What is a Bank Guarantee?
Bank Guarantee is a kind of collateral or safety that a bank can sell in case of unsuccessful repayment of the loan amount. It gives the authority to use one’s security to recoup the amount.
- Letter to Bank Requesting Cancellation Of Guarantee
To,
The Branch Manager,
____________ (Bank Name),
____________ (Branch Address)
Date: __/__/____ (Date)
Subject- Cancellation Of Bank Guarantee
Respected Sir/Madam,
We request you to cancel bank guarantee in the name of _____________ (Name) reason being, ______________ (Not Required/ Wrongly Created / Expired- Any other reason). The following are details for your reference.
| Bank Guarantee Amount | |
| Bank Guarantee Currency | |
| Tenor | |
| Expiry Date | |
| Beneficiary Name | |
| Beneficiary Address |
I authorize the bank to debit Account Number: _________________ (Account Number) for any Commission/charges and margin money if applicable.
Yours Truly,
__________ (Signature)
__________ (Name),
__________ (Address),
__________ (Contact Number)
Note: Bank may ask for additional documents __________ (FD Bonds, Cancellation Declaration, Application form, Indemnity Letter, ID, Address Proof, Any other). Request you to kindly contact your Bank for Bank Guarantee Cancellation.
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