LETTER OF GUARANTEE

LETTER OF GUARANTEE

IF-4

		Bangshal Branch, 45, Bangshal Road, Dhaka-1100. Tel: 7317175, 7317396
SOCIAL ISLAMI BANK LTD.		STAMP

Bangshal Branch

	LETTER OF GUARANTEE

 

                                             

In consideration of your making or continuing investment or otherwise giving or continuing investment or accommodation to MD .NURUL ISLAM hereinafter called the principal, I/we, jointly severally guarantee to you due repayment within two days after demand, of all money which shall at any time to be due to you from the principal, in any shape or form, together with profit, charges, cost etc. provided that the total amount recoverable from me/us jointly and severally under this guarantee shall not at any time exceed the principal sum of Tk. 130,000,000.00 (Taka THIRTEEN CRORE ONLY ) exclusive of charges referred to above.

And I/we, jointly, severally, further agree as under:

1. My/our liability under this guarantee shall be that of a principal debtor and you may at your option hold me/us primarily responsible for the liabilities of the principal.

2. This guarantee shall be a continuing security binding on me/us and my/us and my/our personal representative until receipt by you of written notice of discontinuance thereof and notwithstanding such discontinuance or any release of guarantee of time or other indulgence by you to any one or more of us, this guarantee shall remain a continuing security as regards the other or others. In case of discontinuance by notice, this guarantee shall, nevertheless as to the parties giving notice, continue to be binding on them and their personal representatives in respect of all liabilities of the principal up to the limit above mentioned at the date of receipt of such notice, whether certain or contingent, and also for any credit established for the principal and for all instruments, drawn on you so accepted by you for the benefit of the principal and purporting to be dated on or before the date of receipt of the notice, actually paid or honoured after that date.

3. This guarantee in addition and without prejudice to any other guarantee or securities given by me/us in respect of any indebtedness covered by this guarantee.

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

5. You may, as you, think fit and without reference to me/us, grant the principal time or other indulgence or make or accept any arrangement or composition with him in respect of any indebtedness hereby guaranteed, and also vary, renew release, realise or in any way deal with any securities or rights now or hereafter held by you in respect of the indebtedness.

6. You’ may deal with any dividends, partial payments etc. received in respect of the indebtedness thereby guaranteed and also with any securities held or proceeds thereof as you may deem fit so as to confer on you maximum benefit.

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

8. Any account settled between you and the principal,    

as well as any statement of the Bank regarding the amount due to you at any time will be accepted by me/us as conclusive evidence to the extent of may/our liability under this guarantee.

9. Any change in the constitution of the principal/company/firm shall not affect the liability of the signatories.

10. Where the principal purports to act on behalf of other persons or Corporation or Company, you shall not be bound to enquire into the powers of such principal and all investment taken by him will be covered by this guarantee not withstanding any absence or insufficiency or irregularity in the exercise of power.

11. Any notice- by way of demand, request or otherwise hereunder may be given to me/us or any of us personally or may be left at the last known place of business or residence or may be sent to me/us or any of us by post addressed as aforesaid and if sent by post, it shall be deemed to have been duly given when it would reach me/us in due course of post. If for want of, address or otherwise the notice cannot be given by post, an advertisement in a newspaper shall be deemed sufficient notice given on the day the advertisement appears.

Dated this                                                  day of

				witness
Signature	:		1.	Signature :	:
Full Name	:	MD .NURUL ISLAM		Full Name	:	MONSUR BILLAH
S.O/D.O/W.O	:	LATE MD LAL MIAH		S.O/D.O/W.O	:	LATE MAZHARUL ISLAM
Address	:	FLAT:3/302, EASTERN POINT,8-9,SHANTINAGAR, DHAKA.1217		Address	:	HOUSE-12/18, TAJMAHAL ROAD, BLOCH-C, MOHAMMAD RUR, DHAKA-1207
			2.	Signature	:
				Full Name	:
				S.O/D.O/W.O	:
				Address	: