Refusal of bg encashment by bank

Rajiv Sharma (Querist) 14 September 2015 This query is : Resolved
We are the beneficiary of bank Guarantee issued by bank, However on submission of encashment letter to HO of bank with in claim period, bank has refused to encash the BG on the ground that encashment letter sent to thier HO instead of issuing branch. However on Covering letter of PBG there are two address one is of issuing branch and the another one of HO.
May please advice, how to proceed my case. I have already written to higher authorities of bank, but they have not responded instead all the time replied has been given by issuing branch. We have already written them that our intimation to the HO as good as intimation to branch.

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Guest (Expert) 14 September 2015
Rightly refused.

Why do you feel any other authority should encash the bg other than the guarantor bank?

Rajendra K Goyal (Expert) 15 September 2015
Whether the language of the BG specifically allows to serve revocation letter to Head office / any other office of the Bank.

T. Kalaiselvan, Advocate (Expert) 21 September 2015
Well advised by experts, you may follow the advise rendered.

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