Others
 

D.    GUARANTEES:

Details

Slab

Charges

Performance Guarantees

 

2 % per annum with a minimum of Rs. 500/-. Charges payable upfront

Other than Performance Guarantees

 

3 % per annum with a minimum of Rs. 500/-. Charges payable upfront.

Deferred Payment Guarantees

 

As per terms of sanction

Guarantees issued against 100 % cash margin including our term deposits

  • Performance Guarantee

  •  

     

     

  • Other than Performance Guarantee

  • 0.50 % per annum with a minimum of Rs. 500/-. Charges payable upfront

  •  

  • 0.75 % per annum with a minimum of Rs. 500/-. Charges payable upfront.

Renewal of Guarantees

 

  • Same as for issue of Guarantees

Extension of Guarantees

 

  • Same as for issue of Guarantees

Refund of commission on unexpired portion of guarantees cancelled

 

Commission will be refunded for unexpired complete months only.

It is hereby clarified that the commission has to be collected for the actual number of months for which the guarantee will be in force (part of the month to be considered as full month) at the rate and minimum charges specified above.
 
ING Limited
- Last updated 13/06/08
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