Section 15(1) in The Merchant Shipping (Recruitment and Placement of Seafarers) Rules, 2016

[Cites 0, Cited by 0] [Section 15] [Entire Act]

(1)The recruitment and placement service shall submit a bank guarantee to the Director in accordance with the following table:-Table

Serial number	Number of seafarers placed on foreign flag ships	Amount of Bank Guarantee in Indian rupees
1.	Up to 50	10 lakhs.
2.	51-250	15 lakhs.
3.	251-500	20 lakhs.
4.	501-750	25 lakhs.
5.	751-1000	30 lakhs.
6.	1001 and above	40 lakhs.

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