Bank guarantee
sanjay nath singh
(Querist) 15 July 2015
This query is : Resolved
We make one bank guarantee for one year, after one year we ask to bank , how to relise my cash margin of bank guarantee, bank says to us, benifisiary clame invoked of bank guarantee in time, but we not relies amount of bank guarantee, due to he not present original bank guarantee, bank told to benifisiary, please provide original bank guarantee or fir copy from police station, benifisiary fail to provide of any one , from since 5 year , then we clame to bank , please relise our margin fund , due to expiry date gone of bank guarantee, but ban not relise of our fund , bank says to us 1. Present original bank guarantee 2. No objection from benifisiary 3. Orde by Competent court relise of margin fund , please do something in this matter
sanjay nath singh
(Querist) 15 July 2015
We make one bank guarantee for one year, after one year we ask to bank , how to relise my cash margin of bank guarantee, bank says to us, benifisiary clame invoked of bank guarantee in time, but we not relies amount of bank guarantee, due to he not present original bank guarantee, bank told to benifisiary, please provide original bank guarantee or fir copy from police station, benifisiary fail to provide of any one , from since 5 year , then we clame to bank , please relise our margin fund , due to expiry date gone of bank guarantee, but ban not relise of our fund , bank says to us 1. Present original bank guarantee 2. No objection from benifisiary 3. Orde by Competent court relise of margin fund , please do something in this matter
seshadri dubey
(Expert) 16 July 2015
Dear Sir can you be a bit more clear in your query? as I am not getting it properly, as I am not getting the term
"benifisiary clame"? what actually does it mean?
let it long but ask in a proper manner you will get better replies.
Hope for the best.
Rajendra K Goyal
(Expert) 16 July 2015
If the claim of beneficiary was not realized / paid after such a long time the claim period is now over and Bank is of no liability. If Bank entertain claim at this stage after last date of claim, the counter guarantee can not be evoked / is not liable for this illegal payment.
You should write to Head office of the Bank, Regional office and RBI for the same. Send legal notice for release of margin money with overdue interest. If no result file consumer complaint.
