KISHAN DUTT RETD JUDGE
(Expert) 06 October 2021
Dear Sir, 1) The Developer should give Bank Guarantee of 20% price of Redevelopment Project. 2) A bank guarantee is essentially a promissory provision on a loan indicating that if the borrower of the loan defaults on repayment, the bank will cover the amount of default.
You have to sign the format provided by the concerned.