PROCEDURE FOR SUBMISSION OF BANK GUARANTEE Sample Clauses

PROCEDURE FOR SUBMISSION OF BANK GUARANTEE. Bank Guarantee should be executed on the non-judicial stamp paper of Rs.50/- which should be obtained in the name of the executing Banker. In case a single stamp paper of Rs.50/- is not available, stamp paper of multiple denomination is acceptable provided serial no. of such stamp paper are consecutive and are purchased on the same date. Bank Guarantee should be executed strictly as per GRSE's Format. Any alteration in the writing is required to be authenticated by the signatory executing the Bank Guarantee under official seal. BG must be submitted in banker's sealed envelope directly to our Corporate Finance Dept.
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PROCEDURE FOR SUBMISSION OF BANK GUARANTEE. Bank Guarantee must be furnished in GRSE format from a nationalized/schedule Bank (except Co-operative Bank). Bank Guarantee should be executed on the non-judicial stamp paper of Rs.50.00 which should be obtained in the name of the executing Banker. In case a single stamp paper of Rs.50.00 is not available, stamp paper of multiple denominations is acceptable provided serial no. of such stamp paper are consecutive and are purchased on the same date. Bank Guarantee should be executed strictly as per GRSE‟s format. Any alteration in the writing is required to be authenticated by the signatory executing the Bank Guarantee under official seal. B.G. must be submitted in Bankers sealed envelope directly to our Finance Department.
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