Bank guarantee renewal

This query is : Resolved

Suprovo (Querist)
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27 September 2013 Kindly provide me the board resolution format for bank guarantee renewal.And let me know whether stamp paper is bought in the name of the bank or company's name.

Ajay Mishra

Ajay Mishra (Expert)
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27 September 2013 Hi

RENEWAL OF BANK GUARANTEE/CREDIT FACILITY

“RESOLVED THAT the Company shall avail the following credit facilities sanctioned by .......BANK Ltd vide their letter No ...../DEL/FL/204/2012-13 dated October 22, 2010 and on such further terms and conditions as may be mutually agreed upon:

S. No. Nature of Facility Amount
1. Bank Guarantee (Performance / Bid Bond) Rs. 10,000,000

RESOLVED FURTHER THAT the following be and is hereby authorized to accept the sanction terms and conditions and such other changes and modifications as the bank may require from time to time and to sign and execute all deeds, documents and other writings and to do such other things as may be necessary to avail of the above credit facilities and to give securities as stated above.

S. No. Name Designation Signature
1. Mr. ....... VP-Finance

RESOLVED FURTHER THAT the common seal of the Company be affixed in presence of Mr. ........, Company Secretary of the Company on aforesaid documents and papers.

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