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No.
PG-150/58600
M.S. Electricity Board,
Mercantile Bank Bldg.,
Fort. Bombay-1
Dtd: 13th Oct. 1964. |
Departmental
Circular No. 62
(Commercial)
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Sub
:Acceptance of Security
Deposit in the form of Bank
Guarantee for hire of Board's
equipment. |
A
point has been railed recently whether Banker's Guarantee
in lieu of deposit towards cost of equipment given an
hire or towards hire charges can be accepted as in the
cases of Security Deposits from Contractors or suppliers
and the security deposits from consumers towards payment
of energy bills. This is therefore to clarify that there
is no objection to accept Banker's Guarantee in lieu
of deposit towards cost of equipment given on hire or
towards hire charges. The field officers should however
ensure that the Banker's Guarantee is renewed from time
to time and will in advance of the expiry of the guarantee
period.
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