Bank guarantee format for security deposit with PDF

This Bank guarantee format for security deposit is available in PDF and Docs format for free download. Bank Guarantee Format or Security Deposit Format is an instrument issued by a Bank in which the Bank agrees to stand guarantee against the non-performance of some action/performance of a party.

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Suggested Bank guarantee format for security deposit

Guarantee No……………………………………………………………..
Amount of Guarantee Rs………………………………………………..
Guarantee cover from Dated : ………………………………………….
To Dated: ………………………………………………………………….
Last Date for Lodgment of claim: ……………………………………..

To:
………………………………………………
………………………………………………
………………………………………………
………………………………………………  

In consideration of ………………………………………  (hereinafter called “Beneficiary”) having agreed to exempt …………………………… …….. Ltd.,   having its Registered Office situated at ……………………………….  (hereinafter called the “the obligator(s)”) from the demand of security deposit of Rs…………………… (Rupees ………………………………………only)  under the terms and conditions of an agreement dated …………………. (hereinafter called the “said Agreement”) for the due fulfillment by the said obligator of  the terms and conditions contained in the said agreement, on production of the Bank Guarantee for Rs…………………. (Rupees ………………………………… only), at the request of the obligator ______ Bank, a body corporate constituted under the Banking Companies (Acquisition & Transfer of undertakings) Act, 1970 having its Head Office at _____________ amongst others a branch at ……………………… (hereinafter referred to as “the Bank”) has agreed to give following guarantee in favour of the beneficiary for an amount not exceeding Rs……………….. (Rupees ………………………… only) against any loss or damage caused to or suffered or would be caused to or suffered by reason of any breach by the said Obligator(s) of any of the terms and conditions contained in the said agreement.

  1. We, the Bank to hereby undertake to pay the amount payable under this guarantee without any demur merely on a demand from the beneficiary stating that the amount claimed is due by way of loss or damage caused to or would be caused to or suffered by reason or any breach of the terms and conditions contained in the said agreement or by reason of the obligator’s failure to perform the said agreement.  Any such demand in writing made on the Bank shall be conclusive as regards the amount due and payable by the Bank under the guarantee.  However, our liability under this guarantee shall be restricted to an amount not exceeding Rs……………………………….
  2. We, the Bank further agree that the guarantee herein contained shall remain in full force and effect during the period that would be taken for the performance of the said agreement and that it shall continue to be enforceable till all the dues of the beneficiary under or by virtue of the said agreement have been fully paid and its claims satisfied or till the beneficiary certifies that the terms and conditions of the said agreement have been fully discharged this guarantee.  Unless a demand for claim under this guarantee is made on us in writing on or before ………………………… we shall be discharged from all liabilities under this guarantee thereafter.
  3. We, the Bank further agree that the beneficiary shall have the fullest liberty, without consent and without effecting in any manner or obligations hereunder, to extend time of performance the said obligator(s) from time to time or to postpone for any time any of the powers exercisable by the beneficiary against the said obligator(s) and to forbear or enforce any of the terms and conditions relating to the said agreement and we shall not be relieved of our liability by reason of any extension being granted to the said obligator(s) for any forbearance, act or omission on the part of the beneficiary or any indulgence by the beneficiary to the said obligator(s) or by any such matter or thing whatsoever which under the law relating to sureties would not for this provision have effect of so relieving us.
  4. We, the Bank lastly undertake not to revoke this guarantee during its currency except with the previous consent of the beneficiary in writing.    
  5. Not withstanding anything contained herein:
  • Our liability under this Bank Guarantee shall not exceed Rs. ……………(Rupees ………………………………………only)
  • This Bank Guarantee is valid upto ……………………….. and
  • We are liable to pay the guaranteed amount or any part thereof under this Bank Guarantee only and only if you serve upon us a written claim or demand on or before ………………. (mention period of the guarantee as found under clause (ii) above plus claim period)

PLACE:

DATE  :                                                                                   SIGNATURE  

Bank guarantee format for security deposit PDF and Docs Download

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