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The Borrower undertakes to repay the aforesaid FCDL of USD and the interest thereon as per Interest Clause hereunder mentioned on or before either from the export proceeds or from purchase of foreign currency from the Bank with the exchange risk being borne by the Borrower. The Borrower whenever called upon by the Bank shall obtain forward cover for purchase of the foreign currency, in case the export proceeds of the foreign currency expected to be received for payment fails to materialise.
The prepayment of the said FCDL loan amount is solely at the discretion of the Bank with the exchange risk to be borne by the Borrower. The difference in foreign exchange rate shall be on account of Borrower. The Exchange loss, if any due to non booking of forward contracts as a result of Exchange Rates fluctuation during the time of FCDL loan is to the account of the Borrower.
MoneyGram adds two more banks to Indian network
The Borrower further covenants with the Bank to pay interest in Foreign Currency at. The Bank will be at liberty to crystallise the liability of Borrower in respect of the said foreign currency loan at any time during the currency of the FCDL loan with a notice of 30 days to the Borrower.
Term Loan of Rs. The Borrower shall procure execution of such mortgage documents by all the persons having any right, title of interest in the property that may be offered in mortgage and to make out clear and marketable such property. Nothing herein contained shall prejudice any other securities present or future of any right or remedy available to the Bank against the Borrower or Guarantors or contribute towards the recovery of the monies due by the Borrower to the Bank hereunder.
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Any stamp duty, penalty, registration charges, or deficit therein if any, payable on the document shall be borne and paid by the Borrower. In witness whereof the parties have executed these presents on the day and year first herein before mentioned. Where the signatory is a Company. The Common Seal of the within named. Shri , Directors.
Foreign Exchange Rate For Forex
Of the Company and Mr. Being the person authorized for the. Signed and delivered by the withinnamed. Where the signatory is an HUF. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre. Please read our Privacy Policy.
With these additions, 18 India banks offer MoneyGram's services. Write a blog post about this story membership required. News in your inbox For Finextra's free daily newsletter, breaking news and flashes and weekly job board. Sign Up. Related Companies Moneygram International.
TJSB Sahakari Bank Limited
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