Electronic and Postal Communication (Licensing)
G.N. No. 430 (contd)
written demand from the AUTHORITY stating that the amount claimed is due by way of loss or
damage caused or would be caused to or suffered by the AUTHORITY by reason of breach by the
said LICENSEE of any of the terms or conditions contained in the said Licences or by reason of the
Licensee’s failure to perform any of its obligations under the said Licences.
3. We, ………………………………………..( “the BANK”), do hereby agree that the
decision of the Authority as to whether the LICENSEE has failed to or neglected to perform or
discharge his duties and obligations under the terms and conditions of the said Licences and as to
the amount payable to the AUTHORITY by the Bank hereunder shall be final and binding on the
Bank.
4. We,………………………………….(“the BANK”), DO HEREBY DECLARE AND AGREE
that:(a) the Guarantee herein contained shall remain in full force and effect up to -------------------------------, 20…… or shall expire on the date that the full GUARANTEED AMOUNT has been paid to
the AUTHORITY under the terms and conditions of this guarantee;
(b) the AUTHORITY shall have the fullest liberty without our consent and without affecting in any
manner our obligations hereunder to vary any of the terms and conditions of the said Licences or to
extend time of performance of any obligations by the said LICENSEE from time to time or to
postpone for any time or from time to time any of the powers exercisable by the AUTHORITY
against the said LICENSEE and to forbear or to enforce any of the terms and conditions relating to
the said Licences and we shall not be relieved from our liability by reason of any variation or
extension being granted to the said LICENSEE or forbearance act or omission on the part of the
AUTHORITY or any indulgence by the AUTHORITY to the said LICENSEE or to give such
matter or thing whatsoever which under the law relating to sureties would but for this provision,
have effect of so relieving us.
(c) any claim which we have against the LICENSEE shall be subject and subordinate to the prior
payment and performance in full of all the obligations of us hereunder and we will not without
prior written consent of the AUTHORITY exercise any legal right or remedy of any kind in respect
of any such payment or performance so long as the obligations of us hereunder remain owing and
outstanding.
5. We, ……………………(the BANK) undertake to pay the AUTHORITY the amount demanded
within thirty days after receipt of the demand.
6. The guarantee is neither negotiable nor transferable, is restricted to the payment of the sum of
money only and is limited to the GUARANTEED AMOUNT.
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