However, Members would be required to submit renewed Bank Guarantee Confirmation
atleast 15 days prior to the expiry of Bank Guarantee. Unless valid renewal of Bank
Guarantee is submitted to the Exchange atleast 15 days prior to expiry of Bank Guarantee, the Member would not be entitled to any exposure or benefit on such Bank Guarantee during such last 15 days. Members may opt to provide collateral security in the form of Bank Guarantee (BG) towards Base Capital and Additional Base Capital. The Bank Guarantee must be in favor of National Commodity and Derivatives Exchange Limited as per the specified formats and as given in Annexures and from the approved banks.