LIVE Course on Transfer Property Law | Price Hike in 4 days | Grab it now!
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Clause in the sanction letter of term loan

(Querist) 21 July 2012 This query is : Resolved 
what is the interpretation of the following sentences,is it condition to be fulfilled mandatory or optional?

in the sanction letter of term loan:-
1.other condition
SUB BULLET POINT

Insurance of the security preferably under bank's corporate agency arrangement with bank's clause to be taken.
adv. rajeev ( rajoo ) (Expert) 21 July 2012
Now days banks are also involved in insurance business, which is called as corporate agency. So they will go for insurance with their agency.
pooja dedhia (Querist) 21 July 2012
i have mentioned the sentences - is it meant that it is mandatory to take insurance with bank's agency?

or it is optional?


You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :





Post a Suggestion for LCI Team
Post a Legal Query