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    Deed of Undertaking

    Uploaded by

    Billie Balbastre-Roxas
    This document is a deed of waiver and undertaking between a corporation and a bank. [1] The corporation relieves the bank of obligations and liability regarding deposits made to the corporation's account using a short name, incomplete name, or unregistered acronym of the corporation. [2] The corporation assumes full responsibility for transactions in the account and warrants that deposits were from legitimate business and signatories were authorized. [3] The corporation agrees to limit deposits using the short/incomplete name for a set period, after which the bank will no longer accept those deposits.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Deed of Undertaking

    Uploaded by

    Billie Balbastre-Roxas
    3K views2 pages
    This document is a deed of waiver and undertaking between a corporation and a bank. [1] The corporation relieves the bank of obligations and liability regarding deposits made to the corporation's account using a short name, incomplete name, or unregistered acronym of the corporation. [2] The corporation assumes full responsibility for transactions in the account and warrants that deposits were from legitimate business and signatories were authorized. [3] The corporation agrees to limit deposits using the short/incomplete name for a set period, after which the bank will no longer accept those deposits.

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    deed of undertaking

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    deed of undertaking

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    This document is a deed of waiver and undertaking between a corporation and a bank. [1] The corporation relieves the bank of obligations and liability regarding deposits made to the corporation's account using a short name, incomplete name, or unregistered acronym of the corporation. [2] The corporation assumes full responsibility for transactions in the account and warrants that deposits were from legitimate business and signatories were authorized. [3] The corporation agrees to limit deposits using the short/incomplete name for a set period, after which the bank will no longer accept those deposits.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    3K views2 pages

    Deed of Undertaking

    Uploaded by

    Billie Balbastre-Roxas
    This document is a deed of waiver and undertaking between a corporation and a bank. [1] The corporation relieves the bank of obligations and liability regarding deposits made to the corporation's account using a short name, incomplete name, or unregistered acronym of the corporation. [2] The corporation assumes full responsibility for transactions in the account and warrants that deposits were from legitimate business and signatories were authorized. [3] The corporation agrees to limit deposits using the short/incomplete name for a set period, after which the bank will no longer accept those deposits.

    Copyright:

    © All Rights Reserved
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    DEED OF WAIVER AND UNDERTAKING

    KNOW ALL MEN BY THESE PRESENTS:

    ________________________________________ (hereafter referred to


    as the Corporation), a corporation duly established by and under the laws of the
    Republic of the Philippines, with place of business at
    _____________________________________________________, acting through its
    duly authorized representative/s, do hereby relieve and hold ___________________free
    and harmless of all its obligations as a Bank and waive and release ______, its
    employees, officers, directors and stockholders from any and all claims, responsibilities,
    actions, liabilities, compensation or damages which may have arisen, or may arise,
    resulting from or in any manner connected with, the deposit of checks payable to the
    short name/incomplete name/unregistered acronym in the deposit account of the
    corporation with _____. We agree to indemnify ______ for any and all claims by and/or
    liabilities to any other person, party or entity, with respect to any matter involving the
    deposit account.

    The Corporation hereby assumes full responsibility and liability for all
    transactions pertaining to the subject deposit account. It is hereby warranted that the
    deposit to the said account is as a result of the legitimate transactions of the
    Corporation in the ordinary course of business. It is further warranted that the
    signatories hereto were duly authorized to execute and deliver this Deed.

    Moreover, the Corporation undertakes to limit the deposit to the corporations


    bank account in the new name of checks payable to the aforesaid short
    name/incomplete name/unregistered acronym of the corporation for a period of ____
    months. Thereafter, the bank will no longer allow the deposit of the checks payable to
    short name/incomplete name/unregistered acronym of the corporation to the said bank
    account of the corporation.

    The corporation hereby agrees to abide by all of the Banks rules and regulations
    including any and all amendments thereto and it is expressly understood that SBC shall
    have the right to close the deposit account at anytime should it deem the same
    necessary in order to protect its interest.

    IN WITNESS WHEREOF, the signatories have set their hands on this ____ day
    of ______, 2004 at Makati City, Metro Manila, Philippines.

    (name of corporation)
    ______________________________________________________________

    By:

    __________________________ __________________________

    SIGNED IN THE PRESENCE OF :

    ________________________ ______________________

    ACKNOWLEDGMENT

    REPUBLIC OF THE PHILIPPINES )


    ) S.S.

    BEFORE ME, a Notary Public for and in the above jurisdiction, this _____ day
    of _________________, personally appeared:

    NAME COMM. TAX CERT. NO. DATE/PLACE OF ISSUE

    Corporation

    known to me and to me known to be the same persons who executed the foregoing
    instrument and acknowledged to me that the same is their voluntary act and deed and
    the free and voluntary act and deed of the principal represented herein for the uses and
    purposes therein set forth.

    WITNESS MY HAND AND SEAL on the date and place first above-written.

    NOTARY PUBLIC

    Doc. No.: _____;


    Page No.: _____;
    Book No.: _____;
    Series of 200_.

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