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Negotiation of Export Bills on our Account

Export Bills on our Account

The Assistant Vice President

Islami Bank Bangladesh Ltd.

Local Office, 75, Motijheel C/A,

Dhaka.

Place    :           Dhaka, Bangladesh.

Dated. :           01-01-2012.

 

Re        :           Negotiation of Export Bills on our Account.

 

Dear Sir,

We hereby request you to kindly negotiate all our export documents despite any discrepancies there in as and when presented to you by us/our offices and in consideration of your so doing, we hereby undertake and guarantee to indemnity you and to keep you safe and harmless against all losses,  cost, expenses claim and demands which you may in our or sustain by reason on account of you having negotiated discrepant documents of otherwise whatsoever in relation to or on account of it.

And on the event of non-payment/non-acceptance of the discrepant bills negotiated by you at our request and on our account we unconditionally undertake to refund to you on first demand the entire negotiation proceeds of such unpaid/unaccepted bill/bills along with your all claims.

The guarantee shall cover and extend to all our discrepant bills negotiated by you during the period from January 01 to December 31, 2012 and shall not be considered to be satisfied till as the discrepant bills are paid in full or our entire negotiated proceeds thereof are refunded to you and you may also debit our account with you the amount so demanded together with such penalty and costs as you deem fit and proper.

The guarantee shall further continue to be binding on us or our successor in interest and all partners, shareholders, not with standing on any change in our legal status or constitution.

 

Thanking you,

For M/S Auto Garments Ltd.

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