The Bank provides it's customers the facility of Bank guarantee against their deposits. Any customer of the bank can avail this facility.
a)Any customer who wants to avail the facility of Bank guarantee, must give a requisition in writing.
b)He must provide his name and address in detail.
c)He must produce the deposit receipt duly discharged by him along with the application.
d)The guarantee amount shall not exceed 100% of the principal amount of deposit.
e)The applicant should pay the requisite Bank guarantee commission prescribed by the Bank from time to time.
f)The Bank guarantee period is linked to the period of the deposit.
g)The Liability of the Bank shall cease on the date of expiry of the guarantee period.