Legal Question in Banking Law in United Arab Emirates

can we issue Fixed Deposit Receipt in lieu of tender bond?


Asked on 1/13/16, 4:05 am

2 Answers from Attorneys
Shaji Natarajan Salam Advocates & Legal Consultants

Hi,

Your question does not contain all the required information, including your legal status while issuing the said Documents. However it has to be borne in mind that Fixed Deposit and Tender Bond are entirely different and do not substitute each other.

For further clarifications, you may mail to [email protected] or call on 0502104389.

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Answered on 1/13/16, 4:28 am
Fca Prashant Chavan Expert Edge LLP

13.01.2016

Dear Sir / Madam,

No, if the tender specifically insists on a tender bond, issue of a Fixed Deposit Receipt in lieu of the Bond may render the bid invalid.

Regards,

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Answered on 1/13/16, 5:23 am


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