(1) The Government shall charge a minimum of 1.00 per cent of the amount of Guaranteed loan as guarantees commission, which shall not be waived under any circumstances. (2) Depending on the default risk of the project the Government may, by notification, specify commission at an enhanced rate. Note- Default risk” means the probability of default by the borrower on whose behalf the Government Guarantees is given, depending on the amount borrowed, the type of industry and the economic situations.
Section 5: Guarantees Commission
The Uttrakhand Ceiling On Government Guarantee Act, 2016State Act of Uttarakhand · Act 41 of 2016
Where this provision sits
| Act | The Uttrakhand Ceiling On Government Guarantee Act, 2016 |
|---|---|
| Section | 5 |
| Marginal note | Guarantees Commission |
| Jurisdiction | State of Uttarakhand |
| Status | In force as published by the source |
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