When writing a letter to request the renewal of a bank guarantee, it's essential to maintain clarity and politeness. Be sure to include all necessary details, such as existing and new guarantee amounts, tenor, expiry date, and beneficiary information. Avoid common pitfalls like unclear language and ensure authorization for charges is provided.
Sample Letter for Renewal Of Bank Guarantee
To,
The Branch Manager,
____________ (Bank Name),
____________ (Branch Address)
Date: __/__/____ (Date)
Subject- Renewal Of Bank Guarantee
Respected Sir/Madam,
We request you to extend/ amend our bank guarantee in the name of _____________ (Name). The following are details for your reference.
Existing Bank Guarantee Amount and Currency: _________________ (Existing Bank Guarantee Amount and Currency)
New Bank Guarantee Amount and Currency: _________________ (New Bank Guarantee Amount and Currency)
Tenor: _________________ (Tenor)
New Expiry Date: _________________ (Expiry)
New Claim Date/Period: _________________ (Period of claim)
Beneficiary Name: _________________ (Beneficiary Name)
Beneficiary Address: _________________ (Beneficiary Address)
We authorize you to debit Account Number: _________________ (Account Number) in case of Commission/charges and margin money if applicable.
Instructions: ___________ (Mention if any)
Regards,
_______________ (Signature With Stamp),
_______________ (Name)
NOTE: Bank may ask for additional documents apart from BG form, Application, Bg Docuemtgs, request you to kindly contact your Bank for renewal of Bank Guarantee. Make sure there is enough money in your account / FD for marginal charges.
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Sandeep Bhandari