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Return Of Original Bank Guarantee for India

Return Of Original Bank Guarantee Template for India

A formal document used in the Indian jurisdiction to request the return of an original bank guarantee from its beneficiary after the completion or fulfillment of underlying contractual obligations. This document serves as an official communication between the parties involved and includes specific details of the bank guarantee, confirmation of obligation fulfillment, and formal request for return. It complies with Indian banking regulations and the Reserve Bank of India guidelines regarding bank guarantee management. The document creates a clear audit trail and helps in proper closure of banking security arrangements.

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Return Of Original Bank Guarantee

Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.

What is a Return Of Original Bank Guarantee?

The Return of Original Bank Guarantee document is a crucial instrument in Indian banking and commercial transactions, used when contractual obligations secured by a bank guarantee have been satisfactorily fulfilled. This document is typically initiated when projects are completed, contracts are terminated, or when the purpose for which the bank guarantee was issued has been achieved. It must comply with Reserve Bank of India guidelines and Indian banking regulations, requiring specific details such as the bank guarantee number, original amount, issuing bank details, and confirmation of obligation fulfillment. The document serves as formal evidence of the request for return and helps maintain proper documentation for banking and audit purposes. It's particularly important in sectors where bank guarantees are commonly used as security instruments, such as construction, procurement, and government contracts.

What sections should be included in a Return Of Original Bank Guarantee?

1. Letter Header: Official letterhead, date, reference number, and addressee details

2. Subject Line: Clear reference to 'Return of Original Bank Guarantee' with BG number

3. Bank Guarantee Details: Specific details of the bank guarantee including number, amount, issue date, and purpose

4. Completion Statement: Confirmation that the underlying obligations have been fulfilled

5. Return Request: Formal request for the return of the original bank guarantee

6. Authorization: Statement of authority to request the return

7. Contact Information: Details of the person to be contacted for the return process

8. Signature Block: Authorized signatory details and signature

What sections are optional to include in a Return Of Original Bank Guarantee?

1. Multiple Guarantee Reference: Section listing multiple bank guarantees if more than one is being requested for return

2. Partial Return Details: Required when requesting partial return of bank guarantee amount

3. Discharge Certificate: Additional section confirming no claims or demands against the guarantee

4. Indemnity Statement: Optional protection against future claims, used in complex cases

5. Acknowledgment Request: Request for written confirmation of return, used in formal scenarios

What schedules should be included in a Return Of Original Bank Guarantee?

1. Schedule A - Bank Guarantee Details: Detailed list of bank guarantee(s) being requested for return, including all relevant numbers, dates, and amounts

2. Appendix 1 - Supporting Documents: Copies of completion certificates or other evidence of obligation fulfillment

3. Appendix 2 - Authorization Documents: Copies of authority documents proving the signatory's right to request return

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

India

Document Type

Bank Guarantee

Sector

Banking

Cost

Free to use
Relevant legal definitions




















Clauses













Relevant Industries

Banking and Financial Services

Construction and Infrastructure

Manufacturing

Real Estate

Government and Public Sector

Energy and Utilities

Telecommunications

Mining and Resources

International Trade

Defense Contracting

Relevant Teams

Legal

Finance

Treasury

Procurement

Contract Administration

Project Management

Risk Management

Compliance

Banking Operations

Corporate Secretarial

Relevant Roles

Finance Manager

Treasury Manager

Contract Manager

Project Manager

Company Secretary

Legal Counsel

Procurement Manager

Banking Relations Manager

Chief Financial Officer

Compliance Officer

Risk Manager

Account Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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