PBG relief announced by FM

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Renjith.R.s.

Renjith.R.s. (Querist)
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14 May 2020 Can anybody explain how BG relief will help contractors.

We are executing govt. contracts , as per contract clause we have to provide PBG -10% of CV till completion of DLP period.

As per new relief , how it will benefited to us.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 May 2020 No BG relief will be provided for PBG -10% of CV till completion of DLP period.
BG relief will be provided to the extent of completion of works on BGs released immediately after completion of works.

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