FROM:
EAST WEST BANK OF INDIA
(Full address of the
branch)
To,
PDP INDIA PRIVATE LIMITED
(Full address)
(i)
Guarantee No.:—
(ii)
Amount of Guarantee:— Rs.___________/- (Rupees
_________________ only).
(iii)
Guarantee covered
from ______
day of
________
200 to day of 200 . .
(iv)
Last date of lodgment of claim _______________.
THIS BANK GUARANTEE is executed by
the East West Bank of India, having its central office at
___________________________ ____________ and amongst other places a branch at
___________________ (hereinafter referred to as “the Bank”) in favour of PDP INDIA PRIVATE LIMITED (hereinafter
referred to as the “the Beneficiary”)
for an amount not exceeding Rs.____________/- Rupees _______________ _________
only) at the request of M/s. XYZ INDIA PRIVATE LTD. (hereinafter referred to as
“the principal”)
WHEREAS:—
(a)
M/s. XYZ INDIA PRIVATE LTD., the principal, have agreed with
M/S. PDP INDIA
PRIVATE LIMITED, the Beneficiary, to transfer its property
situate at _____________________________ _________ to them (hereinafter
referred to as “the said property”).
(b)
It is also agreed between the principal and the Beneficiary
that if any transfer charges on account of the transfer of the said property
are required to be paid to __________________________, the same shall be paid
by the Principal alone.
(c)
It is further agreed between the Principal and the
Beneficiary that to safeguard the interest of the Beneficiary against the
demand of such transfer charges, the Principal shall obtain a Bank Guarantee of
an amount of Rs._____________/- (Rupees _________________________________
only), being the expected transfer charges, in favour of the Beneficiary.
(d)
Pursuant to the request of the Principal, the Bank has agreed
to issue the present
Bank Guarantee in favour
of
the Beneficiary.
NOW THIS GUARANTEE WITHNESSETH AS FOLLOWS:-
1.
In consideration of the aforesaid, we irrevocably and
unconditionally guarantee and undertake to pay as primary obliger and not
merely as surety a sum not exceeding Rs.____________/- (Rupees
__________________________________ only) to _______________________ immediately
on demand by the Beneficiary without demur PROVIDED
the Beneficiary stating to the Bank in writing within the prescribed period
that the said amount is due by way of transfer charges on account of transfer
of the said property by the Principal to the Beneficiary and the Principal
has failed to pay the same.
2.
The decision of the Beneficiary as to whether the Principal
has failed to pay the said transfer charges to _______________________________
shall be final and binding on the Bank.
3.
NOTWITHSTANDING anything contained herein, it is recorded and
confirmed that:—
(i)
Our liability in any case and in no circumstances shall
exceed Rs.____________/- (Rupees __________________only).
(ii)
We shall be liable to pay provided if a written claim or
demand is lodged with the Bank on or before ______________ and not otherwise.
(iii)
This Bank Guarantee shall be valid only upto __________. No
claim and/or demand shall be entertained thereafter.
(iv)
This Bank Guarantee is not negotiable.
(v)
This Bank Guarantee shall stand cancelled/discharged with
effect from _______________________, whether or not the original bank guarantee
is returned to us.
4.
We shall not revoke this guarantee during its validity period
except with the previous consent of the Beneficiary.
5.
All the disputes related to the present bank guarantee shall
be subject to jurisdiction of court of ____________________ only.
Dated this ____________ day of
_________________ 200__.
FOR EAST WEST
BANK OF INDIA
Witness:
DEPUTY
MANAGER/
ASSISTANT
GENERAL MANAGER Seal
[CD1]Bank
Guarantee
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