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COUNTER GUARANTEE

To
The Branch Manager

Place: Mydukur

STATE BANK OF INDIA

Date: 03-12-15

MYDUKUR

Sir,
In consideration of your having at my/our request agreed to execute
a letter of guarantee(As per copy annexed hereto) for Rs.1,50,000 (one
lakh
fifty
thousand
rupees)
in
favour
of
the
________________________________________________________________
______________,we hereby agree and declare that:a) I/we will hold harmless and indemnify that the bank against and will
pay to the bank on demand at State Bank of India, Mydukur Branch
the amount of costs,claims, demands damages, losses and
expenses which may be made against or sustained by the Bank of
for which the Bank may liable by reasons of the bank having given
and signed the said Guarantee or otherwise in connection there with

b)

c)

d)

e)

f)

and we also agree to pay to the Bank at its Mydukur Branch


forthwith on demand any amount which the bank may be called
upon to pay under the said Guarantee and any payment made by
the Bank or demand from the beneficiary shall be deemed to be an
amount which the bank has been called upon to pay under the said
Guarantee,
The Bank shall be at liberty to debit the Current Account maintained
by me at the Banks Mydukur Branch with any amount paid or
payable by the Bank pursuant to clause (a) of this counter
guarantee.
The Bank shall be at liberty to appropriate the proceeds of the
T.D.R./No. __________________
Dated 03-12-15 for Rs.1,50,000.
Deposited with you (after duly discharging the same) by first/second
among us as Security for due fulfilment of the obligations
undertaken under this counter guarantee.
I/we agree that if for any reason the bank is prevented by any action
initiation by the Customer from making payment to the beneficiary
of the Guarantee commission for the period for which the delays by
such action, the payment or discharge of the guarantee apart from
other amounts payable to the Bank.
I/we further agree that this counter guarantee will remain in force
until the Bank is finally discharged of the liablility under the said
guarantee and has obtained confirmation in writing thereof from the
beneficiary and received there from the said Guarantee duly
redeemed.
Any notice by way of Demand or otherwise hereunder may be given
by the Bank to us by sending the same by post addressed to us at
our Registration Office and the notice shall be deemed to have been
given at the time when it would be delivered in the ordinary course
of post and it will be sufficient in order to prove service of any such
notice to prove that the envelop containing the same was posted
and a certificate signed by the Manager of the Banks Mydukur
Branch that the envelop was posted shall constitute such proof.

PLACE : Mydukur
DATE
(Signature)

03-12-15

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