Letter Of Guarantee By Directors Negotiable Instruments Act 1340 Legal Draft Template
| Category | Negotiable Instruments Act |
| Format | Rich Text |
| File name | Letter of Guarantee by Directors-Negotiable Instruments Act-1340.rtf |
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Letter of Guarantee by Directors
To,
The Manager,
B ank of ...
Branch office
Sir.
Your bank has advanced the loan of Rs to M/s. ADC Co. Pvt. Ltd.
(or has granted cash credit facility] to the extent to Rs and of which
company we the undersigned persons are Directors.
Dated this .... day of
Sd/
Sd/
Sd /
To,
The Manager,
B ank of ...
Branch office
Sir.
Your bank has advanced the loan of Rs to M/s. ADC Co. Pvt. Ltd.
(or has granted cash credit facility] to the extent to Rs and of which
company we the undersigned persons are Directors.
In consideration of your granting the said loan/cash credit facility, to
the said company we the undersigned in our personal capacity, jointly and
severally
guarantee
the repayment of the said loan amount (or
amount
due and payable at the foot of cash credit account at the date of demand by you]
with interest thereon as agreed by said company and agree to pay the same
on demand, in the event of the company making default in payment thereof
as and when demanded by you.
■Dated this .... day of
Sd/
Sd/
Sd /