Margin Money Transfer

Sample / Template Letter Format for adjustment of Letter of Credit (LC) Margin Deposit with Current Account in word/.doc

RCL/SBI/2013-14/

October 19, 2013

The General Manager,                                                

State Bank of India,

MG Road

Bangalore – 145 457

Dear Sir,

       Sub :   Reversal of margin retained with you for issue of L/C.

                 

We have retained a Fixed Deposit with you, bearing No. ---------- dt. 30.06.2012 for Rs. 40,00,000.00 as margin, while we opened Letter of Credit.

Now, we have no Letter of credit outstanding with you and hence we request you to allow us premature payment of the said Fixed Deposit and credit the proceeds in our Cash Credit A/C  No.-------------- .

Please note in this connection that we shall retain margin afresh, while sending our request for opening of Letter of Credit in future. 

Thanking you,

Yours faithfully,

For Rocket Sales Ltd.

Authorised Signatory