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    Ubi 4

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    boomtech
    This document is a certificate from a borrower to a bank providing details of book debts that have been hypothecated as collateral. It includes a list of debtors and amounts owed as of a date. The borrower certifies that the debts are valid, recoverable, undisputed and net of any amounts owed. It also certifies that the debts were incurred in the normal course of business, are properly recorded, and have a realizable value equal to the stated amounts. The bank is authorized to inspect the borrower's books to verify the details of the book debts provided in this certificate.

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

    Ubi 4

    Uploaded by

    boomtech
    38 views1 page
    This document is a certificate from a borrower to a bank providing details of book debts that have been hypothecated as collateral. It includes a list of debtors and amounts owed as of a date. The borrower certifies that the debts are valid, recoverable, undisputed and net of any amounts owed. It also certifies that the debts were incurred in the normal course of business, are properly recorded, and have a realizable value equal to the stated amounts. The bank is authorized to inspect the borrower's books to verify the details of the book debts provided in this certificate.

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    UBI 4

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    This document is a certificate from a borrower to a bank providing details of book debts that have been hypothecated as collateral. It includes a list of debtors and amounts owed as of a date. The borrower certifies that the debts are valid, recoverable, undisputed and net of any amounts owed. It also certifies that the debts were incurred in the normal course of business, are properly recorded, and have a realizable value equal to the stated amounts. The bank is authorized to inspect the borrower's books to verify the details of the book debts provided in this certificate.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    38 views1 page

    Ubi 4

    Uploaded by

    boomtech
    This document is a certificate from a borrower to a bank providing details of book debts that have been hypothecated as collateral. It includes a list of debtors and amounts owed as of a date. The borrower certifies that the debts are valid, recoverable, undisputed and net of any amounts owed. It also certifies that the debts were incurred in the normal course of business, are properly recorded, and have a realizable value equal to the stated amounts. The bank is authorized to inspect the borrower's books to verify the details of the book debts provided in this certificate.

    Copyright:

    © All Rights Reserved
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    of 1

    CERTIFICATE to be furnished by the BORROWER

    alongwith BOOK - DEBT STATEMENT


    UNION BANK OF INDIA
    KATOL ROAD ,BRANCH

    Dear Sir,
    Statement of Book - Debts hypothecated by us to the Bank

    We enclosed the list of debtors and the amounts due by them to us on 31.01.2023 as appearing in our books and which are
    hypothecated by us to you (details as per attached statement). Certificate confirming correctness of the data furnished certified by
    our Auditors is also enclosed*. We confirm that all the book-debts due by our debtors to us are hypothecated by us to you, although
    drawing limit will be allowed to us only against book-debts not more than _________ months old.

    We hereby declare and certify as follows:

    a)       that each of the debt listed is valid due to us and is good and recoverable in full in the usual and ordinary course of business.

    b)      that the list does not include any debts which are bad and doubtful of recovery or for which there is any decree of any Court or
    any dispute or cause of action pending against the debtor/s.

    c)       that the amount of each of the debts is the net balance, i.e. the balance after deducting all amounts due by us to each of the
    debtors and after deducting all discounts, commissions, claims, set offs, etc.

    d)      that each of the debts is free from any claim , lien, encumbrance, assignments, charges, etc except the charge in favor of the
    Bank.

    e)      that each of the debts arose out of bonafide transactions in the ordinary course of our business.

    f)        that each of these debts is entered into proper books of accounts maintained by us in ordinary course of business.

    g)       that the aggregate realisable value of the book debts listed above, in the ordinary course of business is at least equal to the total
    amount at which they are stated in this Certificate.

    We are aware and acknowledge that it is on the faith and strength of this declaration of our and other similar declarations made and
    to be made from time to time that this advance is granted and will be continued by the Bank.

    In order to verify our statement of particulars of book-debts the Bank is at liberty to inspect our books of accounts and/or to make
    extract or copies thereof at any time at our expenses and we hereby agree to accept the same as conclusive proof of the result of
    such inspection as certified by any Officer of the Bank.

    Thanking you,

    Signature Yours faithfully

    VERIFIED

    __________________
    Seal & Signature of
    (BANK OFFICIAL)

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