Rtgs transaction
aananth
(Querist) 18 September 2016
This query is : Resolved
I want my seller to settle the sale consideration of Rs. 41 Lacs through "RTGS". before registration in Tamilnadu.My Bank is Canara. Apart from providing beneficiary name, account no, branch name, IFCR Code, any precaution I should take? Is there any chance of Fraud?
Thanks Expert in advance.
Raj Kumar Makkad
(Expert) 18 September 2016
Better to have writing from the seller to do so so as to make a complete record.
aananth
(Querist) 18 September 2016
Thanks Expert.
I am the seller. I can negotiate with seller to have it recorded in the document or separate deed. Regards.
Kumar Doab
(Expert) 18 September 2016
T&C can be reduced in writing in sale agreement and receipt of payment is narrated in sale deed.
Rajendra K Goyal
(Expert) 19 September 2016
Person receiving money may not face problem, purchaser need to take precautions.
Kumar Doab
(Expert) 19 September 2016
Your own counsel can help to draft the agreement/deed and on duties etc and defend your interest.
Shashikant V. Patil
(Expert) 21 September 2016
Incorporate all the details of RTGS details in the subject sale document.
Kumar Doab
(Expert) 21 September 2016
Details of the payment may be narrated in deed.
Rajendra K Goyal
(Expert) 22 September 2016
Yes in sale deed full detail of payments should be entered, with separate receipt of payment received.
aananth
(Querist) 23 September 2016
Thanks Expert.
The following is my agreement:
Seller:
Subject:
The buyer undertake/s to settle the following amount through RTGS from Bank
On registration date
to the seller’s account in “KKK” Bank (detail below), Tamilnadu and the receipt of that payment shall be narrated in sale deed.
1. Amount to be remitted:
2. Remitting customer’s account number which is to be debited:
3. Name of the beneficiary bank and branch:
4. The IFSC Number of the receiving branch:
5. Name of the beneficiary customer:
6. Account number of the beneficiary customer:
7. Seller to receiver information, if any: After receipt of message from Seller’s Bank, Registration shall be effected..
8. Zerox copy of this agreement is given to the Buyer.
Name of Buyer& ID Proof:
Signature:
Witness Name & Signature:
Date:
Place:
Kumar Doab
(Expert) 23 September 2016
Show all docs to your able counsel in person.
Guest
(Expert) 23 September 2016
Mr. Aananth,
If this much is the agreement that you have extracted, that has no relevance.
Question arises, wou have not mentioned, what is the product, registration of what, the date settled for payment (whether advance or post-delivery payment), the date of delivery, etc.
Even otherwise also, it is a commercial problem and risk of 41 Lacs is involved, better hire services of some local lawyer to discuss your real problem in detail.
Rajendra K Goyal
(Expert) 23 September 2016
Hire services of local lawyer for specific services.
Kumar Doab
(Expert) 23 September 2016
Author @ aananth,
The query posted by you has been resolved.
Now what exactly was the purpose of the query: To get draft?
Draft are not supplied.
For draft visit your own counsel and let your counsel draft everything to defend your interest.
If the money being paid is fetched by say: Fraudulent means then what good a draft does to you!
aananth
(Querist) 26 September 2016
Thanks Expert Our Advocate is drafting.
Regards. It is for registration of a vacant land in chennai. We are from interiors.
Guest
(Expert) 26 September 2016
Good! That was desirable at the very outset of your feeling for the problem.
Kumar Doab
(Expert) 26 September 2016
Buyer or seller both should prefer proper legal opinion.
Rajendra K Goyal
(Expert) 27 September 2016
Yes, repeat, get all the documents verified through your lawyer after finalization.
