continuing guarantee

Querist : Anonymous (Querist) 13 November 2009 This query is : Resolved
well i have to know what which documents will be required to prove a continuing guarantee signed by a parties in singapore according to indian law and stamp duties applicable.

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Kiran Kumar (Expert) 14 November 2009
the conditions will be very much written in the original agreement/ contract itself....so rely on that.

Raj Kumar Makkad (Expert) 14 November 2009
Supplementary deed of guarantee can be drafted for this purpose wherein the affirmation of already executed guarantee deed may be mentioned and further continuation may be acknowledged.

Y V Vishweshwar Rao (Expert) 14 November 2009

I agree with Mr Kiran & Mr R K Makkad !

The Deed of guarantee itself may provide a clause that this guaratee is conituing guarantee till all the obligations and perfomrances are made by the principal, the Guarantor liabbility will be extending - The party who obtained guarantee can invok the guarantee when he feels that obligation is not complied and the same will be inforce till full satisfaction of the Contractual obligations - between the parties

Querist : Anonymous (Querist) 15 November 2009
thank you ...
stamp duties applicable ???

Y V Vishweshwar Rao (Expert) 15 November 2009
Stamp Duty as per your local - State Stamp Act/ articles - it is Rs;- 100/- in AP - as Agreement !

Querist : Anonymous (Querist) 15 November 2009
so it doesnt effect the bindingness of the party in any way if it signs fron abroad ......what if the court asks to prove it ....

Y V Vishweshwar Rao (Expert) 15 November 2009
If a docuement is executed out side india , it shall be properly stamped /impounded in India , immedietly after receiving in India (and beofre it is used) - The docuement shall be placed beofre District Rgistrar for assessment of Stamp Duty and Endorsment/Certificate that the Stamp Duty is properly paid !

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