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APPLICATION FOR ISSUANCE OF BANK GUARANTEE Customer Ref. No. Date: Bank use only To: Citibank, N.A., Bangkok APPLICANT (NAME & ADDRESS) BENEFICIARY (NAME & ADDRESS) Customs Department Others (please specify) VALIDITY PERIOD PURPOSE Effective Date: Expiry Date: No Expiry Date AMOUNT (IN FIGURES & WORDS) COMMISSIONS/CHARGES For commissions/charges incurred for the above issuance, please: Debit our account no. * Send your bill to our above address SPECIAL INSTRUCTION CUSTOMER AUTHORIZATION This Application and any Bank Guarantee issued pursuant to it shall be subject to the Terms and Conditions as set forth on the reverse page of this Application to which we irrevocably and unconditionally agree and undertake to abide by. …………………………………………………………………………………. SV Authorized Signature (s) & Company Seal FOR BANK USE ONLY APPROVAL / REMARKS: * Payment to reach the Bank when due; otherwise maximum default interest at the rate announced from time to time by the Bank will be charged on late payment. TERMS AND CONDITIONS In consideration of your agreeing at our request to sign and issue a bank guarantee (the “Bank Guarantee”) to a beneficiary (the “Beneficiary”) as set forth herewith, I/we, the Applicant, hereby irrevocably and unconditionally agree and confirm: 1. to indemnify you (Citibank, N.A., Bangkok Branch), your successors and assigns and at all times to keep you fully indemnified and harmless from and against any and all liabilities, claims, demands, actions, proceedings, losses, expenses including legal fees and all other liabilities of whatsoever nature which may arise as a result of the Bank Guarantee and any amendments thereto, modifications thereof and any related letters or documents made supplemental thereto and my/our liability as aforesaid shall remain in full force and effect until I/we fully rei mburse you upon demand for any and all payments as aforesaid under the Bank Guarantee and any amendment, modification including any renewals or extensions thereof and your liability thereunder is fully discharged or released or released thereby. 2. that I/we irrevocably authorize you to make prompt payment or payment within the period to be determined by you on my/our behalf and for my/our account all claims as demanded by the Beneficiary without having to raise any defense that I/we and/or you may have again st the Beneficiary at all. 3. that I/we irrevocably authorize you to make prompt payment or payment within the period to be determined by you under the Bank Guarantee of any sum(s) of money without requiring or obtaining any evidence or proof that the amount claimed or the amount paid or to be paid by you is due, genuine and payable and that I/we am/are in default of any obligation and without any prior notice, any instruction either verbal or written, reference to or further authority from me/us irrespective of whether or not I/we shall dispute and/ or object the validity of any such claim or payment and/or make any objection. I/We shall not at any time oppose or challenge the legal validity or authenticity of any such claim or raise any objection of whatsoever nature towards payment made or to be made by you or deny any liability hereunder on the ground that any such payment or claim was not due, genuine or payable or caused by my/our breach or default of any agreement with the Beneficiary under the Bank Guarantee or on whatever ground it is. My/Our objection if made before or after payment made by you shall be considered void and not enforceable against any other party. 4. that my/our liability hereunder shall not be affected or prejudiced at all if the Bank Guarantee is issued by you, your correspondent bank or any other bank as instructed by you; and your are therefore authorized to instruct your correspondent bank or any such bank as approved by you to issue its own bank guarantee in favor of the Beneficiary or add a confirmation or any amendments to the Bank Guarantee issued by you on such terms and conditions as you and/or you correspondent bank may deem appropriate. 5. that I/we undertake to fully reimburse you on demand or upon presentation of a claim where payment was made by you the total amount of payment together with an interest at the maximum rate for the time being charged by you to your customers as may be announced by you from time to time regardless of whether or not such obligation under which payment was made by you was valid or genuine in making a claim against you thereunder. 6. that I/we undertake to pay all costs, charges and expenses including legal fees which you may incur for due execution, protection and enforcement of your rights and interest under this Terms and Conditions and any amendments thereto, together with any related letters or documents. 7. that you shall have the right to take recourse against me/us for all obligations under the Bank Guarantee including interest at the maximum rate and default interest at the maximum default rate for the time being charged by you to your customers as may be announced by you from time to time and all related expenses including legal fees and disbursements and all other liabilities of whatsoever nature taken by you in relation to or as a result of the Bank Guarantee and any amendments thereto, modifications thereof and any related letters or documents. 8. that I/we undertake to provide you upon demand with any further bills or financial instruments, collateral security, cash col lateral and/or any security of any kind whatsoever, my/our acknowledgement letter of default, my/our written instruction to make payment, and/or any further documents which I/we shall immediately execute, deliver or complete as required by you, in the form and amount satisfactory t o you. I/We unconditionally and irrevocably warrant that any of the foregoing documents shall neither constitute nor be construed as novation nor settlement of any obligations or liabilities hereunder thereto. Notwithstanding the foregoing, my/our obligations and/or liabilities under this Terms and Conditions shall still remain valid in full force and effect until such obligations and/or liabilities as set forth herewith are fully performed and discharged. 9. that I/we agree to accept that any and all entries in your records in the ordinary business operation with regard to any payment made by you under the Bank Guarantee on my/our behalf regarding interest, commission, costs, charges and expenses including legal fees and disbursements shall be conclusive evidence against me/us for any transactions or matters regarding my/our liabilities to you. 10. that I/we irrevocably authorize you at your discretion and without reference to me/us to transfer and/or set off any money in my/our account(s) whether in Thailand or abroad and whether in Thai Baht or any foreign currency that I/we have with you and to treat any amount in such account(s) to be immediately due and payable to me/us at any time and/or to debit against any of such account(s) any sum of money which you may pay under the Bank Guarantee or due you for whatever cause; and I/we irrevocably authorize you to effect any exchange of currency in connection therewith and I/we agree to pay interest at the maximum rate and default interest at the maximum default rate on any amount as paid by you or due to you including any and all other charges at your maximum rate, for the time being charged by you to your customers as may be announced by you from time to time from the date of payment or due date until I/we make repayment in full to you; and I/we shall be fully liable for any interest charged at the compounding rate. 11. that notwithstanding any amendments or modifications as to the amount or duration or any provisions of this Terms and Conditi ons at the request of the Applicant, this Terms and Conditions shall still be in full force and effect inclusive of any amendments made thereto as well as any action taken by you in relation thereto. 12. that if either (i) the introduction of or any change in or in the interpretation of any law or regulation or (ii) compliance by you with any guideline or request from the Bank of Thailand or any central bank or other governmental authority in or outside Thailand (whether or not having the force of law) affects or would affect the amount of capital required or expected to be maintained by you or any corporation controlling you and you determine that the amount of such capital is increased by or based upon the existence of the Bank Guarantee (or similar contingent obligations) then, upon demand by you, I/we shall immediately pay to you, from time to time as specified by you, additional amounts sufficient to compensate you in light of such circumstances, to the extent that you reasonably determine such increase in capital to be allocable to the issuance or maintenance of the Bank Guarantee. A certificate as to such amounts submitted to me/us by you, shall, in the absence of manifest error, be conclusive and binding of all purposes.
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