LAWyersclubindia LCI
Login  Register
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Bank guarantee

(Querist) 06 November 2017 This query is : Resolved 
An existing borrower who avail cash credit facility . He request bank to issue bank guarantee to a tractor company. Later Bank issued bank guarantee to the tractor company. Now can Bank withdrawal Bank Gaurantee within claim period?
Report Abuse
Ms.Usha Kapoor (Expert) 06 November 2017
Bank canot withdraw bank guarantee before expiry of claim period.Click the following link for furthe information on this issue.
https://www.bankingschool.co.in/loans-and-advances/all-about-time-limit-for-enforcement-of-bank-guarantees/
Rajendra K Goyal (Expert) 06 November 2017
Bank can not withdraw issued Bank Guarantee before time till all parties to the guarantee agree to it.
Dr J C Vashista (Expert) 07 November 2017
Well advised by experts I agree.
Nasim (Querist) 07 November 2017
If borrower wants to withdraw BG, then what will be procedure to withdraw BG from tractor company.
Rajendra K Goyal (Expert) 07 November 2017
As stated above, consent of beneficiary of the BG is essential.
Nasim (Querist) 07 November 2017
Thank you Sir

Previous
Next

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


Click here to login now



Similar Resolved Queries :



Ask Query
Unanswered Queries

Laws Laws Follow us





Browse by Category

Stay updated with latest Posts!