Bank Guarantee
Pachranga International (P) Ltd. 45, Huda, Sector- 25, Industrial Area, Phase II, Panipat- 133103, Haryana
Bank Guarantee Ref, No. : Party Account No. Bank Guarantee Amount Date : : :
We ………………..(Bank Name, address)(hereinafter referred to as Bank) at the request of ……………………….(S.S. name, address)(hereinafter referred to as distributor), do hereby undertake to pay to Panchranga International (P ) Ltd. (hereinafter referred to as Company) an amount not exceeding Rs.
15,00,000/- (Rs. Fifteen Lacs only) due and payable under this guarantee without delay and within 05 working days, on a demand from the company, stating that the amount claimed is due to company, in case of non- payment by the ………….within 15 days of the company invoice, for the goods supplied by the company to the ……………………….(S.S. name, address). Any such demand made on the bank shall be conclusive as regard to the amount due and payable by the bank under the guarantee.
Bank undertakes to pay the Company any money so demanded not-withstanding any dispute or disputes raised by the ……………………….distributor, in any or proceeding pending before any court or tribunal relating thereto, our liabilities under this guarantee being absolute and unequivocal.
Bank further agrees that the guarantee therein contained shall remain in full force and that it shall continue to be enforceable till all dues of Pachranga International (P) Ltd., as clained by the company, have been full filled to the satisfaction of Pachranga International (P) Ltd. We ………………..(Bank Name, address), further agree that this guarantee will not be discharged due to change in the constitution of the bank or the ………………………… We ………………..(Bank Name, address), lastly undertake not to revoke this guarantee during its currency, accept with the previous consent of the Managing Director of Pachranga International (P) Ltd. in writing.
We agree that all suits, Lagal Proceedings or Arbitration award under this agreement will be filed, entertained and decided only in the court of Panipa, only the court of panipat will have the Jurisdiction over all such disputes and claims.