Sample Letter to the Bank Manager Requesting to Issue a Guarantee
July 13, 2019
The Manager
Bank Name
Branch Name
Address
Sub: Issuance of a Bank Guarantee.
Dear Sir,
We have been maintaining the above account with your branch since long. Recently we have received a Work Order, from [insert client’s company, e.g. ABC Ltd.] vide its Ref. No: [insert reference number], dated [insert date] of amounting [insert total value, e.g. USD 50,000.00] against [insert work name, “Supply & Installation of 500 Units of Phone Sets”].
In the aforesaid connection, we will receive [insert amount, e.g. USD 25,000.00] as advance against the Work Order in question. However, the clause no: [insert number, e.g. 1 (iv)] of the aforesaid Work Order conditions that the provision of a Bank Guaranty of [insert amount] from any reputed scheduled bank is necessary in order to receive [insert percentage, e.g. 50%] advance payment against the total Work Order amount. The same clause also mentions that the Bank Guaranty will be released upon completion of the work, i.e. after [insert days, e.g. 90 days].
Consequently, we are approaching you with a request to issue us a Bank Guaranty of [insert amount, e.g. USD 25,000.00] so that we may receive the required advance from [insert client’s company, e.g. ABC Ltd.]. We would like to offer you one of our FDRs (which is of similar amount and is maintained with your branch) as security/mortgage against the Bank Guaranty. We would also like to assure you that we shall release your guarantee from our customer as soon as we complete our work within the stipulated time.
During our long relationship with your bank we had never been blacklisted as defaulter or whatsoever. Therefore, we would expect you to issue us the required Bank Guarantee in recognition of our longstanding loyalty to your reputed bank.
Thanking you in advance for your kind consideration. Best regards,
Handwritten Signature
(Name of Client)
Designation
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