Joint Bank Guarantee for hotels to help agents get extended credit: FHRAI

Considering the option of Joint Bank Guarantee for hotels and discussing its viability, Gurbaxish Singh Kohli, Vice President, The Federation of Hotel & Restaurant Associations of India, says, “We are open to consider Joint Bank Guarantee option but it would require a prior and complete scrutiny and understanding of the JBG terms and conditions. For instance, the JBG  should be given by either the TA or a renowned association on behalf of the agent so that there is a guarantee for payments for the hotels and the TA can enjoy extended credit.”