Section 3(3) in The Information Technology (Recognition of Foreign Certifying Authorities not Operating under any Regulatory Authority) Regulations, 2013
(3)Performance Bond and in the form of Banker;s guarantee - Every applicant under this regulation shall submit a performance bond and furnish a banker's guarantee from a scheduled bank in India in favour of the Controller in such form and in such manner as may be approved by the Controller for an amount of not less than one crore of US dollars and the performance bond and banker's guarantee shall remain valid for a period of six years from the date of its submission.
