Format for issue of fresh Bank Guarantee as per Master ... - MCX

Annexure IDate : ………………..Format of Bank Guarantee as per Master AgreementTo:Multi Commodity Exchange of India Ltd.Exchange Square,Suren Road,Chakala, Andheri (East),Mumbai-400093Dear Sirs:This guarantee bearing No. ______________is issued by___________, a bodycorporate constituted under the Companies Act 1956, having its Head Office at________________ (hereinafter referred to as the “Bank” which term shall wherever thecontext so permits includes its successors and assigns) in favor of Multi CommodityExchange of India Limited, a company incorporated under the Companies Act, 1956 andhaving its registered office at Exchange Square, Suren Road, Chakala, Andheri (East),Mumbai-400093 (hereinafter referred to as “MCX” which expression shall include itssuccessors and assigns).Whereasa. Mr./Ms.____________ s/o / d/o / w/o ____________, residing at______________________________ and having his/her office at_____________(Complete Address), (hereinafter referred to as the “Clearing Member”,which expression shall include his/her successors and assigns)/ is/ are a ClearingMember of MCXORM/s _______________, a partnership firm registered under the Indian Partnership Act,1932 and having their office at ___________________ (Complete Address), (hereinafterreferred to as the “Clearing Member”, which expression shall include their successorsand assigns )/ is/ are a Clearing Member of MCX.ORM/s____________, incorporated as a company under the Companies Act, 1956 andhaving its registered office at ______________ (Complete Address), (hereinafterreferred to as the “Clearing Member”, which expression shall include its successors andassigns ) is/ are a Clearing Member of MCXb. One of the conditions of Clearing Membership of MCX is that the Clearing Membermaintains with MCX margin deposit in the form shares and other securities after applyingsuitable margins as prescribed by MCX

BG No:Dated:c. At the request of the Clearing Member, MCX has agreed to accept a bank guaranteein lieu of such margin deposit, as the case may be in favor of MCX from an approvedcommercial bank for an equivalent amount of Rs.____________/- . (Rupees________________ Only)d. The Clearing Member has requested the Bank to furnish to MCX a guarantee for Rs._______ /- (Rupees___________ Only)Therefore these presents:1. This guarantee shall be governed by the terms and conditions of the MasterAgreement dated ___________________ executed between the Bank and MCX andthe same shall form a part and parcel of this guarantee as though the same havebeen incorporated in this guarantee.2. The liability of the Bank under this guarantee shall not exceed Rs.________ (Rupees____________ only)3. This guarantee shall be valid for a period of ________ months i.e. up to_________.However, the Bank is liable to pay the guaranteed amount if MCX serves upon Bank awritten claim or demand on or before ___________ (claim date)Executed this _________ day of ___________ at ____________FOR ………………………………………….. (BANK)………………………………………….. (BRANCH)Authorized SignatoriesSeal of the Bank

Annexure – IIFormat of Renewal of Bank Guarantee as per Master AgreementDate : ………………..To,Multi Commodity Exchange of India Ltd.Exchange Square,Suren Road,Chakala, Andheri (East),Mumbai-400093We, ………………………………………(Bank) having our registered office at………………………….and our branch office at ……………………………….refer to theBank Guarantee number: ………………executed by us on the ……………..day of………………. at ……………(hereinafter referred to as "Said Guarantee") on account ofMr. / Ms./ M/s. ……………………………..having his/her/ its/registered office at………………………………(hereinafter referred to as a 'Member') for a sum of Rs………………….. (Rupees …………………..only) in your favour.ORWe, ………………………………………(Bank) having our registered office at………………………….and our branch office at ……………………………….refer to theBank Guarantee number: ………………executed by us on the ……………..day of……………… at ……………(hereinafter referred to as "Said Guarantee") on account ofM/s ……………………………………………………..Limited, incorporated as a companyunder the Companies Act, 1956 and having its registered office at…………………………………(CompleteAddress),………………………………(hereinafter referred to as a “Member”) for a sum of Rs ………………….. (Rupees…………………..only) in your favour.ORWe, ………………………………………(Bank) having our registered office at………………………….and our branch office at ……………………………….refer to theBank Guarantee number: ………………executed by us on the ……………..day of………………. at ……………(hereinafter referred to as "Said Guarantee") on account ofM/s ______________________________________________, a partnership firmregistered under the Indian Partnership Act, 1932 and having their office at_____________________________________________ (Complete Address),………………………………(hereinafter referred to as a “Member”) for a sum of Rs………………….. (Rupees …………………..only) in your favour.

BG No:Dated:The validity of the Said Guarantee was upto ………………….We now at the request of the Clearing Member further extend the period of validity of theSaid Guarantee upto …………….and unless a demand under this guarantee is made onus in writing by you within 30 days after the date of expiry of this guarantee i.e on orbefore ………………….all your rights under this guarantee shall cease and the bankshall be relieved and discharged from all liabilities thereunder.The Said Guarantee may be invoked by MCX in part(s) without affecting its rights toinvoke the Said Guarantee for any liabilities that may devolve later. We hereby affirmand confirm that save and except to the extent as provided for herein above, the SaidGuarantee together with all other terms and conditions therein shall remain operationaland in full force and effect till ………………Signed for and on behalf of ……………………..on this ………..day of ………………..at………………FOR ………………………………………….. (BANK)………………………………………….. (BRANCH)Authorized SignatoriesSeal of the Bank