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Security Cheque Handover Letter

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SECURITY CHEQUE HANDOVER LETTER

To
__________
__________

From
__________
__________
PAN: __________

Subject: Cheques handed over as security

Dear __________,

1. THE CHEQUES

2. WHAT THEY SECURE

2.2 Handing over the cheques does not discharge any part of the loan, and does not give you any right to the money in my account. The loan is discharged only when the money is actually repaid.

3. WHEN YOU MAY PRESENT THEM

3.2 You will present a cheque only for an amount actually due and unpaid under the loan at that time, and never for more than that.

3.3 If I repay the loan in full, or the amount due is paid by other means, you will not present any cheque.

4. RETURN OF THE CHEQUES

4.2 If you lose any cheque, you will tell me at once in writing, so that I can instruct my bank to stop payment on it.

5. MY CONFIRMATION

5.1 I confirm that the cheques are drawn on my own account, that I signed them myself, and that I understand the law on the dishonour of cheques may apply if a cheque is presented as allowed above and is not honoured.

Yours faithfully,

SIGNED by the GIVER
__________

Signature: ______________________________

ACKNOWLEDGEMENT BY THE LENDER

Signature: ______________________________
__________

WITNESSES

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