Section 3I in The Rajasthan Minor Mineral Concession Rules, 1986
3I. Performance Guarantee.
- 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 licence fee for the due performance of the prospecting licence in favour of the concerned Mining Engineer/Assistant Mining Engineer before execution of the deed of prospecting licence. The performance guarantee shall be adjusted against Departmental dues of the licensee on expiry or cancellation of the licence, if any, otherwise it shall be refunded to him after expiry of the licence.
