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Sole Prop Letter-1

The letter is a declaration by the sole proprietor of a firm, confirming their responsibility for the firm's affairs and authorizing ICICI Bank to debit their account for transactions signed by them. The proprietor agrees to comply with the bank's rules and terms outlined in a Sanction Letter and commits to informing the bank of any changes in the firm's constitution. The letter emphasizes the proprietor's obligation for all transactions and liabilities incurred with the bank.

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Avinash Nath
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9 views1 page

Sole Prop Letter-1

The letter is a declaration by the sole proprietor of a firm, confirming their responsibility for the firm's affairs and authorizing ICICI Bank to debit their account for transactions signed by them. The proprietor agrees to comply with the bank's rules and terms outlined in a Sanction Letter and commits to informing the bank of any changes in the firm's constitution. The letter emphasizes the proprietor's obligation for all transactions and liabilities incurred with the bank.

Uploaded by

Avinash Nath
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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SOLE PROPRIETORSHIP LETTER

I, the undersigned, declare that I am the sole proprietor carrying on business in the name and style of the
captioned firm and I am solely responsible for the conduct of the affairs of the firm.
Until receipt of written notice to the contrary, I authorize you to debit my account with all cheques purporting to
have been drawn thereon provided they have been signed by me.
I hold myself responsible for all such instructions and I agree to comply with and be bound by ICICI Bank’s rules
for the time being in force for the conduct and operation of such account. I also confirm that I am responsible for
all transactions entered into and obligations incurred with you whether under the name of the firm or in my
individual name in conjunction with others till I otherwise inform you in writing.
I propose to avail of the financial, monetary and any other products and services offered by ICICI Bank on the
terms and conditions set out in the Sanction Letter bearing reference no. [•] (“the Sanction Letter”) submitted by
us _________________ (“the Borrower”) to ICICI Bank.
I accept the terms and conditions contained in the Sanction Letter and as displayed on www.icicibank.com
regarding the provision of products and services offered by ICICI Bank and agree to such changes and
modifications in the said terms and conditions as may be suggested by ICICI Bank from time to time.

And do all such acts, deeds and things necessary, and to execute all such documents as are necessary, in
connection therewith, and to operate the said proposed account in the name of the firm, using the foresaid
facilities, and to accept and adhere to all the terms and conditions as are necessary and comply with all other
formalities as prescribed by ICICI Bank in this regard.
I agree to execute such deeds, documents and other writings as may be necessary or required for the purpose of
availing the facilities and to execute all such documents as are necessary, in connection therewith, and to accept
and adhere to all the terms and conditions as are necessary and comply with all other formalities as prescribed by
ICICI Bank in this regard.
I further undertake that I shall advise you in writing of any change that may take place in the constitution of the
firm resulting from my taking a partner in my business, its sale or disposal or my ceasing to have any interest in
the firm, in any of which event I will be liable to you on any and all obligations and receipt by you of such notice
and until all such obligations and liabilities shall have been liquidated or discharged.

For [•]
Signature: __________
Date: __________

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