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      • Pakistan
      • Current Location:
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    #1

    letter Over draft terms and condition

    We are applying for the overdraft from bank and bank send us terms and condition so we want to highlight some point to bank that we are not applying. Please view the following some terms and condition from bank.

    “5. Appraisal Fee:
    A non-refunddable appraisal fee of USD ****/- and USD 9,750/- is payable upfront.

    11. Other condition:

    • iv) It is a condition to this offer that the majority turnover will be routed through your account with the bank. In addition, all other accounts maintained shall be closed within thirty (30) days from this letter and proof of account closure to be provided to the bank.


    • vii) The bank reserves the right of appointing a collateral manager at any time should, in the opinion of the bank, circumstances so demand. Should a collateral manager be appointed, the costs associated with his engagement will be borne by the customer.


    • viii) Stock / Property inspection will be carried out at quarterly / semi-annual intervals or as dictated by the bank at mutually convenient times, all costs including travel, accommodation incurred in this exercise will be for the account of the borrower.”



    MY reply is . . . . . . . . . . . . . .
    “Manager
    ***** Bank
    City.

    Dear Madam,

    We have noted some point for your attention.
    Page S.No. Remarks
    3 5 Error in figure USD 9,750/ instead of USD 2,250/-
    7 11. (iv) We have another bank accounts which are used as collection account so we can’t close them.
    7 11. (vii),(viii) We are based in ABC City and your branch is here. Therefore we are not applying for that mentioned condition.


    Your corporation in this matter will be highly appreciated.

    Sincerely,
    XYZ
    Director”

  1. MikeNewYork's Avatar
    • Member Info
      • Native Language:
      • American English
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      • United States
      • Current Location:
      • United States

    • Join Date: Nov 2002
    • Posts: 24,983
    #2

    Re: letter Over draft terms and condition

    Quote Originally Posted by helpmesir View Post
    We are applying for the overdraft from bank and bank send us terms and condition so we want to highlight some point to bank that we are not applying. Please view the following some terms and condition from bank.

    “5. Appraisal Fee:
    A non-refunddable appraisal fee of USD ****/- and USD 9,750/- is payable upfront.

    11. Other condition:

    • iv) It is a condition to this offer that the majority turnover will be routed through your account with the bank. In addition, all other accounts maintained shall be closed within thirty (30) days from this letter and proof of account closure to be provided to the bank.


    • vii) The bank reserves the right of appointing a collateral manager at any time should, in the opinion of the bank, circumstances so demand. Should a collateral manager be appointed, the costs associated with his engagement will be borne by the customer.


    • viii) Stock / Property inspection will be carried out at quarterly / semi-annual intervals or as dictated by the bank at mutually convenient times, all costs including travel, accommodation incurred in this exercise will be for the account of the borrower.”



    MY reply is . . . . . . . . . . . . . .
    “Manager
    ***** Bank
    City.

    Dear Madam,

    We have noted some point for your attention.
    Page S.No. Remarks
    3 5 Error in figure USD 9,750/ instead of USD 2,250/-
    7 11. (iv) We have another bank accounts which are used as collection account so we can’t close them.
    7 11. (vii),(viii) We are based in ABC City and your branch is here. Therefore we are not applying for that mentioned condition.


    Your corporation in this matter will be highly appreciated.

    Sincerely,
    XYZ
    Director”
    This way beyond the scope of this forum. You need to contact an accountant or an attorney, not an English teacher.

    • Member Info
      • Native Language:
      • Urdu
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      • Pakistan
      • Current Location:
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    • Posts: 100
    #3

    Re: letter Over draft terms and condition

    Quote Originally Posted by MikeNewYork View Post
    This way beyond the scope of this forum. You need to contact an accountant or an attorney, not an English teacher.


    I do not want to any legal advice. Just check grammatical mistake in my letter.

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