of any debt, obligation or other liability incurred by a person resident outside India, in the following cases, namely:- (i) where such debt, obligation or liability is owed to a person resident in India in conn .....

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..... e guarantee is covered by a counter guarantee of a bank of international repute; and (b) the guarantee shall be valid for a tenure co-terminus with the offer period as required under the SEBI (SAST) Regulations. ] (3) An authorised dealer may, in the ordinary course of his business, give a guarantee in the following other cases, namely: (i) on behalf of his customer or branch or correspondent outs .....

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..... rnment of India / State Government. Provided further that where the service importer is a Public Sector Company or a Department / Undertaking of the Government of India / State Government, no guarantee for an amount exceeding USD 100,000 or its equivalent shall be issued without the prior approval of the Ministry of Finance, Government of India. ] 5 [ (4) An authorised dealer (custodian bank), sub .....

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..... 9 dated 27/2/2009 with effect from 10/11/2008 5. Inserted vide Notification No.FEMA227/2012-RB, Dated 30/03/2012 6.Substituted vide NOTIFICATION No. 259/2013-RB February 15, 2013 before it was read as, 3 (iv) in favour of an non-resident service provider, on behalf of a resident customer who is a service importer, for an amount up to USD 100,000 or its equivalent. 7. Inserted vide N otification No .....

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