UNLESS PREVIOUSLY CANCELLED. BY THE OWNER, this Security Deposit-cum-Performance Bank Guarantee will remain in force initially upto months from the effective date of Bank Guarantee No. dated given by the Bank to the Owner and subject to provisions of paragraph 2 above will stand automatically cancelled on the expiry of the said period. Unless demand or claim under this Bank Guarantee is made on Bank in writing within three months from the date of expiry of this Bank Guarantee, all the rights of Owner against the Bank shall be forfeited and Bank shall be relieved and discharged from all the liabilities hereunder.
Appears in 2 contracts
Samples: Contract for Chemical Handling and Sludge Removal, Nit for Contract
UNLESS PREVIOUSLY CANCELLED. BY THE OWNER, this Security Deposit-cum-Performance Bank Guarantee for Security Deposit will remain in force initially upto months from the effective date of Bank Guarantee No. dated given by the Bank to the Owner and subject to provisions of paragraph 2 above will stand automatically cancelled on the expiry of the said period. Unless demand or claim under this Bank Guarantee is made on Bank in writing within three months from the date of expiry of this Bank Guarantee, all the rights of Owner against the Bank shall be forfeited and Bank shall be relieved and discharged from all the liabilities hereunder.
Appears in 1 contract
Samples: Contract
UNLESS PREVIOUSLY CANCELLED. BY THE OWNER, this Security Deposit-cum-Deposit- cum- Performance Bank Guarantee will remain in force initially upto up to months from the effective date of Bank Guarantee No. dated given by the Bank to the Owner and subject to provisions of paragraph 2 above will stand automatically cancelled on the expiry of the said period. Unless demand or claim under this Bank Guarantee is made on Bank in writing within three months from the date of expiry of this Bank Guarantee, all the rights of Owner against the Bank shall be forfeited forfeited, and Bank shall be relieved and discharged from all the liabilities hereunder.
Appears in 1 contract