Cancellation of indelivered Call Deposit Receipts

Querist : Anonymous (Querist) 20 April 2011 This query is : Resolved
Can a call deposit receipt issued for tender and not used for tender/remain undelivered be cancelled at the request of the tenderer at the Bank without discharge of the department in whose favour it is issued? Like Govt Deptt a/c XYZ. Can XYZ get it cancelled from Bank solely?

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malipeddi jaggarao (Expert) 20 April 2011
If the deposit is taken in favour "xxxx(Govt.dept)A/c.xxxcompany" for participation in bidding and the bidder is unsuccessful, the deposit maker (i.e., bidder) is required to show the proof of the Government Department as having called for bidding and the unsuccessful bidders can get the deposit cancelled without their discharge. The tender document will contain such details - basing on which the bank will decide whether it can be cancelled by the maker or discharge of the Department is required.

Advocate. Arunagiri (Expert) 20 April 2011
If the DD is not encashed, you have every right to cancel it by producing the original DD to the banker.

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