Letter of Guarantee - Wbbcdfc.org

To be executed on NJ Stamp Paper worth Rs. 10/-
Letter of Guarantee
To,
The Managing Director,
West Bengal Backward Classes Dev & Fin Corporation
Hemanta Bhavan (1 st and 5 th Floor)
12, B.B.D. Bag East
Kolkata 700001
Dear Sir,
In consideration of the WBBCDFC having sanctioned provisionally AAkhankha
Education Loan of Rs………………….. to Sri / Smt………………………………….
SO /DO /WO …………..……………………. ( hereinafter referred to as the
Borrower which expression shall include unless repugnant to the context his/ her/
their heirs/ executors / administrators/ assigns/ successors/ or arraigns) as per terms
and conditions stated in the offer letter accepted by the borrower, I Sri
…………………… S/O …………………after being fully conversant with the Terms
and Conditions mentioned in the draft of the LOAN AGREEMENT annexed
herewith DO HEREBY UNDERTAKE TO BE THE GUARANTOR FOR THIS
LOAN and agree and undertake the following:
1. That the Borrower and his Parent/Guardian, jointly and severally shall duly and
punctually observe and perform each and everyone of the obligations of
repayment towards principal, interest, penal interest or any other costs on their
part contained in the aforesaid LOAN AGREEEMNT and also in any other
instrument that may hereafter be executed by the borrower in your favour
modifying the terms and conditions of the said LOAN AGREEEMNT.
2. I DO HEREBY AGREE AND UNDERTAKE that in the event of default of
payment in discharge of the above obligations on part of the borrower, and on
receipt of such notification from your end I shall make payment of the defaulted
installments as well as any penalty imposed upon the borrower by you as per
LOAN AGREEMENT. I also undertake without prejudice to all your other rights

to indemnify you and keep you indemnified against all loss of principal, interest
and other monies due to the Corporation in respect of the above loan and all costs
whatsoever which you may incur due to the default in payment by the borrower.
3. I do hereby accord my consent to the terms and conditions of the said Loan
Agreement or any instrument or instruments that may hereafter be executed by the
borrower in your favour without requiring my consent thereto and I agree that my
liability under this guarantee shall in no manner be affected by any variations that
may be incorporated in the instruments aforesaid and I give up all my rights as
surety under the provisions of the Indian Contract Act, 1872 in that behalf
4. I agree that the Corporation represented by its officers or any other authorized
representative shall be at liberty without in any way affecting this guarantee to
extend any leniency to the borrower regarding payment of principal or interest or
any other monies due from him AND I SHALL NOT BE released by any such
extension of time or any other indulgence allowed by you to the borrower which
under the law relating to sureties would but for this provision have the effect of so
releasing me.
5. This guarantee shall be enforceable in addition to and notwithstanding any
collateral security or guarantee now or hereafter held by the Corporation.
6. In order to give effect to this guarantee the Corporation shall be entitled to act
as if I were the principal debtor for all payments guaranteed by me though as
between the Borrower and the Guarantor the Guarantor is only a surety.
7. Notwithstanding anything and without prejudice to anything stated in any other
clause herein I DO HEREBY AGREE that incase of default in payment of any
installment by the borrower I shall make such payment within seven days of the
due date without waiting for any notice intimating such default in payment from
your end

8. This guarantee is a continuing one and shall be binding on me, my heirs, my
successors, administrators, assigns for the principal, interest, additional interest if
any, penal interest and any other charges or costs which may become due to the
Corporation from the borrower and which remain unpaid by him provided that the
maximum liability enforceable against me by the Corporation will be twice of the
Loan Amount.
9. This guarantee shall not be affected by any change in the constitution of the
Corporation , its successors , or assigns or its absorption by or amalgamation to
any company, corporation or concern and the benefits of the guarantee shall lie
to the above until discharged by me of all my obligations.
10. This guarantee shall come into force and become binding on me immediately
upon the Loan Agreement being executed between the borrower and the
Corporation without requiring any further consent from me.
11. The corporation shall have full liberty without affecting this guarantee to
increases or decrease the loan amount or interest rate without my consent.
12. A certificate in writing under the hand of any authorized officer of the
WBBCDFC stating the amount at any particular time due and payable to it under
the guarantee shall be conclusive evidence against me as the guarantor, my
representatives and estate.
13. I shall be bound to intimate the WBBCDFC any change of my Official address or
Place of residence from time to time. Any notice may be served upon me either
personally or at the address given by me to the Corporation and registered with
the WBBCDFC or if that address happens to have changed , at the last known
place of address, either Official or Personal and the notice so served will be

considered to have been served upon me personally on completion of three days
of such service.
14. I further assure the Corporation that I have not applied for any loan from the
Corporation nor am I a borrower of the same and I have not given any guarantee
to the WBBCDFC in respect of any other person and I undertake not to apply for
any loan from the WBBCDFC or give guarantee in respect of any other borrower
till this guarantee is disposed by the Corporation.
Signed on this _________ day of ______________________, 20_____
Signature of Guarantor : ___________________________________
Name of the Guarantor : ___________________________________
Age of the Guarantor : ___________________________________
Office Address : ____________________________________
____________________________________
____________________________________
Telephone No.(Off) : ____________________________________
Designation : ____________________________________
Residential Address : _____________________________________
____________________________________
____________________________________
Telephone No ( Resi) : ___________________________________
Mobile No. : ____________________________________
Annual income : _____________________________________
(Last Pay Certificate/Pay slip to be attached)

Please use separate Sheet and attach with the Letter of Guarantee
Verification of Particulars of the Guarantor and attestation of
his/her specimen signature
(by the Head of the Office / Appointing Authority/ Controlling Authority )
Signature of Guarantor :
Name of the Guarantor :
___________________________________
___________________________________
Age of the Guarantor : ___________________________________
Office Address : ____________________________________
____________________________________
____________________________________
Telephone No.(Off) : ____________________________________
Designation : ____________________________________
Residential Address : _____________________________________
____________________________________
____________________________________
Telephone No ( Resi) : ___________________________________
Mobile No. : ____________________________________
Annual income : _____________________________________
Signature of the Verifier : __________________________________
Name
: __________________________________
Designation
: __________________________________
Office Address : __________________________________
__________________________________
__________________________________
Seal
: ___________________________________
Office Seal
: ___________________________________