TO: [Insert Party B]
We, [Insert Party A] (Company No: ….. ) hereby acknowledge and confirm that upon our request :-
i) [Insert Party B ] (Company No:…….. ) has via a letter dated (hereinafter referred to as “the Letter of Offer”) made firm proposals/an offer to [Insert Party C] (Company No: ……..) for the construction of [Insert number] units of condominiums on the land held under [Insert Party A] (a copy of the Letter of Offer is annexed herewith);
ii) pursuant to the Letter of Offer, [Insert Party C] has paid to [Insert Party A] an earnest deposit amounting to Ringgit Malaysia [Insert Money] (RM …. only (hereinafter referred to as “the Earnest Deposit”) as refundable earnest deposit in accordance with the terms and conditions therein stated.
In consideration of you entering into the Letter of Offer and paying the Earnest Deposit to [Insert Party C] upon our request and in further consideration of Ringgit Malaysia One (RM 1.00) only now paid by you to us (the receipt of which sum is hereby acknowledged), we hereby irrevocably and unconditionally guarantee as a continuing obligation to you and undertake to pay the Earnest Deposit amounting to Ringgit Malaysia [Insert Amount] (RM …….) only within 7 days of a demand being made by [Insert Party A] in the event that [Insert Party C] fails neglects refuses to pay the same within the time period specified in the Letter of Offer.
We confirm that the giving of this undertaking & indemnity has been duly authorised by a resolution of the directors in accordance with our Memorandum and Articles of Association.
Dated the day of January, 20….
The Common Seal of )
)
(Company No: )
was duly affixed in the )
presence of :- )
……………………………………… ………………………………………..
DIRECTOR DIRECTOR / SECRETARY
