Rate Instruction No 26 of 2002
Government
of India
Ministry of Railways
Railway Board
| NO. TC-I/95/104/3 |
New Delhi, dated .4.2002 |
The General Managers
All Indian Railways
Sub:
Payment of freight through Credit Note cum
Cheques by the consignors at the booking
points – furnishing of
Security Deposit.
Ref: Board’s letter of even number dated 13.4.2000.
Vide Board’s letter of even number dated 13.4.2000, Board had
issued instructions valid up to 16.4.2002 extending facility of payment
of freight by selected Public Sector Undertakings through Credit Note
cum Cheques without the need for furnishing of Security Deposit or Bank
Guarantee, but on furnishing of a Security Bond.
2. This policy has been further reviewed and it has now been decided
to extend this scheme for a further period of 2 years i.e. up to
16.4.2004. All the relevant
conditions of the original scheme remain unchanged.
3. The facility of Security Bond under the CNCC arrangement should
be withdrawn by the Zonal Railways in case more than two incidents of
dishonoring of cheques and non payment of dues with surcharge within one
month occur in quick succession. In
rare incidents of return of cheques the facility need not be withdrawn
if the party had subsequently paid the dues with surcharge. However, in such cases the Chief Executive of the concerned
Public Sector undertaking should be apprised of the bouncing of the
Cheque for taking remedial measure.
4. I order to enable a further review of this policy, all the Zonal
Railways are requested to send their comments on the implementation of
the scheme along with the comments of their associate Finance to
Board’s office by the 1st week of Dec. 2003.
5. Para 2 & 3 of this letter issue with the concurrence of the
Finance Department in the Ministry of Railways.
(Shiv Dan Singh)
Director Traffic Comml. (Rates)
Railway Board
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