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Ministry of communications and information technology department of telecommunications
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| bet | 30/33 | | Sana | 23.03.2021 | | Hajmi | 152.5 Kb. | | #13402 |
13.6 PERFORMANCE BANK GUARANTEE(PBG):
A performance bank guarantee of Rs. 2.00 crores for category ‘A’ Service Area, Rs. 20.00 lakhs for each category ‘B’ Service Area and Rs. 3.00 lakhs for each category ‘C’ Service Area valid for two years from any Scheduled Bank in the prescribed form (Schedule ‘D’ of the draft Licence Agreement) shall be submitted alongwith the application for each service area. The licensee will be liable to extend the validity of Performance Bank Guarantee two months prior to its date of expiry on its own without demand from the Licensor for a further period of one year on year to year basis. On any failure to do so which failures shall amount to the breach of this Licence, the performance bank guarantee will be encashed without giving any notice. This is without prejudice to any other action that may be taken under the terms and conditions of the licence.
13.7 LICENSOR, without prejudice to its rights to any other remedies, is free to encash the Performance Bank Guarantee in part or in full, in case of any breach of terms and conditions of the licence by the LICENSEE including non-payment of licence fee etc.
13.8 Breach or non-fulfilment of licence conditions may come to the notice of the LICENSOR through complaints or as part of regular monitoring. Wherever considered necessary, LICENSOR will conduct an inquiry to determine whether there has been any breach of the terms and conditions of the licence. The LICENSEE will be given an opportunity of hearing before any action adverse to his interest is taken.
The LICENSOR shall decide in each case the penalty to be levied for any breach of the terms and conditions of the Licensce. If the penalty is not discharged or complied with , the LICENSOR has the right to encash, in part or in full, the Performance Bank Guarantees.
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