Provisional release definition
Provisional release necessarily means that the assessee continues to be accountable for production of the goods if required. Thus a bond is prescribed in Form GST INS-04 the relevant extract of which reads as under:
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Related to Provisional release
Conditional release means a revocable modification of a
General Release has the meaning stated in Section 6.03.
Release Agreement means an agreement, substantially in a form approved by the Company, pursuant to which Executive releases all current or future claims, known or unknown, arising on or before the date of the release against the Company, its subsidiaries and its officers.
Release of Claims means the Release of Claims in substantially the same form attached hereto as Exhibit B (as the same may be revised from time to time by the Company upon the advice of counsel).
Mutual Release means the mutual release in the form attached hereto as Exhibit A.