Scribd Logo
Upload

Welcome to Scribd!

  • Sec 28 Customer Dec For BG

    Uploaded by

    Sales 1
    48 views1 page
    The applicant confirms and declares that they are aware the bank is required to provide an additional 1 year claim period over the expiry date of the bank guarantee. This authorizes the bank to block the applicant's limit and hold any margin or security provided during this additional claim period. The applicant also confirms that all documents and security submitted will remain in effect until the original bank guarantee and discharge letter are received. Finally, the applicant acknowledges the bank can debit their account for commission during the additional claim period.

    Original Description:

    Original Title

    SEC 28 CUSTOMER DEC FOR BG

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The applicant confirms and declares that they are aware the bank is required to provide an additional 1 year claim period over the expiry date of the bank guarantee. This authorizes the bank to block the applicant's limit and hold any margin or security provided during this additional claim period. The applicant also confirms that all documents and security submitted will remain in effect until the original bank guarantee and discharge letter are received. Finally, the applicant acknowledges the bank can debit their account for commission during the additional claim period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    48 views1 page

    Sec 28 Customer Dec For BG

    Uploaded by

    Sales 1
    The applicant confirms and declares that they are aware the bank is required to provide an additional 1 year claim period over the expiry date of the bank guarantee. This authorizes the bank to block the applicant's limit and hold any margin or security provided during this additional claim period. The applicant also confirms that all documents and security submitted will remain in effect until the original bank guarantee and discharge letter are received. Finally, the applicant acknowledges the bank can debit their account for commission during the additional claim period.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Annexure to Bank Guarantee (BG) Application Form

    Date_______________

    The Branch Manager


    HDFC Bank Limited
    __________________

    Dear Sir,

    Bank Guarantee of Rs …………………………………………………


    Favouring…………………………………………………………………….
    Valid till……………………………………………………………………….

    With reference to my/our application of even date for issuance of a Bank Guarantee as per
    above details, I/We confirm
    and declare as under:

    I am/ We are aware that Bank is required to provide 1 year additional claim period over
    the expiry date or the claim period as mentioned in the Bank Guarantee, whichever is
    later as per law. Accordingly Bank is liable to make payment to Beneficiary if the claim
    is made within the above additional claim period. Hence I/we authorise the Bank to
    block/continue the limit and hold margin/security provided by us during the additional
    claim period.

    I/We further confirm that all the documents/fixed deposit/margin submitted/furnished by


    us for issuance of the Bank Guarantee in favor of the Bank will continue to be in force
    and effect and shall be binding on me/us till I/we submit the Original Bank Guarantee and
    discharge letter from the Beneficiary to the Bank for cancellation.

    I/We acknowledge and agree that the Bank shall be entitled to recover the commission for
    the additional claim period by debiting my/our account.

    ____________________________________________ ____________________________________
    Signatures of Applicant/Authorised Signatory/ies Signatures of the FD Holder/s
    (Stamp to be affixed by Firm/Company) (Stamp to be affixed by Firm/Company)

    You might also like