Bank Guarantee Format Forbase Minimum Capital (BMC)/Additional Deposit/ Additional Base

Bank Guarantee format forBase Minimum Capital (BMC)/Additional Deposit/ Additional Base Capital(ABC)

(Nameof theBank and Bank Stamp)

[EnclosedBankGuaranteeshould bestampedasunder:Non-Judicial stamppaper of Rs.300or thevalueprevailing in theStatewhereexecuted,whicheverishigher.]

Thefollowingisrequiredtobetypedon theStampPaper astheFirstPageand dulysigned:

ThisNon-JudicialStamppaper of Rs.

formspartandparcelofthisBankGuarantee

number dated issuedinfavourofIndianCommodityExchange

Ltd.byusfor M/s. .

FOR (BANK)

(BRANCH)

AUTHORISED SIGNATORIES SEAL OFTHEBANK

NOTE:

1) TheBGistobeissuedaspertheenclosedformat.TheformatisalsoavailableatICEX's website(

2) Alltheblanksintheformatarerequiredtobedulyfilledbytheissuingbankalongwith theirstampand signatureagainsteachblank iffilledseparately.

3) Eachpageofthebankguaranteeshouldbearthebankguaranteenumberandshouldbe signedbytwoauthorisedsignatoriesof thebank.

4) The BG should be issued for a minimum period of 1 (one) year and maximum period of 3 (three) years.

5) The claim period of BG should not be less than 1 (one) month.

GUARANTEE

ThisguaranteesbearingNo.

isissuedby

bank>,abankingCompany/Corporation registered/constitutedunderthe Act19 ,havingitsHead

Office/CorporateOffice/RegisteredOfficeat

(hereinafterreferredtoasthe"THEBANK"whichtermshallwherever the contextsopermits,includesitssuccessorsandassigns)infavourofIndianCommodity ExchangeLtd.,acompanyestablishedundertheCompaniesAct,1956andhavingitsHead OfficeatReliable Tech Park, 403-A, B-Wing,4th Floor, Thane-Belapur Road, Airoli (E), Navi Mumbai – 400708,India. Tel.No:+91-22-40381500,(hereinafterreferredtoas"ICEX"whichexpressionshallincludeitssuccessorsand permittedassigns).

WHEREAS,

1. Mr. /Ms

S/o / D/o

residing at

havingitsoffice at

(CompleteAddress),(hereinafterreferredtoas

the“ClearingMember"/“Self ClearingMember"/ “Trading Member”,whichexpressionshallincludeitssuccessorsandassigns)is/area Clearingmember/Self ClearingMember/ Trading Member of ICEX.

BG No:

Dated:

Mr./Ms.

proprietorof

having its office at

(CompleteAddress),(hereinafterreferredtoas the “ClearingMember"/“Self ClearingMember"/ “Trading Member”,whichexpressionshallincludeitssuccessorsandassigns)is/area Clearingmember /Self ClearingMember/ Trading Member of ICEX

M/s

apartnershipfirmregisteredunderthe

IndianPartnershipAct,1932andhavingitsoffice at

(Complete Address), (hereinafter referred to as the “Clearing Member"/“Self ClearingMember"/ “Trading Member”, which expression shall includeitssuccessorsand assigns)is/are a Clearingmember/Self ClearingMember/ Trading Member of ICEX.

M/sLimited,incorporatedasa

companyunder theCompanies Act,1956and having itsregisteredoffice at

BG No:

Dated:

______

2.OneoftheconditionsofMembershipofICEXisthattheMembermaintainswithICEX margindepositsindifferentformslikeCashdeposit/Fixeddeposits/Bankguaranteesalongwith other collaterals

3.AttherequestoftheMember,ICEXhasagreedtoacceptabankguarantee inlieuofBase Minimum Capital (BMC)/Additional Deposit/ Additional Base Capital (ABC),asthecasemaybeinfavourofICEX fromanapprovedcommercialbankforanequivalentamountofRs. (Rupees

only).

4.TheMemberhasrequestedtheBanktofurnishtoICEXaguaranteeforRs. (Rupees only).

NOW IN CONSIDERATION OFTHE FOREGOING,

1.We, the (NameofBank)

having a branch at

(CompleteAddressofBranch)at therequestanddesireoftheMemberdoherebyirrevocablyandunconditionallyguaranteeto pay asumofRs. ,(Rupees only)toICEXasasecurityfordue performanceandfulfillmentbytheMemberofhis/her/itsengagements, commitments, operations, obligations or liabilitiesasa Member of ICEXincludingany sumsduebythe MembertoICEXoranyotherpartyasdecidedbyICEXarisingoutoforincidentaltoany contractsmade,executed, undertaken, carriedonorenteredintoorpurportedsotobe,bythe Member.TheBankagreesandconfirmsthatthesaidguaranteeshallbeavailableasasecurityfor

meeting,satisfying,dischargingorfulfillingalloranyobligationorliabilityoftheMemberas directedand decidedbyICEX, withno referencetotheMember.

2.TheBankhereby agreesthatifintheopinionofICEX,theMemberhasbeenormaybecome unabletomeet,satisfy,dischargeorfulfillanyobligations,liabilityorcommitments oranypart thereoftoICEX,oritsClearingandSettlementmechanism/arrangementortoanyotherparty asdecidedbyICEX,thenwithoutprejudice totherightsofICEXunderitsRules,Bye-Laws or Regulations orotherwise,ICEXmayatanytimethereafterandwithoutgivinganynoticetothe Memberinvokethisguaranteetomeettheaforesaidobligations,liabilitiesorcommitmentsofthe Member.

3.TheBankundertakes thatitshall,onfirstdemandofICEX,withoutanydemur,protestor contestationandwithoutanyreferencetotheMemberandnotwithstandinganycontestationby

theMember,paytoICEXsuchsumsnotexceedingRs

(Rupees

only)asmaybedemandedbyICEX. Thedecisionof ICEXastotheobligationsorliabilitiesorcommitmentsoftheMemberandtheamountclaimed shallbefinalandbindingontheBank,andanydemandmadeontheBankshallbeconclusiveas regards theamount dueand payable bytheBank underthisguarantee.

4.Theguaranteeshallbeacontinuing guaranteeandremainoperativeinrespectofeachofthe obligations,liabilitiesorcommitments oftheMemberseverallyandmaybeenforcedassuchin thediscretionofICEX,asifeachoftheobligations,liabilitiesorcommitments hadbeen separatelyguaranteed bytheBank.Theguaranteeshallnotbeconsidered ascancelledorinany wayaffectedonanydemandbeingraisedbyICEXbutshallcontinueandremaininoperationin respectofallsubsequentobligations,liabilitiesorcommitmentsoftheMember.Howeverthe maximumaggregateliabilityoftheBankduringthevalidityoftheguaranteeshallberestrictedto anaggregatesumofRs. (Rupees

only).

5.Notwithstandingtheabove,theBanknotesthatthenatureofoperationsoftheMemberis suchthattheobligations,liabilitiesorcommitmentsoftheMemberareofacontinuingnature and assuch,Bank agreesthatthisguaranteecanbeinvokedbyICEX evenin respectof the

BG No:

Dated:

obligations,liabilitiesorcommitments oftheMembertowardsICEXwhichmighthavearisen prior totheexecutionof thisguarantee.

6.ThisguaranteeshallnotbeprejudicedbythefailureoftheMembertocomplywiththeRules orByeLawsorRegulationsofICEXoranytermsandconditionsattendanttotheMembership ofICEX.ICEXshallbeatlibertytovary,amend,changeoralteranytermsorconditions orits RulesorByeLawsorRegulationsofMembershiptoICEXingeneralorasapplicabletothe Memberinparticularfromtimetotime,withouttherebyaffectingitsrightsagainsttheMember ortheBankoranyothersecuritybelongingtoMembernoworhereafter heldortakenbyICEX atanytime.Thediscretiontomakedemandsunderthisguaranteeshallexclusivelybethatof ICEXandICEXisentitledtodemandhereundernotwithstandingbeinginpossessionofany depositsor other securitiesof theMember.

7.ThevalidityofthisguaranteeshallnotbeaffectedinanymannerwhatsoeverifICEXtakes any actionagainst the Member includingDECLARATION OF A DEFAULTER, SUSPENSION or EXPULSION of theMember from themembership of ICEX.

8.ThisguaranteeshallnotbeaffectedbyanychangeintotheconstitutionofICEXorthe MemberortheBankanditshallremaininforcenotwithstandinganyforbearanceorindulgence thatmaybeshown byICEX toMember.

9.TheBankundertakestopaytoICEX,theamountherebyguaranteedwithin24hoursofbeing servedwithawrittennoticerequiringthepaymentoftheamounteitherbyhanddelivery orby RegisteredPostor bySpeedPost.

10.Thisguarantee maybeinvokedbyICEXinpart(s)withoutaffectingitsrightstoinvokethis guaranteefor any liabilitiesthatmaydevolvelater.

BG No:

Dated:

11.TheBankundertakesnottorevokethisguaranteeduringitscurrencyexceptwiththe previousconsentofICEXinwritingandthisguaranteeshallbeirrevocableguaranteeuptoa sum of Rs.

(Rupees only).

12.Notwithstandinganythingmentionedherein above,

a)TheliabilityoftheBankunderthisguaranteeshallnotexceedRs. (Rupees only)

b)Thisguaranteeshall bevalidfor a period of ___months i.e.up to .

c)ThebankisliabletopaytheguaranteedamountifICEXservesupontheBankawritten claim ordemandonorbefore (ClaimDate i.e.within months afterthedateofexpiryofthebankguarantee)afterwhichthisbankguaranteewill becomenullandvoidandallICEX’srightsunderthisguaranteeshallcease andthebank shallberelievedanddischarged fromallliabilitieshereunder, irrespective ofwhetherthe original guarantee,dulydischarged,isreturnedtoBank for cancellation..

Executedthis dayof at (place)

FOR (BANK)

(BRANCH)

AUTHORISED SIGNATORIES SEAL OFTHEBANK