The Withdrawal of Bank Guarantee Letter is a crucial document in Indian banking operations, used when a party needs to formally request the cancellation of a bank guarantee that is no longer required or has served its purpose. This document becomes necessary in various scenarios, such as when a contract has been successfully completed, when contractual obligations have been fulfilled, or when the original purpose of the guarantee has been satisfied. The letter must conform to Indian banking regulations and RBI guidelines, containing specific details about the original guarantee, clear justification for withdrawal, and proper authorization. It serves as a formal record of the request to terminate the bank's financial commitment and typically requires supporting documentation to process the withdrawal effectively.

1. Letter Header: Bank's letterhead, date, reference number, and addressee details

2. Subject Line: Clear indication that this is regarding withdrawal of bank guarantee with the BG number

3. Reference Details: Original bank guarantee details including number, amount, date of issue, and purpose

4. Beneficiary Information: Details of the party in whose favor the bank guarantee was issued

5. Withdrawal Request: Clear statement requesting withdrawal/cancellation of the bank guarantee

6. Reason for Withdrawal: Explanation of why the bank guarantee is being withdrawn (e.g., completion of contract, expiry)

7. Return of Original Document: Request for return of original bank guarantee document if applicable

8. Authorization: Statement of authority under which the withdrawal is being requested

9. Closure Statement: Professional closing and signature block with authorized signatory details