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Sida NBP220424

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Adnan Saleem
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2K views

Sida NBP220424

Uploaded by

Adnan Saleem
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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STANDING INSTRUCTIONS FOR DEBIT TO ACCOUNT (SIDA)

Dated:
The Relationship Manager The Manager
Cash Management Division
National Bank Pakistan National Bank Pakistan
Branch Code: 0

Ref: Account number with the above-mentioned


branch for Standing Instructions for Debit to Account (SIDA)

Dear Sir,
I have entered borrowing arrangements with Canteen Stores Department (CSD) and have authorized them for collection of monthly
installment from my account as mentioned under reference above up till clearance of all outstanding dues payable by me under
aforesaid said borrowing agreement/arrangements (copy enclosed). Consequently, I hereby authorize NBP (NBP/”you”) to debit my
Account pursuant to written Instructions in form of invoice claim raised by CSD through electronic medium (hereinafter referred to as
the “Funds Transfer Instruction/ Direct Debit Instruction”). Under the said Standing Instructions for debit to account (“SIDA”), NBP will
be authorized as follows:

1. To debit my Account being maintained at NBP branch mentioned above on monthly basis for such instalment amount as
mentioned under CSD credit Note (duly signed by me or my authorised person) through the Funds Transfer Instruction /
Direct Debit Instruction provided herein and credit the same to CSD Main Collection Account at NBP and;
2. To carry out the above instructions without any reference or inquiry from me to satisfy the demand of CSD under the
borrowing agreement.
In view of the foregoing, I hereby undertake and agree as follows:
a) That I shall not be entitled to direct/instruct/ amend/vary/modify/withdraw/cancel authorization given herein in respect of
SIDA until clearance of my financial obligations towards CSD under borrowing agreement;
(b) That NBP is hereby authorized to provide to CSD such information about my Account from time to time which is necessary to
effectuate the transaction contemplated/executed under borrowing agreement including statement of deductions made in my
account and balance lying in my account etc.
(c) That during currency of my transaction with CSD under borrowing agreement, my Account will be closed only upon receipt of
NOC in writing from CSD and not otherwise;
(d) That all sums in my Account are first for making monthly instalment under borrowing agreement with CSD and then for
execution of my other banking transactions of any nature whatsoever. I hereby undertake not to execute any transactions to
frustrate the monthly instalment dues payable to CSD as mentioned herein.
(e) That you shall not delay transfer of funds from my Account to CSD designated Collection Account and that such transfer shall
be done as soon as the sufficient funds are available in the account when Funds Transfer Instruction/ Direct Debit Instructions
are received at your branch.
(f) NBP will recover charges for transferring as agreed with CSD.

(g) I agree that in case of insufficient balance in my bank account to pay my installment, a lien may be marked on my bank account.
I hereby agree that all the terms set out herein are binding on me and my NOK and shall not be varied/altered/amended/revoked in any
manner whatsoever without the explicit written approval of CSD.
Yours truly, Above mentioned credentials (account
Signature: ……………………………………………….. number & Signatures) have been
verified.
Name: ……………………………………………………..

CNIC: ……………………………………………………….
Bank Stamp & Signature
Date: ……………………………………………………….
1 Date:

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