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www.ndtv.com/business/what-is-an-lou-letter-of-undertaking...

Letter of undertaking (LOU) is a form of bank guarantee under which a bank can allow its customer to raise money from another Indian bank's foreign branch in the form of a short term credit

www.reference.com/education/letter-undertaking-423748eacd9...

A letter of undertaking is a written promise of intention that outlines the terms and conditions between two parties who are usually entering into a work-related agreement. The letter is written by...

www.wkh-law.com/post/bank-guarantee-or-letter-of-undertaking-49-56

BANK GUARANTEE OR LETTER OF UNDERTAKING? The facts in Koumantarakis Group CC v Mystic River Investment 45 (Pty) Ltd and Another (2008) 3 All SA 384 (Supreme Court of Appeal); 2008 5 SA 159 (Supreme Court of Appeal) were as follows: The purchaser concluded an agreement with the seller to purchase an immovable property for R12 million.The agreement was not conditional on the purchaser obtaining ...

sbi.co.in/portal/documents/41076/60023/LETTER_OF...

In consideration of State Bank of India issuing to me the duplicate dividend warrant/interest warrant/refund order in lieu of the original dividend warrant/interest warrant/refund order and making the payment of the same, I hereby agree and undertake to repay State Bank of India Rs._____ which may be incurred by State Bank of

howtowritealetter.net/Letter-of-Undertaking.html

A letter of undertaking is also common in real estate and other transactions where one party wishes to reduce potential losses. For example a property buyer’s bank may request a LOU from the seller assuring them that if the legal transfers don’t go through, any money released to the seller will be returned to the bank.

economictimes.indiatimes.com/news/economy/policy/rbi...

The Reserve Bank of India has scrapped quasi bank guarantee instruments such as the Letter of Undertaking and Letter of Comfort that blew a Rs. 14,000 crore hole in the books of Punjab National Bank as the regulator attempts to plug a loophole and improve banks’ due diligence in trade credit.

www.quora.com/What-is-the-explanation-about-the-letter-of...

Letter of Undertaking (LOU): There is a widely accepted provision of bank guarantees known as a letter of undertaking (LOU) under which a bank can allow its customer to raise money from another Indian bank's foreign branch in the form of a short term credit. The LOU serves the purpose of a bank guarantee for a bank's customer for making payment to its offshore suppliers in the foreign curr...

www1.uob.com.my/securitydoc/pdf/LEG-067.pdf

LETTER OF UNDERTAKING Date : To : UNITED OVERSEAS BANK (MALAYSIA) BHD (Company No. 271809 K) Dear Sirs, LETTER OF UNDERTAKING BORROWER: In consideration of you having granted and/or agreed to grant and/or continuing to and/or made available the banking facilities of RM and such other facilities as you may at any time and from time to time grant ...

definitions.uslegal.com/l/letter-of-undertaking

Letters of undertaking may secure a claim even without the formal arrest of a vessel. The term letter of undertaking is also commonly used in Central Excise when goods are permitted for export without payment of duty. A manufacturer instead of giving the bond can give only letter of undertaking to pay duty in cases where the goods are not exported.

www.investopedia.com/ask/answers/difference-between-bank...

A bank guarantee and a letter of credit are both promises from a financial institution that a borrower will be able to repay a debt to another party, no matter what the debtor's financial ...