1 QUICK GUARANTEE APPLICATION ( APPLICATION ) To CIMB Bank Berhad ( the Bank ) I/We the undersigned hereby request the Bank to issue a Bank Guarantee with the following particulars. I/We agree to be bound by the Terms & Conditions appearing on this application form, which I/We have read and understood. New issuance Renewal for BG Number : Amendment for BG Number : APPLICATION DETAILS PARTICULARS OF APPLICANT * Indicates mandatory fields 1. Date of Application (dd/mm/yy) * : / / 2. Name of Applicant (in full) * QG Address of Applicant * 6. Account Number ( Bank Account ) * 7. Contact Person * 4. NRIC number / Business registration number * 8. address * 5. Occupation / Nature of business * 9. Contact number * 10. Fax number * PARTICULARS OF BANK GUARANTEE 11. Name of Beneficiary (in full) * 12. Address of Beneficiary * 15. Bank Guarantee period & claim period (dd/mm/yyyy) * 13. Purpose of Bank Guarantee * Effective date: / / Expiry date: / / Claim period: days / weeks / 16. Contract details (dd/mm/yyyy) (if applicable) months Contract Date: / / Contract Ref. No. : Contract Amount : 14. BG amount (figures) * 17. Other Remarks (if applicable) RM,. STAMPING OF BANK GUARANTEE * I/We request the following stamping option on the Bank Guarantee: Stamping by own arrangement Bank to perform stamping MODE OF DELIVERY OF BANK GUARANTEE * I/We request the Bank to release the Bank Guarantee as indicated: Hand collection at originating branch by, (name) (NRIC number) Courier to Applicant s / Beneficiary s above address, attention to:, (name) (NRIC number) The Bank is not liable for any loss or delay by stamping office and / or courier company or the release of the Bank Guarantee to any person that the Bank in good faith believes to be authorized to receive the same. I/WE DECLARE THAT THE ABOVE INFORMATION IS TRUE, CORRECT AND NOT MISLEADING. Authorised signatories (Individual, Sole Proprietor, Company, Partnership) Authorised signature/(s) Authorised signature/(s) Authorised signature/(s) Company chop Full name/(s) Date (dd/mm/yyyy) / / Branch use only Signature Verified
2 APPLICANT S DECLARATION The Applicant represents and declares that: (a) he is not connected with the Bank or, where the Applicant is other than an individual, none of its directors, managers, guarantors, agents, shareholders, partners or employees of the Applicant or the spouses, dependents of the spouses, brothers, sisters, parents, children (including step and adopted children) or the spouses of the children of such directors, guarantors, managers, agents, shareholders, partners or employees, are directors, officers or in any way otherwise connected with the Bank in accordance with the regulatory guidelines or requirements issued by Bank Negara Malaysia. (b) he is not a bankrupt or, where the Applicant is other than an individual, it is not wound up and no legal proceedings which are pending against the Applicant. TERMS & CONDITIONS ( Terms ) 1. Right to Debit The Applicant hereby irrevocably and unconditionally authorizes the Bank to debit the Applicant s Bank Account referred to in the Application for the maximum contingent amount for which the Bank is liable for under the Bank Guarantee (the Guarantee Amount ) to be placed with the Bank, as well as commission, stamp duty, charges and other fees and expenses incurred for this Bank Guarantee application determined in accordance with the Terms and Conditions herein which shall form an integral part of this Application and my/our agreement with the Bank. 2. General The Application (this Application ) for issuance of this Bank Guarantee is subject to the Bank's approval and subject to the Terms of issuance of Bank Guarantee. The Applicant is responsible to determine the suitability of the form and content of the Bank Guarantee to be issued. The issuance of the Bank Guarantee is subject to : (i) (ii) (iii) (iv) The form, contents and Beneficiary are acceptable to the Bank and are in compliance with all applicable laws and regulations binding on or affecting the Applicant and/or the Bank; the Applicant shall have, in the case of a non-individual Applicant, provided to the Bank its corporate documents, authorisations, and such other conditions (including the execution of such other agreements or documents) as may be imposed by the Bank have been fulfilled to the satisfaction of the Bank. at the time of issuance of the Bank Guarantee, the available credit balance in the Bank Account shall be at least sufficient for the Bank to debit to cover the Guarantee Amount, together with the commission, stamp duty, charges and other fees and expenses payable by the Applicant hereunder and; such other conditions as may be imposed by the Bank have been fulfilled to the satisfaction of the Bank. Notwithstanding the above, the Bank reserves the right to approve or reject the Bank Guarantee application without having to disclose any reason whatsoever to the Applicant. 3. Security (in the case where the Applicant is a non-company) In consideration of the Bank having, at the Applicant s request, issued, agreeing to issue or continuing to issue the Bank Guarantee, the Applicant, by way of continuing security, hereby charges to the Bank all monies standing to the credit of the Guarantee Amount as a continuing security for payment to the Bank, on demand, of all and/or any of the Applicant s liabilities under the Bank Guarantee and/or any moneys now or hereafter owing by the Applicant to the Bank, together with interest and all other charges thereon up to date of payment. 4. Indemnity The Applicant hereby irrevocably and unconditionally agrees and undertakes that it shall at all times fully indemnify and save harmless the Bank, its directors, officers, representatives, successors in title and assigns, (collectively, Indemnified Persons ) from and against any loss, costs, expenses, damages, claims, liabilities, actions and/or proceedings of any kind whatsoever which each of them may at any time and from time to time directly or indirectly sustain, incur or suffer, including but not limited to any costs (including legal cost on a solicitor client basis) expenses and/or payments and/or liabilities of whatsoever nature or description which may be taken, suffered or incurred by any of the Indemnified Persons for whatsoever reason, in consequence of and/or arising from the issuance of the Bank Guarantee by the Bank, and/or from any payments made by the Bank or any claim or liability under the Bank Guarantee, or by reason of this application or the Applicant s default to the Beneficiary. The Applicant shall pay on demand all amounts that the Bank shall certify to be payable by the Applicant under this indemnity, which certificate shall be final and conclusive and binding on the Applicant in the absence of manifest error. 5. Liability The Applicant hereby agrees that its liability aforesaid shall be a continuing liability and shall remain in full force and effect until all its obligations and/or liabilities for the payment or repayment of money, whether present or future, actual or contingent, including but not limited to the obligation to provide the Guarantee Amount (including all rights of the Bank to the same), commission and other charges outstanding in respect of the Bank Guarantee have been fully discharged to the satisfaction of the Bank and the Bank Guarantee issued by the Bank is discharged or released by the Beneficiary and/or returned to the Bank. However, such discharge shall be deemed to be made subject to the condition that it will be void if any security, disposition or payment to the Bank (including the amount transferred by the Applicant as Guarantee Amount under paragraph 9 below) or any other person is set aside, avoided or reduced pursuant to any provision or enactment relating to the bankruptcy, liquidation, reorganization or otherwise of the Applicant or such other person (whether as a fraudulent preference or otherwise) or proves otherwise to have been invalid, in which event the Applicant shall make good to the Bank upon demand the whole of the amount thereof and the Bank shall be entitled to enforce this indemnity against the Applicant subsequently as if such discharge had not occurred. Page 2 of 5 Applicant s Initial
3 6. Indemnity and Liability not Diminished or Extinguished The Applicant s liabilities and obligations to indemnify the Bank hereunder shall not be diminished or extinguished by any act, omission, default, matter or thing (including without limitation anything which would but for this paragraph have discharged the Applicant (wholly or in part) or would have afforded the Applicant any legal or equitable defense) except by the full, prompt and complete performance of all the terms of this Application including the due and punctual payment of all amounts that may become due to the Bank hereunder or the final discharge of the indemnity under paragraph 4 and 5 including without limitation: (i) if the Beneficiary grants any indulgence, forbearance or extension of time to the Applicant or releases or discharges (wholly or in part) the Applicant or makes any settlement, composition or arrangement with the Applicant; (ii) if the Bank grants any indulgence, forbearance or extension of time, release or discharge to the Applicant (wholly or in part) or makes any settlement, composition or arrangement with the Applicant or any creditor; (iii) if the Bank or the Beneficiary asserts or pursues, or fails or neglects to assert or pursue, or delays in asserting or pursuing, or waives, any of its rights or remedies in relation to the Bank Guarantee (arising under or by virtue of this Application, the general law or otherwise) against the Applicant; (iv) if the Bank accepts, varies, deals with, exchanges, surrenders or abstains from perfecting or enforcing, any collateral or other security in relation to the transactions contemplated hereby; or (v) if the Bank or the Beneficiary with or without the Applicant s consent, makes any variation to the Bank Guarantee. 7. Call on the Bank Guarantee (a) If, at any time, the Beneficiary makes a demand on the Bank Guarantee: (i) (ii) the Applicant irrevocably consents to and the Bank shall be entitled to make payment of the amount demanded under the Bank Guarantee at the Bank s sole judgement in determining liability to pay without reference or notice to the Applicant and without further investigation or enquiry, and the Bank need not concern itself with the propriety of any claim made or purported to be made under or in the manner required by the terms of the Bank Guarantee notwithstanding that the Bank was or might have been justified in refusing payment of any amount claimed or demanded under the Bank Guarantee; and without prejudice to the right of the Bank to retain the Guarantee Amount, the Bank shall be entitled to utilise the Guarantee Amount below to meet the demand, and the Guarantee Amount shall be reduced by the amount demanded and all amounts for which the Applicant is liable to indemnify the Bank hereunder, notwithstanding that: (iii) (iv) the sum claimed by the Beneficiary may not have been properly due under the Bank Guarantee whether because the corresponding sum was not properly due to the Beneficiary from the Applicant or for any other reason; or the Bank Guarantee or any provision in it or any other document is void, voidable or invalid or is not binding on or enforceable against the Bank for any reason whatsoever, whether known to the Bank or not, including, without limitation, illegality, disability, lack of corporate capacity, or lack of powers on the part of the directors of the Bank. (b) It shall not be a defence to any demand made of the Applicant under this Application, nor shall any of the Applicant s obligations hereunder be affected or impaired by the fact that the Bank was or might have been justified in refusing payment, in whole or in part, of the amounts claimed by the Beneficiary. (c) All steps taken by the Bank in good faith under or in connection with the Bank Guarantee shall be binding on the Applicant and shall not place the Bank under any liability to Applicant in any manner whatsoever, including for:- (i) the falsification or the legal effect of any document; (ii) the form, sufficiency, correctness or genuineness of any document or the lack of authority of the person signing any document; (iii) the performance of the agreement between the Beneficiary and the Applicant that underlies the Bank Guarantee; (iv) the loss or destruction of any document in transit or in the possession of others, or the delivery of the Bank Guarantee to a person purporting to be the authorized representative of the Applicant or the Beneficiary; and (v) acts or omissions of any person. 8. Commission Commission is chargeable on the amount stipulated in the Bank Guarantee for the full liability period inclusive of the claims period (if any) at the rate as may be prescribed by the Bank from time to time. Any early termination or cancellation of this Bank Guarantee for any reason, shall not entitle the Applicant to any refund of commission. 9. Guarantee Amount The Applicant agrees that no interest or other amounts shall be payable to the Applicant on the Guarantee Amount under any circumstances. The Bank shall refund the Guarantee Amount or any part thereof not applied pursuant to these Terms by crediting such amount into the Bank Account, free of interest, once the period of liability for the Bank under the Bank Guarantee has lapsed, provided that the Bank is satisfied that there is no liability remaining or being threatened against the Bank in spite of the lapsing of such period, as determined by the Bank at its discretion in good faith. The Applicant shall not demand early repayment/refund of the Guarantee Amount and the Bank has no obligation to make early repayment/refund of the same. The Applicant shall not act or omit to act in anyway which may delay or prejudice the Bank's rights to retain or apply the Guarantee Amount. The Applicant has no rights to the whole or any part of the Guarantee Amount, other than to receive the refund/repayment in accordance with these Terms. The Bank is authorized to notify Applicant's creditors of these Terms and Applicant's agreement herein at any time. Page 3 of 5 Applicant s Initial
4 10. Set-Off The Applicant agrees that the Bank shall have the absolute right and authority in its sole discretion to combine, consolidate or merge all or any of the Applicant s accounts with the Bank and debit and/or set-off from any of Applicant s accounts with the Bank and/or set-off any monies belonging to the Applicant in the Bank s custody or possession to effect payment and repayment of any of its liabilities and obligations under these Terms, and/or to recover any or all of the amounts owed by the Applicant to the Bank under these Terms. 11. Certificate of Bank conclusive A certificate from the Bank as to the amount for which the Applicant is liable for or which is due to the Bank under these Terms, shall, in the absence of manifest error, be conclusive and binding on the Applicant for all purposes including for legal proceedings. 12. Power to Make Verifications The Applicant authorizes the Bank to verify, check and/or obtain any of the information with or from Bank Negara Malaysia Central Credit Bureau and/or any credit reference agencies, and/or from any financial institution, on itself and/or any person, individual and/or entity as the Bank may deem fit, for any purposes which the Bank deems fit. 13. Costs and expenses The Applicant shall pay all stamp duty, documentary and other similar duties and taxes, and other fees and expenses (including legal fees and out of pocket expenses) in connection with this Application (including these Terms) and the Bank Guarantee, or incurred in connection with any variation, consent or approval relating to this Application, these Terms or any related documents, or in connection with the preservation or enforcement or attempted preservation or enforcement of any of the Bank s rights under this Application (including these Terms), the Bank Guarantee and any other related document. The Applicant shall fully indemnify the Bank from and against any expense, damage, loss or liability which it may incur as a result of any delay or omission by the Applicant to pay stamp duty and other such duties in full. 14. Reconstruction of Applicant or Bank The rights, liabilities and obligations under this Application (including these Terms) shall continue to be valid and binding for all purposes notwithstanding any change by amalgamation reconstruction or otherwise which may be made in the constitution of the Bank and similarly the rights, liabilities and obligations under this Application (including these Terms) continue to be valid and binding for all purposes notwithstanding any change by amalgamation reconstruction or otherwise howsoever in the constitution of the Applicant and it is expressly declared that no change of any sort in relation to or affecting the Applicant or the Bank shall in any way affect the liabilities and or obligations of the Applicant. 15. Severance Any term, condition, stipulation, provision, covenant or undertaking contained herein which is illegal prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such illegality, prohibition or unenforceability without invalidating the remaining provisions hereof and any such illegality, prohibition or unenforceability in any jurisdiction shall not invalidate or render illegal, void or unenforceable any such term, condition, stipulation or undertaking in any other jurisdiction. 16. Notices Any notice, communication or legal process under or in connection with this Application shall be in writing and shall be delivered personally, or by post, or facsimile to the addresses and facsimile numbers given in this Application or at such other address or facsimile number as the recipient may have notified to the other parties hereto in writing. Any notice or communication given as provided in this paragraph shall be deemed received by the person to whom it is addressed: (i) if delivered by hand, when so delivered; (ii) if sent by pre-paid post, on the second (2nd) business day after posting; (iii) if sent by facsimile, upon the issue to the sender of a transmission control or other like report from the despatching facsimile machine which shows the relevant number of pages comprised in the notice to have been sent and the result of the transmission is successful. No change in the address or fax number of the Applicant howsoever brought about shall be effective or binding on the Bank unless actual notice of the change of address or fax number has been given to the Bank. 17. Governing Law and Jurisdiction The Bank Guarantee and these Terms are subject to the laws of Malaysia, the Foreign Exchange Administration Rules, the rules of the Association of Banks in Malaysia, directives from Bank Negara Malaysia or any other regulatory bodies and these Terms shall be subject to such variations as the Bank shall specify to be necessary to comply with such laws and regulations. The Applicant hereby agrees to abide and be bound by the terms and declaration in the Application Form and these Terms. The Applicant submits to the exclusive jurisdiction of the courts of Malaysia. 18. Early Effective Date of Bank Guarantee In the event that the effective date of the Bank Guarantee is required or requested by the Applicant, the Applicant hereby confirms that the Applicant is not in default of any of the Applicant s obligations that will give rise to any claims or demands capable of being made by the Beneficiary under the Bank Guarantee. Further, the Applicant hereby irrevocably agrees and undertakes to repay the Bank, notwithstanding any contestation by the Beneficiary or any third party, in the event of receipt by the Bank of a valid claim under the Bank Guarantee in respect of a default during the period between the effective date and the date of issuance of the Bank Guarantee. Page 4 of 5 Applicant s Initial
5 19. Disclosure The Applicant hereby agrees and authorizes the Bank to disclose any information relating to this Bank Guarantee, the Security, and/or the Applicant s affairs or accounts: (i) to the Bank's agents, service providers, auditors, legal counsel, other professional advisors and to any person in or outside Malaysia where such disclosure is in connection therewith; (ii) to the Central Credit Bureau, Biro Maklumat Cek or other relevant authorities to whom such Bureau or authorities the Bank is required to make such disclosure and/or to any authorities having jurisdiction over the Bank; (iii) to any financial institutions with which the Applicant has or propose to have dealings; (iv) to any insurance company which the Bank may deem fit in connection with any insurance policy which the Bank may wish to take pursuant to the Terms; (v) to its related corporations; (vi) where required by law; or (vii) pursuant to any subpoena or order of the court. for such purposes as the Bank deems fit including facilitating the business, operations, facilities and services of or granted or provided by the Bank. The Applicant hereby expressly confirms that the Bank, its officers and agents shall be under no liability under any circumstances whatsoever for furnishing such information whether by reason of any misstatement, error, negligence, omission, delay or any matter in connection thereto whatsoever and whether before on or after this Application. Further, where the Applicant is a natural person, in the event of my/our death, the Bank is hereby authorized to disclose my/our account information to Amanah Raya Berhad or any other body appointed by the authorities to discharge the functions of a public trustee and/or to any solicitor appointed by my/our next of kin in relation to any applications for grant of probate or letters of administration. 20. Personal Data Protection Act ( PDPA ) Please note that the Privacy Clause contained in the Terms and Conditions for Account Opening in respect of the Bank Account shall be read as and forms an integral part of this Application. Page 5 of 5 Applicant s Initial
6 Conventional Product Quick Guarantee PRODUCT DISCLOSURE SHEET (Please read this Product Disclosure Sheet before you decide to apply for this product. Be sure to also read the general terms and conditions.) CIMB Bank Berhad (13491-P) : 1. What is this product about? A simple and easier method to apply for a Bank Guarantee. A Bank Guarantee is a written undertaking issued by CIMB Bank Berhad ( CIMB Bank ) at the request and for the account of the Applicant whereby CIMB Bank acts as a Guarantor to guarantee the payment to the Beneficiary up to the guaranteed sum stated in the Bank Guarantee in the event a valid claim is received by CIMB Bank under the Bank Guarantee. The Bank Guarantee issued by the Bank is unconditional and payable on demand. The Bank Guarantee text contains the name and address of parties involved in the Bank Guarantee, amount, purpose, duration for which the guarantee is issued, specific expiry date and a specific claim clause. 2. How and for whom is this product available? Quick Guarantee is available for business and personal needs where the CIMB Bank s account holders and companies, must be registered in Malaysia. 3. What are the main features of this product? Quick Guarantee is issued against 100% cash (no interest bearing) direct debited from Applicant s account. Quick Guarantee is subject to CIMB Bank s approved beneficiary formats. Applicant is required to open/maintain a Current/Savings Account with CIMB Bank. Applicant only needs to complete and sign a single Quick Guarantee Application Form. Applicant is able to collect the Bank Guarantee within 1 working day* from CIMB Bank branches. Applicant may request the Bank to stamp the Bank Guarantee and courier directly to the Applicant. First party application only. Note : *1 working day turnaround time is subject to Applicant submitting complete documentation and information to branch by 12 noon same day and excludes stamping and courier services. 4. What is the maximum amount allowed under the Quick Guarantee? The maximum amount is RM250, per transaction and RM500, per Applicant. Applicant may apply more than one (1) Quick Guarantee as long as it does not exceed a total of RM500, What is the maximum tenor of the Quick Guarantee? The maximum tenor is eighteen (18) months excluding claim period. The maximum claim period is (6) months. Note : Backdating up to 90 days from issuance date is allowed. 6. What are the benefits of this product? Simplified application process with minimal documentation. Fast turnaround time between one (1) to three (3) working days. Same day issuance is subject to complete application form and stamping is done by Applicant. Available at all CIMB Bank branches nationwide. 7. What are the costs of utilizing this product? Quantum of Deposit (No interest bearing) = 100% transaction amount. In addition, you will be charged the following: Items Commission* Charges (to be borne by Applicant) 0.15% per month (including claims period) or minimum RM Stamp Duty Quick Guarantee Application Form = RM10.00 Charges Stamp Duty Bank Guarantee text = RM10.00 (if applicable) Postage = RM5.00 Courier = RM20.00 (if applicable) Note : Commission is charged from the effective date or issuance date of the Bank Guarantee, whichever is earlier.
7 8. What are the required documents to apply for this product? 1. Quick Guarantee Application Form (CIMB standard form). 2. Bank Guarantee text from Beneficiary (if applicable). 3. Copy of Identification Card (IC) Individual own Company all owners / directors. 4. Form 24 (List of Shareholders) and Form 49 (List of Directors) for companies. 9. What are the Applicant s main obligations under this product? The Applicant is to: Ensure fulfillment of their contractual obligations under the underlying contract. 10. What if the Applicant fails to fulfill the contractual obligations under the underlying contract? Default under the underlying contract will normally result in a claim by the Beneficiary under the Quick Guarantee. If the claim is in order, CIMB Bank is obligated to honour the claim by utilizing the quantum of deposit. 11. Can the bank affix revenue stamp and stamps the Quick Guarantee instrument at the stamping office for the Applicant? Yes. In the event where Applicant requests CIMB Bank to stamp the Bank Guarantee, it may take up to 3 working days for Applicant to receive the stamped Bank Guarantee. 12. How does the Applicant collect the Quick Guarantee text? The Quick Guarantee text can be collected at the CIMB Branch which processed the Applicant s Quick Guarantee application. Alternatively, Applicant can request the bank to courier the Quick Guarantee at a named address for Applicant s attention. The courier charges will be charged to the Applicant s account. 13. What does the Applicant need to do if there are changes to their contact details? The Applicant needs to immediately inform CIMB Bank branch that services their account so that CIMB Bank s internal systems can be updated accordingly without delay. 14. How does the Applicant cancel the Quick Guarantee? The cancellation of Quick Guarantee is subject to CIMB Bank s satisfaction that no further claim or action can be made by the beneficiary on CIMB Bank. The Quick Guarantee may only be cancelled when CIMB Bank receives the following: Letter of discharge from the beneficiary; AND Original Quick Guarantee including amendments (if any) 15. Upon cancellation, how would the Quick Guarantee amount be refunded? Upon cancellation of the Quick Guarantee, 100% of the deposit quantum will be refunded and credited to the Applicant s account. The refund will be credited into the same operating account debited upon creation of the Bank Guarantee. Transfer to any other account within or outside CIMB Bank or by other method is not allowed. 16. Where can the Applicant obtain additional information related to this product? Should the Applicant require additional information about this product, please refer to our website at call or visit any of our CIMB Bank branches nationwide. This information provided in this disclosure sheet is valid as at 12 th February 2014.