Mode of Disbursement. The Bank may disburse the Loan either in lump sum or in suitable installments to be decided by the Bank. The disbursement shall be made by the Bank through a credit to a designated bank account or by issuing a banker's pay order or a demand draft crossed as "A/c payee only" at the discretion of the Bank considering the request of the Borrower, details whereof are specified in the Schedule hereto. The charges in relation to the disbursement (including charges of issuance or collection of proceeds by the beneficiary of such pay order or demand draft) shall be borne by the Borrower.
Appears in 4 contracts
Samples: Personal Loan Agreement, Personal Loan Agreement, Personal Loan Agreement
