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Compromise Proposal For Rs. For Settlement of Loan Account No of M/s. / Shri / Smt.

1) The document provides a format for a compromise offer letter that a borrower would submit to their bank to settle an outstanding loan. 2) The letter includes details of the outstanding loan amount, the proposed compromise amount and payment schedule, overdue interest rates, justification for the proposal, and sources of funds. 3) The borrower agrees that if they fail to adhere to the compromise terms, the bank can appropriate deposited amounts and continue legal recovery efforts to collect the total outstanding dues.

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Arvind Varma
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722 views2 pages

Compromise Proposal For Rs. For Settlement of Loan Account No of M/s. / Shri / Smt.

1) The document provides a format for a compromise offer letter that a borrower would submit to their bank to settle an outstanding loan. 2) The letter includes details of the outstanding loan amount, the proposed compromise amount and payment schedule, overdue interest rates, justification for the proposal, and sources of funds. 3) The borrower agrees that if they fail to adhere to the compromise terms, the bank can appropriate deposited amounts and continue legal recovery efforts to collect the total outstanding dues.

Uploaded by

Arvind Varma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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OTS Offer-Annexure

FORMAT OF COMPROMISE OFFER LETTER TO BE OBTAINED FROM THE


BORROWER

To

The Branch Manager,


United Bank of India,
------------ Branch.

Date:

Dear Sir,
Compromise Proposal for Rs. for Settlement of Loan Account No of
M/s. / Shri / Smt. .

I/We hereby submit that the debit balance in my/our captioned accounts for
Rs. (Rupees
only)plus interest from _________ is confirmed by me/us as on date. I/we hereby offer
my / our proposal for settlement of my/our dues through compromise with details as
under:
1. Amount offered Rs. (Rupees only)

2. The above offer is inclusive of legal charges/court fee / advocate fee /valuer fee/
publication charges etc.
OR

Legal charges / court fee / advocate fee / valuer fee / publication charges etc. of
Rs. will be paid by me / us in addition to the offer mentioned in para
1 above. (Please score out which ever not applicable).

3. Payment Schedule

(I) Paid a sum of Rs.

(II) To be paid Rs. by (date)

(III) To be paid Rs. by (date)


4. Overdue Interest
Interest @ % p.a. for the overdue period w.e.f. by
(date)

5. Thus the entire compromise amount in respect of my/our loan accounts No’s
will be paid latest by (date)

6. Justification for the proposal:


_.

7. Sources from which the funds are to be arranged:


.

8. It is well understood and agreed that in case I/We fail to adhere to the terms of
compromise, if approved, the Bank shall be at liberty to appropriate the amount
deposited in this case, towards the loan account.

I/We understand and agree that the above offer of ours / mine is subject to approval of
the competent authority of your Bank. Also that in case of our / failure to comply with
the terms of acceptance of this offer as per Bank’s discretion, the Bank will be at
liberty to initiate / continue the legal or other recovery remedies against us/me, for
recovery of total dues with interest and incidental charges what so ever. I/We are
agreeable for a consent decree in this regard. The Bank has all the rights to reject this
proposal without assigning any reason.

Yours faithfully Address :

Signature Contact No..

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