Number of Bank Type Of Bank Value of BG Amount
Guarantee and the Guarantee Encashed
Name of the Bank
1. 0910310BG0000163 BG Form ... beneficiary of the bank guarantee to state the pre-
conditions of the bank guarantee in the invocation letter was
against the terms of the bank
already invoked the bank guarantee, the defendant No.2 bank was
restrained from remitting the proceeds of the bank guarantee to the
defendant ... money bank guarantee of Rs 50 crores.
It is the case of the plaintiff that earnest money bank
guarantee is conditional bank guarantee which
Bank Guarantee dated 06.06.2005
Ex. D2 is a conditional Bank Guarantee and not an unconditional
Bank Guarantee. Merely because in the Bank Guarantee ... construed that Bank Guarantee is unconditional. The
terms of Bank Guarantee have to be seen to conclude whether the
Bank Guarantee is conditional and unconditional
case the bank guarantee is not invoked in terms
thereof, the bank can refused to honour the bank
guarantee as in that case it would ... bank guarantee are unconditional and absolute, the bank has to
pay the amount of bank guarantee without demur. The payment of
bank guarantee cannot
Bank Guarantee letter dated 06.07.2020 reads as
follows :-
As per the terms of the Bank Guarantee, CMRL
requests you to encash the aforementioned Bank Guarantee ... conditional bank
guarantee and an unconditional bank guarantee. For invoking a
conditional bank guarantee, it is mandatory that the conditions specified
for invocation of such
Bank
Guarantee. Further, as per the conditions stipulated in the Bank Guarantee,
the Banks are bound to pay the amount covered under the Bank Guarantees ... terms of the bank guarantee are,
therefore, extremely material. Since the bank guarantee
represents an independent contract between the bank and the
beneficiary, both
Bank
Guarantee. Further, as per the conditions stipulated in the Bank Guarantee,
the Banks are bound to pay the amount covered under the Bank Guarantees ... terms of the bank guarantee are,
therefore, extremely material. Since the bank guarantee
represents an independent contract between the bank and the
beneficiary, both
Bank Guarantee letter dated 06.07.2020 reads as
follows :-
As per the terms of the Bank Guarantee, CMRL
requests you to encash the aforementioned Bank Guarantee ... conditional bank
guarantee and an unconditional bank guarantee. For invoking a
conditional bank guarantee, it is mandatory that the conditions specified
for invocation of such
parties to bank guarantee and the proposed
respondent is no way concerned with the said bank guarantee.
9. The bank guarantee executed ... unconditional bank guarantee. The respondent bank refused to
pay the amount of the bank guarantee on the ground that the
bank guarantee dated 21.03.2012 stood
Irrevocable bank
guarantee."
On one hand, the term used is Performance Bank
Guarantee and the object behind giving this
performance bank guarantee ... Bank Guarantee
and it concluded that the Bank Guarantees is an independent Contract
between Bank and the Bank beneficiary and the Bank is always obliged
