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DD Process Co To Trust - 2022

This document outlines the terms and conditions for a transaction between two parties, Company A and Organization B. It details a 14-step process for Company A to issue a demand draft of Rs. X Crores to Organization B in exchange for future RTGS transfers totaling the amount plus a premium. Key requirements include verification of identities and documents from both parties at Organization B's bank, issuance of the demand draft to Organization B's sister company, and transfer of funds by Organization A within 5-7 days.

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sneha1299sharma
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224 views3 pages

DD Process Co To Trust - 2022

This document outlines the terms and conditions for a transaction between two parties, Company A and Organization B. It details a 14-step process for Company A to issue a demand draft of Rs. X Crores to Organization B in exchange for future RTGS transfers totaling the amount plus a premium. Key requirements include verification of identities and documents from both parties at Organization B's bank, issuance of the demand draft to Organization B's sister company, and transfer of funds by Organization A within 5-7 days.

Uploaded by

sneha1299sharma
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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DD work process Co to Co – 2022-23

Processing fees of Rs. Lacs to be paid by 12:00 noon / /2022.

Day of Performance:- / /2022

Performance Time: . Am to . Am

Transaction Amount :- (Minimum): Cr.

Place :-

Bank & Branch :-

PROCEDURE

1. Both parties will meet in the B party bank between working time of :
a.m to : Am (time Should be followed strictly) nothing will be entertain
after working time is over. (B part will inform the Bank address one day
before).
2. W party will show the authorisation letter, Corporate ID and original personal
ID . B party should also show the Authorisation letter and personal ID.
3. B party account holder will pull out it’s account statement W part will verify the
same from their own sources from outside branch also . No CC/OD/LOAN/FD/
Dead a/c will be entertained. Signature verification through cheque cash
withdrawal process. After out once again statement will be taken for Entry for
withdrawal verification .The Company should be a Pvt. Ltd. Co. Only or if it is
a Trust than it should have under mentioned documents and registration
certificates. And having clear Current Account and must be registered under
trust act as trust.
4. Once verification is done W party will show Bank statement for availability of
fund for RTGS in account. If B party required they can note down the required
details and verify from their own sources. Hereafter any verbal negative
feed back will NOT be entertained until & unless it’s established by
documentary evidences.
5. Both parties will exchange their KYC.
6. Account holder will prepare a DD of Rs. cr as per the details given by
W part. Bankers should provide covering letter with DD mentioning that the
instrument issued by the bank is a DD and it can not be cancelled in any
circumstances. The DD will be Provided by B party and W party person can
note down the all required details form DD and its covering letter and it should
be allowed to send to the Company for final verification of the same from their
own sources also.

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7. Once its verified W part will hit the RTGS 2% of principle amount immediately
and rest of of Rs. cr + premium amount will be transferred
simultaneously in next 5-7 times.

8. B part will check it out in their account by doing in & out process.

9. DD will be given to W party along with no cancellation certificate From B


party and bank should also give no cancellation letter.

10. W Part will send the disclaimer / Donation letter on mail , hard copies will be
sent later on registered address with 5-7 working days by registered post.

Very IMP:-

1) B part shall issue DD in favour of W company's sister concern


company.DD will keep with bank manager till RTGS hit in B Party's
account . After that W party will take DD And letter in his custody.

2) In the case of Trust(Issuer): Trust should be purely registered under


Trust Act not Society Act.

3) Account holder should present personally with minimum 2 Unsigned


cheque.

4) Balance in the account (from which the DD is to be made) need 48 Hrs


cooling period.

Note:- In case of breach or non adherence of below mentioned points


company authorised person will leave the location & transaction will be
declared failure on part of B part.

1. Company authorised person will only meet B party’s MD/Chaiman / Trustee/


authorised person(s) only after verifying their documents / authorisation letter
and ID. No other person will be entertained and company person is not
answerable to any other person except authorised person of B party.

2. Company person will carry his phone all the time in active & switched on
condition. In or due to any situation company person will not switch his phone
off or hand over his phone to any one.

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3. In case of involvement or intervention of non authorised person / third person
from B party side or any kind of miss conduct/ threatening be it verbal or
physical. Making group gathering etc company authorised person will leave
the location immediately and it will be consider failure on the part of B party.

4. BRL Verification : Bank Information Letter Issued by receiving company


(latest) : As per new guidelines receiving party will inform his bank stating LEI
code in writing about expecting a investment of plus corpus from one
of the Indian company & from Indian bank on own letter head and get one
copy stamped from bank.

** Documents receiver trust has to bring at the time of transaction, duly


attested in 2 sets along with original for verification.
1. 12AA , 80G Certificate copy.
2. Registration certificate(Niti aayog registration certificate)
3. 5 black letter head.
4. Bye laws of the trust & rubber stamp.
5. 3 yrs. ITR copies
6. 3 yrs. Balance sheet & L&P account CA Audited.
7. Trust profile & activity in which trust is involved. Also the proof of
work trust has done so far.
8. All trustees profile, trust profile with photograph, PAN copy & ID
copy of all members of trust.
9. Last 6 month bank statement & canceled cheques. (Account
should be active & healthy)
10. Blanck cheque book to be carried while performance along with
signatory.
11. Latest BRL original as mentioned in ‘point #4 in sec Note’ above.
12. Resolution letter and no objection from the all trustees to receive
donation.
13. CA certified Project report in original.
14. Requisition letter in favour of trust seeking donation on Old
dated trust letter head.

The above terms and conditions are accepted to both the parties.

Signature of A party Signature of B party

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