Loan Stamp /PERSONAL GUARANTEE stamp / any purpose loan stamp

PERSONAL GUARANTEE

The Manager

.................... BANK LIMITED

........................... Branch

Dear Sir,

In consideration of your making or continuing advances or otherwise giving or continuing Credit or accommodation to ……………………………………………….hereinafter called the Principal. I/We jointly and severally guarantee to you due repayment within two days after demand of all moneys which shall at any time be due to you from the principal in any shape of from (………….. …………… …………….) exclusive of interest and charges.

And I/We further agree as under:-

(1)                        My/Our liability under this guarantee shall be as that of principal debtor and you may at your option hold me/us primarily responsible for the principal.

(2)                        That guarantee shall be a continuing security binding on me/us and my /our personal representation until receipt from you by me/us any written notice of discontinuance thereof and notwithstanding such discontinuance or any release or granting of time or other indulgence by you to any one or more of us, this guarantee shall remain a continuing security as regard the other or others. In case of discontinuance by notice, this guarantee shall, nevertheless as to the parries to it, continue to the limit above mentioned at the date of receipt of such notice, whether certain or contingent and also for any credits established for the principal and for all instruments, drown on you or accepted by you, for the benefit of the principal and purporting to be dated on or before the date of receipt of the notice, though actually paid or honored offer date.

(3)            This guarantee is additional and without prejudice to another guarantee or securities given by me/us in respect of any indebtedness covered by this guarantee. You shall not be obliged to make any claim or demand on the principal or to resort to any other collateral security or other means of payment now or hereafter held by or available to it before enforcing this guarantee and no action taken or omitted by you in connection with any such collateral security or other means of payment shall discharge, reduce, prejudice or affect my/our liability guarantor’s under this guarantee.

(4)                        This guarantee shall not be discharged or prejudiced by any partial payment or by settlement of accounts or the existence of a credit balance or the principal at any time or by discharge of the principal by operation of law or for any other reason.

(5)                        In respect of any security held by you against the indebtedness hereby guaranteed. I/We shall not do, or cause to be done, anything that will impair there. Value or in case of any insolvency of principal or of a co-surety shall not prove in competition until all the money due to you are repaid.

(6)                        You may deal with any dividend, partial payment etc. received in respect of the indebtedness hereby guaranteed and also with and security held or proceeds there of as many due to you are repaid.

(7)                        In case of principal or ourselves being a firm, any change in the constitution shall not affect our liability.

Dated this ……………. Day………………..20……

 

 

 

Signature of the Guarantor                         Signature of the Applicant

 

Name:

Father’s/Husband’s name:

Mother’s name:

Full address

Present:

Permanent:

Phone:

Witness:-1                                                Witness:-2

Name:                                                         Name:

Signature:                                                    Signature:

Address:                                                       Address: