Format of bank guarantee to be given by franchisee

This query is : Resolved 
 

(Querist)
12 April 2012

Dear Sir,

I want to know if there is a format available for a Bank Guarantee to be given by obtaining a Franchisee. The agreement to cover rights of person giving franchisee, terms of payment etc.


Nadeem Qureshi (Expert)
Click to Talk
12 April 2012

Dear Querist
you can search these type of documents through google

ajay sethi (Expert)
Click to Talk
12 April 2012

in respect of franchisee appointed take care to cover following cluases

1) exclusiveness of frnachisee
2)scope of marketing

3)specigffications of requirments operating procedure

4)period of agreement

5)obligations of franchisee

6)obligations of company

7)commercial conditions

8)tax liability

9)brand name logos and trademarks

10)termination clause /consequences of termination

11) disputes resolution

get it drafted by a lawyer

raj kumar makkad (Expert)
12 April 2012

Though sethi has given outlines but I suggest you not to take generalized performa as each and every matter is unik. You should take the personal service of a local lawyer and should go ahead as desired.

V R SHROFF (Expert)
12 April 2012

All banks have their own format, and for loan, the bank want word to word in their own format. Their Legal Dept do not accept even a similar format.

K.K.Ganguly (Expert)
Click to Talk
13 April 2012

Bank Guarantee is given by Banks and not by an individual.The format for giving Bank Guarantee of any Bank is the said Bank's concern which they already have. You do not have to submit any format before the Bank in this regard.

Shonee Kapoor (Expert)
14 April 2012

Nothing to add, except better contact a local lawyer for this purpose.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

malipeddi jaggarao (Expert)
Click to Talk
16 April 2012

Ask the company which is extending franchise to you. They require the bank guarantee in their own format. Show that format to the Bank from you are intending to get the Bank guarantee, they will modfiy if necessary according to their standards. Then you can forward this draft to the company and get their approval. This is the best way of settling your problem.

Ms.Usha Kapoor (Expert)
06 July 2018

Agree with experts and particularly Ajay Sethi.



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