BANK GUARANTEE

To

Asst. Commissioner of Customs.

Export Promotion Cell – Central
JSS Towers, 100 ft Ring Road,
Banashankari 3rd Stage,
Bangalore 560 085

Bank Guarantee Number: 5574600391_GL11895

Amount of Guarantee: Rs. XXXXX)

In consideration of the President of India (hereinafter called “the Government”) having agreed to
permit M/s. NNNNNNNNNNN, ……address……Bangalore – 560XXX (here in after called the “said
Obligors”) to import and domestically source duty free, various goods required for Software Development
and Services for export in terms of their approval to establish a 100% EOU (Export Oriented Unit), vide
their approval Number No xxxxxxxxxx:STPI-B/EXIM/STP/F-235 dated dd/mm/yyyy by The Director, STPI,
Bangalore and under the terms of the Scheme and as Surety for the due fulfillment by the obligors of the
provisions of Section 58 and Section 65 of the Customs Act 1962, we hereby issue a Bank Guarantee of
a sum of Rs.xxxx/- (Rupees xxxxxx), We Citibank N.A. 506-507, Level 5, Prestige Meridian 2, 30, M.G.
Road, Bangalore - 560001 do hereby undertake to pay to the Government an amount not to exceed Rs.
xxxxx/- (Rupees xxxxxxx Only) against any loss or damage caused to or would be caused to or
suffered by the Government by reason of any breach by the obligors of any of the said provisions of the
Customs Act, 1962.

We, Citibank N.A., India Branches, a national banking association duly constituted and in existence in
accordance with the laws of the United States of America now in force, having its principal office in India
at Citigroup Centre, C-61, Bandra-Kurla Complex, Bandra (East), Mumbai- 400 051 and, for the purposes
of this Guarantee, acting through its branch, namely Citibank N.A., Bangalore branch presently situated at
506-507, Level 5, Prestige Meridian-2, 30, M.G. Road, Bangalore – 560 001, where claims are to be
lodged and are payable (hereinafter referred to as "Citibank N.A., Bangalore / Citibank N.A. / Bank /
Guarantor" which term shall mean and include, unless to repugnant to the context or meaning thereof, its
successors and permitted assigns) do hereby undertake to pay the amounts due and payable under this
Guarantee without any demur, merely on a receipt of a written demand from the Government stating the
amount claimed is due by way of loss or damage caused to or would be caused to or suffered by the
Government by reason of any breach by the said obligors failure to perform the said provisions of the
Customs Act, 1962. Any such demand on the Bank shall be conclusive as regards the amount due and
payable by the Bank under this guarantee. However our liability under this guarantee shall be restricted
to an amount not exceeding Rs.xxxxx/- (RupeesXXXXXX.

We Citibank N.A. 506-507, Level 5, Prestige Meridian 2, 30, M.G. Road, Bangalore – 560001further
agree that the guarantee herein contained shall remain in full force until all the conditions of the
provisions of the Customs Act, 1962 between the Government of India and the obligors are fulfilled and
that it shall continue to be enforceable till all the dues of the Government by virtue of the said provisions
of the Customs Act, 1962, have been fully paid and its claims satisfied or discharged or till conditions of
the said provisions of the Customs Act, 1962 have been fully and properly carried out by the said obligors
and accordingly discharges the guarantee or till the expiry of the guarantee that is xxxxxx, whichever is
earliest. We shall make the said payment to the Government on demand in writing without demur not
withstanding that the obligors are not called upon in the first instance to pay the Government the said
amount under the provisions of the Customs Act, 1962. However, any claim under this guarantee has to
reach us at our counters at we Citibank N.A. 506-507, Level 5, Prestige Meridian 2, 30, M.G. Road,
Bangalore - 560001in writing on or before xxxxxx, beyond which date we are discharged of all our
liabilities hereunder.
We Citibank N.A. 506-507, Level 5, Prestige Meridian 2, 30, M.G. Road, Bangalore - 560001, further
agree with the Government that the Government shall have the fullest liberty without our consent and
without affecting in any manner our obligations hereunder to vary any of the terms and conditions of the
said provisions of the Customs Act, 1962 or to extend the time of performance by the said obligors from
time to time or to postpone for any time of the powers exercisable by the Government against the said
obligors and to forbear or enforce any of the terms and conditions relating to the said provisions of the
Customs Act, 1962, and we shall not be relieved from our liability by reason or any such variation or
extension being granted to the said obligors or for any forbearance, act or omission on the part of the
Government or any indulgence by the Government to the said obligors or by any such matter or thing
whatsoever which under the law relating to sureties would but for this provision have the effect of so
relieving us.

The CitibankN.A. 506-507, Level 5, Prestige Meridian 2, 30, M.G. Road, Bangalore - 560001, hereby
further covenant and declare that this guarantee shall remain in force till xxxxxx,and if the provisions of
the Customs Act, 1962, is not fully discharged within the aforesaid period the Bank may, at its sole
discretion, renew the guarantee for a further period upon receipt of instruction from the obligor.

It is further declared that this is an unconditional guarantee and on the event of vacation of provisions of
the Customs Act, 1962, or in the event of the decision adverse to the said obligors given by the
Government of India or discharged of the provisions of the Customs Act, 1962, whichever is earlier, we
would make the payment to Government of India on receipt of a written demand on or before claim expiry
date without demur not withstanding that the said obligors are not called upon to pay the said amount
under this guarantee. However, any claim under this guarantee has to reach us on or before xxxxxxx

Notwithstanding anything stated herein about our liability under this guarantee is restricted to Rs.xxxxx-
(Rupees xxxx and shall remain in full force till xxxxxxunless a claim or demand is made on us and
received by us at our counters at Citibank N.A. 506-507, Level 5, Prestige Meridian 2, 30, M.G. Road,
Bangalore - 560001in writing on or before xxxxxx all your rights under this on guarantee shall be forfeited
and we shall be discharged from all our liabilities.

Notwithstanding anything contained hereinabove

a. Our liability under this guarantee shall not exceed Rs. xxxxx/- (Rupees xxxx xxxxxx Only)
b. The guarantee shall be valid up to xxxxxx and
c. It is a condition to our liability for payment of the guaranteed amount or any part thereof arising
under this bank guarantee that we receive a valid written claim or demand for payment under this
guarantee on or before xxxxxxx failing which our liability under the bank guarantee will
automatically cease.

It is a condition to our liability for payment of the guaranteed amount or any part thereof arising under this
bank guarantee that we receive a valid written claim or demand for payment under this guarantee on or
before xxxxxxx failing which our liability under the bank guarantee will automatically cease.

We, CITIBANK N.A hereby further covenant and declare this guarantee shall remain in force till xxx , and
the bank undertakes to renew the Bank Guarantee from time to time on its own till the matter for which
the bank guarantee is being furnished is finally decided and till finalization of matter by beneficiary.”

We, CITIBANK N.A also further covenant and declare that if the bank guarantee Is not renewed from time
to time for a further period of time to the Customs not less than 30 (thirty) days prior to the expiry of this
guarantee or the renewal of the said guarantee so as to keep the same valid and subsisting till the final
assessment, then the entire amount remaining due shall become forth with due and payable and the
Bank shall pay to the beneficiary/Government of India merely on demand.
Please note that you may, if you so require, independently seek confirmation with Citibank N.A., 506-507,
Level 5, Prestige Meridian - 2, 30, M.G. Road, Bangalore – 560 001that this Guarantee has been duly
and validly issued.

Notwithstanding anything to the contrary contained herein, the liability of Citibank, N.A., Bangalore under
this guarantee is restricted to a maximum total amount of Rs.xxxxx/- (Rupees xxxx Only) and shall
remain in force until xxxxx

Our liability pursuant to this guarantee is conditional upon the receipt of a valid and duly executed written
claim, in original, by Citibank N.A., 506-507, Level 5, Prestige Meridian-2, 30, M.G. Road, Bangalore –
560 001, delivered by hand, courier or registered post, prior to close of banking business hours on or
before xxxxxx failing which all rights under this guarantee shall be forfeited and Citibank, N.A., Bangalore
shall stand absolutely and unequivocally discharged of all of its obligations hereunder. This Guarantee
shall be governed by and construed in accordance with the laws of India and competent courts in the city
of Bangalore shall have exclusive jurisdiction.

Kindly return the original of this guarantee to Citibank N.A., 506-507, Level 5, Prestige Meridian-2, 30,
M.G. Road, Bangalore – 560 001 upon the earlier of (a) its discharge by payment of claims aggregating to
Rs.xxxx/- (Rupees xxxxx Only)or (b) fulfillment of the purpose for which this guarantee was issued; or
(c) xxxxx

All claims under this guarantee will be made payable at Citibank N.A., 506-507, Level 5, Prestige
Meridian - 2, 30, M.G. Road, Bangalore – 560 001.