procedure for release of Bank Guarantee from Customes House

prabhakar sb (Querist) 08 December 2010 This query is : Resolved
Dear Members

Pl let me know the procedures to release the bank guarantee given to customs house while importing the machineries.

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Kirti Kar Tripathi (Expert) 08 December 2010
you can give notice to the Bank indicating your intension, but it is far the bank authority whether they accept or not. however, in case, they have any inclination to accept your request, prior to acceptance, they will sought another quaranter from the borrower and you will be released only after new guaranter is brought on records.