Application cum sanction letter for

Bank Guarantee/SBLC against Banks Fixed Deposits

Place:
IDFC Bank Limited; Date:
_____________
_____________

Dear Sir,
I/We request you IDFC Bank Limited (the Bank) to grant a financial limit of 10,00,000 (Rupees Ten Lakhs only) for 6
Months plus claim period/cooling period (if applicable) by way of Bank Guarantee/SBLC at the applicable commission @
rate of ______ per annum along with the Processing Fee, Documentation Charges, Cancellation Charges and other
fee/charges etc. as may be intimated by the Bank which will be paid by me/us at the time of disbursement/granting the said
limit. The Bank Guarantee/SBLC Limit will be secured against under mentioned Fixed Deposits placed with your Branch
at Prabhadevi as security for all moneys now owing or which shall at any time hereafter be owing from me / us in any
manner what–so–ever solely or jointly with others
Particulars of Fixed Deposit(s)
Fixed Deposit (FD) FD favoring Start Period Due Rate of Interest Principal
Account Nos Date Date on FD Amount

1. I /we hereby authorize you to convert foreign currency Fixed Deposits on due date(s) by applying IDFC Bank TT
buying rate ruling on that date and adjust the proceeds towards the relative Bank Guarantee/SBLC Limit and balance,
if any, be paid to me / us. (Not applicable for domestic deposits).
2. The Bank Guarantee/SBLC Limit is required for the purpose of providing last mile deliveries to cover the
delivery stock, return stock, losses, wrong pick-ups (in case of returns), cash and assets of Instakart.
3. I/we hereby agree, declare and confirm that the Applicable Commission, interest rate etc. are subject to variation in
consonance with RBI directions, statutory and regulatory requirements, conditions of money market, availability of
loanable funds, and internal policy of the Bank. All charges/ fee paid to the bank pursuant grant of facilities hereto are
non-refundable.
4. I/we hereby undertake and agree that the Bank in its sole discretion shall have a right to revise the Applicable
Commission as the Bank may deem fit and appropriate, in case of any increase / variation in the un-hedged foreign
currency exposure.
5. I / We offer the aforesaid Fixed Deposits as security for the above the Bank Guarantee/SBLC Limit. Please
accept and mark a lien thereon in favor of the Bank as security for repayment of the Bank Guarantee/SBLC Limit
together with interest and all other monies payable by me/ us to the Bank under the Bank Guarantee/SBLC Limit.
6. The Fixed Deposits receipt/s (in physical form and/or in electronic form) duly discharged by me/ us in favor of
the Bank is / are being provided as security for repayment of the said Bank Guarantee/SBLC Limit with interest and
all other monies payable by me/ us to the Bank under the Bank Guarantee/SBLC Limit.
7. I / We declare and agree that said Fixed Deposits are free from encumbrances and are my / our sole property.
8. I/ we declare that my / our business is carried on for the benefit of HUF and the Karta of HUF is availing the said
Bank Guarantee/SBLC Limit for the benefit of HUF (only applicable to HUF Cases).

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9. I / We authorize the Bank, to renew the Fixed Deposit(s), at its discretion, for such period the Bank may deem fit
and continue to hold it as security for the said the Bank Guarantee/SBLC Limit renewed from time to time.
10. I/ We agree that the tenure of the said the Bank Guarantee/SBLC Limit shall not exceed the date of maturity of
the Fixed Deposit/s/renewed Fixed Deposit/s. However, I/ we agree that the Bank has every right to
terminate/withdraw/discontinue the said the Bank Guarantee/SBLC Limit at any time without any reason and notice.
11. I/ We agree that the Bank Guarantee/SBLC issued by the Bank shall only as per the provisions of applicable Law
and the Bank shall issue BGs only in a format acceptable to the Bank
12. I/ We further agree that in case of bid bond / earnest money deposits / advance payment / retention money Bank
Guarantees, stipulated under project exports or if the Bank Guarantees are issued under any Export Promotion Capital
Goods Scheme (“EPCGS”), the Bank shall be entitled to obtain counter guarantees from Export Credit Guarantee
Corporation (“ECGC”) or similar authority, at my/our costs and expenses.
13. I/we hereby agree and confirm that if for any reason, whatsoever the liability of the Bank extends beyond the
Availability Period specified in the Bank Guarantees or if the Bank is prevented by any action initiated by the
Borrower/any other person or otherwise from making payment of part or whole of the guaranteed amounts to the
beneficiary of the Bank Guarantees, I/we will also be liable to pay the commission for the period for which the Bank
remains liable under the Bank Guarantees and/or the period for which the payment of the guaranteed amount /
discharge from the guaranteed obligations has been delayed.
14. I/we will provide / deposit immediately on demand and without demur, additional acceptable security to the
Bank and/or sufficient amounts by way of 105% cash margin on the outstanding amounts of the Bank Guarantees,
which in the Bank’s opinion are likely to be invoked due to non / inadequate fulfillment of obligation, in particular of
performance undertaken under the Bank Guarantees. The Borrower shall accept the Bank’s judgment on the
likelihood of guarantee obligation being unfulfilled, as final and binding;
15. In the event of the interest rate on the principal amount of the financial assistances guaranteed by the Bank
increasing for any reason whatsoever beyond the percentage specified and consequentially the liability and obligation
of the Bank under the Bank Guarantees increasing, I/we indemnify and keep indemnified the Bank to the extent of
additional interest liability paid in such form as may be determined by the Bank;
16. I/we agree that the Bank shall be entitled to agree any clause including right of waiver of surety ship/guarantor
under any of the Bank Guarantees to be issued and I/we will be liable to pay the amount settled by the Bank to the
beneficiary.
17. I/we will not question any decision of the Bank in settling the Bank Guarantees beyond its validity period due to
postal delay of invocation or for any other reason whatsoever and I/we will be liable to settle the developed amount
immediately.
18. I/we further agree that if any extension or renewal of any of the Bank Guarantees is required, the same shall be
renewed or extended by the Bank in its own discretion and in the event the Bank desires not to renew or extend any of
the Bank Guarantees, the Borrower agrees and undertakes to obtain, within 30 days from the expiry of original term
of the Bank Guarantees, return of the Bank Guarantees in original, from the beneficiaries or obtain written
confirmation from the beneficiaries that the Bank Guarantees stand discharged, failing which I/we will deposit with
the Bank cash equivalent to the amount of Bank Guarantee and pay interest, commission, charges as applicable till the
Bank is discharged from its obligation under the Bank Guarantee issued to the satisfaction of the Bank. The Bank
shall be entitled to renew any Bank Guarantee and extend the period of the Bank’s liability without reference to the
Borrower if under the Bank Guarantees the Bank has undertaken to extend such period to the beneficiary/ies.

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19. I/we further agree and undertake to pay the legal costs of the preparation of financing/security document, creation of
security etc. I/we will not be entitled to raise any question or objection of whatsoever nature in relation to these
transactions as to the correctness of the amount claimed from me/us in that behalf or otherwise .
20. I/we further agree that the Bank shall at all times be entitled without reference and/or the consent to me/us, to
vary and modify the terms of the said Limits which may include full margins as well as increase in pricing and the
execution of the Bank Guarantees by the Bank on behalf of me/us and shall extend to and cover the expenses
reflected by any additional liability arising on me/us in consequences of any such variation or modification. Further,
the Bank shall be at liberty without in any way effecting my/ our liability hereunder and for which I/we hereby give
my/our consent to the Bank to vary the term or terms recorded in any of the Bank Guarantees/guarantees or to release
or discharge or to do any act or omission the legal consequences of which may be a discharge to me/us. My/our
obligation shall be a continuing one and shall not be determinable or assignable by me/us at any time.
21. I/We irrevocably authorize the Bank to debit my / our SB/ CA / CC account No 10143321518 with the Bank
towards periodical interest, penal interest, charges and shortfall in margin.
22. In case of default on my/our end, the bank shall be at liberty to realize that said Fixed Deposits prematurely to
adjust the outstanding in my / our said the Bank Guarantee/SBLC Limit without any reference, to me / us. After such
adjustment, if any balance is payable by me / us, I/ we undertake to pay the same immediately without prejudice to
your right of lien / set off in respect of any other accounts with you either individually , jointly or severally.
23. I / We hereby agree that in case of default or the Bank Guarantee/SBLC Limit is not repaid on demand, the Bank
may take all steps without any notice or reference to me / us, necessary to prematurely encash the Fixed Deposit
hereby offered or held at any time, appropriate the net amounts towards discharge of all my / our liabilities in the
Bank Guarantee/SBLC Limit with the Bank. Should there be any shortfall, I / We hereby undertake to pay the same
along with interest at the rate specified in the sanction, on demand by the Bank without any demur and the Bank may
reserve its right to initiate appropriate proceedings against me / us for recovery of its dues from me / us.
24. I / We hereby agree that in case Bank prematurely closes Fixed Deposits to adjust the outstanding in my / our
said the Bank Guarantee/SBLC Limit at my / our request or at the liberty of Bank to clear any overdue in my / our the
Bank Guarantee/SBLC Limit, interest on such prematurely withdrawn deposits shall be payable as per norms of the
Bank applicable to such premature closures. However at the time of premature closure of such Fixed Deposit, any
amount/dues in the form of commission, interest levy, tax etc. chargeable on the Bank Guarantee/SBLC Limit shall
remain unchanged.
25. I/ We hereby undertake not to withdraw or close/pre-close or mark any lien/charge the Fixed Deposit/s until the
Bank Guarantee/SBLC Limit is discharged/ the amount thereof is adjusted / repaid fully along with interest and other
monies payable by me / us under the Bank Guarantee/SBLC Limit.
26. If the Bank is required to any amount the under the Bank Guarantee/SBLC Limit including interest, costs,
charges etc. thereof or incur or called upon to incur any amount under the Bank Guarantee/SBLC Limit, I/we will,
without questioning the reasonableness or validity or otherwise of any payment made or required to be made by the
Bank under the Bank Guarantee/SBLC Limit, forthwith pay to the Bank, all amounts payable or as the case may be,
paid by the Bank, including without limitation, all costs, charges and expenses whatsoever payable or paid, suffered
or incurred by the Bank in respect of or in relation to or arising out of the obligations undertaken under the Bank
Guarantee/SBLC Limit (collectively, the “Devolved Amounts") and until such payment by me/us, same shall unless
otherwise agreed to by the Bank, be deemed to be on demand loans to me/us carrying interest at the rate of ____%
from the date of payment by the Bank till repayment of the same to the satisfaction of the Bank.

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27. I/we hereby agree that all payments made by the Bank in foreign currencies may be, at the option of the Bank,
converted into Indian rupees with reference to the actual cost to the Bank (including all commission or other bank
charges and out-of-pocket expenses) in remitting the foreign currencies.
28. I/we hereby agree that the Bank may, in its discretion and subject to no Event of Default or Potential Event of
Default having occurred and at my/ our request, rollover/extend/ continue the Bank Guarantee/SBLC Limit or any
part thereof for such period and in such event all terms as applicable for the Bank Guarantee/SBLC Limit shall
mutatis mutandis apply for the rollover/extended portion of the Bank Guarantee/SBLC Limit or such other terms as
may be decided by the Bank from time to time.
29. I/we further agree that if any extension or renewal of any of the Bank Guarantee/SBLC is required, the same
shall be renewed or extended by the Bank in its own discretion and in the event the Bank desires not to renew or
extend any of the Bank Guarantee/SBLC, I/we agree and undertake to obtain, within 30 days from the expiry of
original term of the Bank Guarantee/SBLC, return of the Bank Guarantee/SBLC in original, from the beneficiaries or
obtain written confirmation from the beneficiaries that the Bank Guarantee/SBLC stand discharged, failing which
I/we will deposit with the Bank cash equivalent to the amount of the Bank Guarantee/SBLC and pay interest,
commission, charges as applicable till the Bank is discharged from its obligation under the Bank Guarantee/SBLC
issued to the satisfaction of the Bank. The Bank shall be entitled to renew any Bank Guarantee/SBLC and extend the
period of the Bank’s liability without reference to the Borrower if under the BGs the Bank has undertaken to extend
such period to the beneficiary/ies.
30. I/ We agree that I/ we shall not change my / our constitution without the prior written permission of the Bank and
also agree to inform the Bank about any change in my / our constitution or status consequent upon my/ our death,
birth, retirement, resignation etc. during the currency of the said Bank Guarantee/SBLC Limit.
31. I/ We, hereby agree and give consent for the disclosure by the Bank of all or any such information and data
relating to me / us; data / information relating to my / our obligation in any Banking facility granted / to be granted to
me / us by the Bank as a borrower / guarantor/ Fixed Deposit Holder, and in case of default, if any committed and
necessary, to disclose and furnish to Credit Information Bureau (India) Ltd. (CIBIL) and any other agency authorized
in this behalf by RBI.
32. I / We undertake that CIBIL and any other agency so authorized may use, process the said information and data,
disclosed by the Bank, in the manner as deemed fit by them. They may also furnish for consideration the proposed
information and data or products thereof prepared by them, to banks / financial institutions and other credit grantors
or registered users, as may be specified by the RBI in this behalf.
33. The terms and conditions for the said Bank Guarantee/SBLC Limit shall also be subject to the changes based on
guidelines / directives issued by the RBI to banks from time to time.
34. I/We agree that I / we are individually, jointly and severally liable to repay the said Bank Guarantee/SBLC Limit
with interest and all other moneys payable by me/us under Bank Guarantee/SBLC Limit.
35. I / We hereby agree, unless otherwise recalled earlier, the Bank Guarantee/SBLC Limit now sanctioned, will be
valid up to due date of Fixed Deposits. I / We hereby agree to furnish request for renewal of facility at least 8 working
days prior to the date of expiry.
36. I / We declare that the information and data furnished by me / us to the Bank are true and correct
37. I/We agree that all the terms and conditions shall be binding on my/our legal heirs/administrators/ nominee/
successors/executors. I / We hereby agree, unless otherwise recalled earlier, the Bank Guarantee/SBLC Limit shall
run co-terminus with the fixed deposit and where it is not possible, automatic renewal clause should have been

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 activated for such fixed deposits and the deposit is cumulative in nature. I / We hereby agree to furnish request for
renewal of facility at least 8 working days prior to the date of expiry.
38. I/We agree that making of this application shall not be construed as giving rise to any binding obligation on the
Bank to grant me/us the Bank Guarantee/SBLC Limit, unless I/we, comply with the all the norms and other terms and
conditions prescribed by the Bank for availing such Bank Guarantee/SBLC Limit.
39. I/We agree that the Bank shall have the right to cancel the Bank Guarantee/SBLC Limit, if the Bank at any stage
finds that the same has been availed by me/us by furnishing false information or by making any misrepresentation and
in which case the same shall become immediately payable by me/us to the Bank together with interest and all other
monies payable by me/us under Bank Guarantee/SBLC Limit.
40. I/We agree that the Bank shall have the sole and absolute discretion to amend or supplement any of the Terms
and Conditions herein stated by posting the same on its website: www.idfcbank.com I/We shall be responsible for
regularly reviewing the Terms and Conditions including amendments thereto pertains to this limit as may be posted
on the website and the notice so given shall be deemed to be effective against me/us on the date of posting of the
same on the website and I/we shall be deemed to have accepted the changed Terms and Conditions. I/we hereby agree
to abide by the Terms and Conditions in force and the changes thereto in the Terms and Conditions from time to time
relating to the Bank Guarantee/SBLC Limit as communicated and made available on the website.
41. I/we further agree and undertake that until all the liabilities hereunder have been discharged in full, it shall not set
off or claim or prove in competition with the Bank in respect of any payment hereunder or have the benefit of or share
in any payment or composition in any guarantee or security now or hereinafter held by the Bank.
42. I/we agree and acknowledge that any default by me/us under any credit facility agreement or arrangement
entered into by me/us with the Bank, any bank and/or financial institution/non-banking financial company and/or
other creditors, shall constitute an event of default under this Bank Guarantee/SBLC Limit and vice-versa.
CREDIT FACILITY FROM ANY OTHER BANK
I/We declare that I/we have not availed any credit facility from any bank.
I/We enjoy credit facility from other bank(s), details as below.
Bank and Branch Facility Type Account Number Amount

Date Signature of Borrower(s)

Where the Depositor himself/ herself / themselves request for Bank Guarantee/SBLC Limit
Please grant me / us a Bank Guarantee/SBLC Limit of `10,00,000 (RupeesTen Lakhs_only) on my / our above
mentioned Fixed Deposit.

Place
Date Signature of Depositor(s)

Where a Third Party other than the Depositor, request for Bank Guarantee/SBLC Limit
Please grant me / us a Bank Guarantee/SBLC Limit of ` 10,00,000_ (RupeesTen Lakhs only) interalia on the security
of the above mentioned Fixed Deposit in the name of________________________________________________ who
have agreed to offer them as security for this Bank Guarantee/SBLC Limit requested by me/ us.

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Place
Date Signature of Borrower(s)

Consent from the Depositor, where Third Party other than the Depositor, request for Bank Guarantee/SBLC
Limit
I / We ______________________________________________________________ request you to grant the above
mentioned Bank Guarantee/SBLC Limit of `____________________ (Rupees_________________________________
__________________________________only) to Mr./ Ms / M/s___________________________________ on the
security of my / our above mentioned Fixed Deposit with your Bank.
I/We agree that Interest / Tax deducted at source on Fixed deposits offered as security will continue to be accrued /
deducted in the name of fixed deposit holder/s. I / We understand that notwithstanding the assignment / lien of said
Fixed Deposit/s for granting Bank Guarantee/SBLC Limit to borrower/s will continue to fulfill all taxation obligations
as applicable from time to time.

Place
Date Signature of Depositor(s)
BANK USE SECTION
Name of Borrower
Type of Bank Gurantee
Customer ID CA/SB Account No.
Industry Type & Code Industry Sub Type
Nature of Business Nature of Activity
Constitution Business Vintage
Name of RM/BM Emp ID of RM/BM
Branch Zone
Approver Name Designation