Bank gurantee Format Required for VAT/CST Regi

This query is : Resolved 

27 July 2010

Dear Experts,
Our company is going to set up a new unit at alwar, Rajasthan. I have to make a requset for VAT/cst Registration in Rajasthan.
We have to submit bank gurantees as surety.
If any body have bank gurantee format , please send mail id.

srinath (Expert)
27 July 2010

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27 July 2010

Format of Bank Guarantee
(To be stamped as an agreement in accordance with the Stamp Act in force)
Federation of Indian Chambers of
Commerce and Industry
Tansen Marg
New Delhi – 110 001
THIS DEED OF GUARANTEE made this ______________day
Of ____________ between the Bank of __________(hereinafter called “the Bank”) of the one part, and Federation of Indian Chambers of Commerce and Industry, Federation House, Tansen Marg, New Delhi – 110 001 (hereinafter called “the Federation”) of the other part;
FICCI/BISNET/ATA Carnet Secretariat 1
WHEREAS _____________(hereinafter referred to as “the Carnet Holder”) has approached the Federation for issuance of an ATA Carnet in accordance with the arrangement made under the Customs Convention regarding ATA Carnets for temporary admission of goods done at Brussels on the 6th December, 1961 and/or any subsequent amendments or alteration thereto.
WHEREAS the Federation has issued the ATA Carnet No. _____ to the Carnet Holder.
WHEREAS the Federation is the National Guaranteeing Association in International Guaranteeing Chain of ATA Carnet administered under World ATA CARNET COUNCIL (ICC) Paris, France.
WHEREAS to safeguard the interest of the Federation against any claim that may arise against the above ATA Carnet No. _______ dated _______ issued by the Federation to the Carnet Holder, the Bank at the request of the Carnet Holder has agreed to issue this Bank Guarantee on behalf of the Carnet Holder.
FICCI/BISNET/ATA Carnet Secretariat 2
1. In consideration of having issued the above ATA Carnet No. ________ dated ______by the Federation to the Carnet Holder, the Bank as also its successors and assigns, do hereby bind itself unconditionally and irrevocably that in the event of any default or failure on the part of the Carnet Holder to observe all or any of the conditions of the ATA Carnet terms the Bank shall on first demand by the Federation without protest, demur, or proof and without reference to the Carnet Holder and irrespective of and notwithstanding any contestation by the Carnet Holder or the existence of any dispute, whatsoever between the Federation and the Carnet Holder pay forthwith to the federation or its successors and assigns any sum upto Rs. _________ (in words) that the Federation demands.
2. The Bank further agrees that this guarantee shall constitute an independent and autonomous contract between the Bank and the federation and shall not in any way be affected by any dispute or difference between you and the Company under/and in connection with the aforesaid ATA Carnet No. __________ dated ____________.
3. Finally, the Bank confirms that a mere letter from the Federation under the signature of its Authorized Signatory that there has been a default/failure on the part of the Carnet Holder as above, shall without any other or further proof be final, conclusive and binding on the Bank.
FICCI/BISNET/ATA Carnet Secretariat 3
4. Notwithstanding anything contained herein above the Bank’s liability under the bank guarantee shall not exceed Rs. ________. (in words).
This Bank Guarantee shall remain in force upto ____________ and all claims hereunder should be received by the Bank within 90 (Ninety) days after said date i.e. on or before _________ and unless such claim is received in writing on or before the said day i.e. _______, all the rights of the Federation under this guarantee shall be forfeited.
Yours faithfully,
For _______________(Name of the Bank)
( )
FICCI/BISNET/ATA Carnet Secretariat 4

27 July 2010

thanks for feedback.
Bank gurantee format is different as per requriement . ie. if sales tax it is differenct .

Now I have recd it from our sales tax consultant.

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