PLEASE PRINT AND TAKE TO YOUR BANKER

Bank Letter of Guarantee Requirements

Bank letter of guarantee must comply with the guidelines below

Must be on official bank letter head.

Bank must state that they guarantee the payment of the check being presented. It is not acceptable for the bank to state the credit limit or

the balance of the individual person or company.

Must include the name of the individual person or company for whom the guarantee is being stated.

The individual person or company name on the check must match the name on the bank letter of guarantee.

Letter should contain the bank account number where the check will be drawn.

Account number printed on the check should match the account number on the bank letter of guarantee.

Letter should contain the actual number of the check that will be used to make the purchase.

A maximum dollar amount for which the bank will guarantee should be clearly stated.

Bank should state how long they will honor the guarantee.

Letter must be signed by an officer of the bank.

Example letter:

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Re: _____________________________ ( Bidders name on this line)

Dear Sirs,

This letter will serve as your notification that (BANK NAME) will irrevocably honor and guarantee payment for a period of (30) days for check number (CHECK #), written by (CUSTOMER NAME), up to the amount of $ (AMOUNT GUARANTEED), and drawn on account number (CUSTOMER ACCOUNT #). This guarantee is for the purpose of our customer's purchase of personal or real estate property in conjunction with the (PIERCE AUCTION SERVICE) auction being held in (LOCATION: CITY AND STATE) on (DATE OF AUCTION).

Sincerely,

Print Bank Officer Name

Bank Officer Signature and Title

Bank Telephone Number

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LOCAL CALLS:  1.336.731-2003   *   CELL-PHONE 1.336.813-3333   *   TOLL FREE:  1. 800.650-2427