- The grantee shall submit Performance Guarantee in the form of Fixed Deposit Receipt of Nationalized Bank/Scheduled Bank or National Saving Certificate equivalent to 25% of existing dead rent for the due performance of the lease in favour of the Mining Engineer/Assistant Mining Engineer before execution of the lease. At the time of enhancement of dead rent, the Performance Guarantee shall also stand revised proportionately and lessee shall deposit the difference of Performance Guarantee within a period of 30 days. The Performance Guarantee shall be adjusted against Departmental dues of the lessee on expiry or cancellation of the lease, if any; otherwise it shall be refunded to him after expiry of the lease.]
