Bank Guarantee Request Letter Format to Bank Manager

Sample Template Example of Beautiful Excellent Professional Bank Gaurantee Application Request Form to Bank ( HDFC, SBI, ICICI, AXIS, BOI, PNB, Kotak Bank etc) in Word / Doc / Pdf Free Download

Application Form:

              

To

The Branch Manager,

HDFC BANK LTD.

______________________ Branch

Dear Sir,

Our SB Acount / Current account / CC Account No. 00219800521

We are interested in availing, from time to time,  facility of  Bank Guarantee subject to maximum of Rs. 85,00,000/- (Rupees Eighty Five Lakhs Only) (hereinafter individually and collectively referred to as “the Facility”) for the purpose of providing security with sales tax department with various states against security, inter alia, of term deposit(s)  (“ the said Fixed Deposit(s)”) of such amount, providing such margin on the Facility, as may be decided by you in your absolute discretion, and in consideration of your so providing the Facility, I/we hereby irrevocably authorize and instruct you,  that you have following powers in respect of the said Fixed Deposit(s)

To adjust the proceeds of any or all of the said Fixed Deposit(s) at the absolute discretion of the Bank towards realization of amounts under the Facility together with interest thereon and such other sums as may be due with respect to this Facility. The balance amount if any remaining, post such adjustment, from the said Fixed Deposit(s) shall be returned to me/us;

That the said Fixed Deposit(s) may be renewed by the Bank without recourse to us  for such period and on such terms as may be decided by the Bank  and to treat this letter as a continuing authority and instruction as mentioned above for the renewed Fixed Deposit so as to cover the tenure of the Facility, both original and extended;

In the event that the amount owed to the Bank by virtue of the Facility either by devolvement or by usage,  is more than the amount of my/our Fixed Deposit (s) lying with the Bank, then we hereby authorize  the Bank  to adjust and set off differential amount  or such other sums which are due thereon  from the Balance standing to the credit  of my/our Savings/Current Account or any other Account that we may have with the Bank either now or hereafter;

1. The Bank  at its sole discretion may from time to time ask for additional documents, including, but not limited to security/indemnity instruments, if it deems necessary and I/we unconditionally agree and undertake to provide the same to the Bank forthwith.

2. Validity of this limit upto : ______________

            In pursuance of the above, we hereby confirm that-

i           The  Facility would be utilized for the purpose stated herein;

ii         There are no legal or regulatory restrictions on issue of this letter of authority;

iii        The entire funds in any of the said Fixed Deposit(s) are and shall always be free from any charges, liens or encumbrances, of any nature whatsoever;

iv       The instructions for set off as mentioned hereinabove and the authority hereby conferred upon the Bank are unconditional and irrevocable;

v         This letter shall be absolutely binding upon us and our heirs, executors, liquidators, trustees, administrators/successors and any other party lawfully acting on my/our behalf or claiming under me/us;

vi. The Fixed Deposit (s) shall be released by the Bank only on receipt of discharge letter duly signed by the beneficiary/original bank guarantee from the beneficiary[1].

Notwithstanding anything contained in any other document executed in favor of the Bank, all the above undertakings, instructions and confirmations contained herein  shall prevail to all intents and purposes.

I/We Certify that the information hereinabove and/or otherwise furnished in connection with my/our application for the Facility   is true and correct. We shall comply with all terms and conditions as may be stipulated by the Bank from time to time, including providing further security as may be specified by the Bank.

I/We hereby declare that this application for the Facility is being made under proper authority and that all necessary approvals and authorizations have been obtained  under my/our constitution document(s) and the applicable law(s) governing us  in this regard. 

·Table of Fixed Deposits with the Bank

Name of Depositor Type of Security A/c No./ Receipt No.Date of issue Date of Maturity Amount of Deposit (Rs.) Rate of Interest (% p.a.)

Dated this…………………….. day of ………………….

Yours faithfully

Date:

Place:

From: Mr./ Mrs./ M/s ………………………………..

Address: ………………………………………………

               ………………………………………………

           ………………………………………………

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[1]     This clause is applicable only in case of BGs