Account Opening Form & Authority For Partnership Account

Form No. 10-B

ACCOUNT OPENING FORM & AUTHORITY
FOR PARTNERSHIP ACCOUNT

(a)Account No. Place ..........................……
Date ..................................
The Manager,
PUNJAB & SIND BANK
.............................Branch

Dear Sir,

We the undersigned................................................…………........................................
(Full Name of the partners)
.............................................................................................…………..................... are
carrying on business in co-partnership as ....................................................................
(Occupation)
Under the name style of Messrs...................................................................................
(Name & Address)
hereby request you to open/continue a(a) ..................... account for us in the name of
the said firm Messers....................................................................................................
(b) Current Cash Credit or
fixed Deposit as the
case may be ----------------------------------------------------
We hereby declare that we are the partners or members of the said firm and carry on
business in the similar other names at ............................................................................
................................................................................................................ and elsewhere.

2

We request and authorise you to honour all cheques or other orders which may be
drawn or bills accepted or notes made or receipts for moneys owning you to the firm
signed by (b)
......................................................................................................................................
(b) Any one, two or more of on behalf of the firm and to debit such cheques, orders bill notes and receipts to the
the partners or manager firm’s account or accounts with you whether such account or accounts be for the
or as the case may be time being in credit or overdrawn or may become overdrawn in consequence of such
(name/s to be mentioned debit and we will be jointly and severally responsible for the repayment of any such
if necessary. overdraft interest and other bank charges.

We also request you to accept balance confirmation letters signed by any one of us
or our said manager for acknowledgement of the balance due to or by you on the
above account. These confirmation letters signed by any one of us or our said
manager will be binding on the firm (before and after its dissolution and during
winding up, as well as on all the partners severally).

We further declare that Mr. ............................................................ is also authorised
to pay money, cheques, notes, drafts order & all other documents to the credit of our
said banking account or accounts and when needful to endose the same procuration
for us or on our account & from time to time on our behalf to certify the
correctness of the banking account or accounts, whether in credit or overdrawn to
receive cheques and other vouchers relating thereto and to receive or to issue
instructions for delivery to third parties with or without payment, shares, stocks or
any other security or securities relating to our said account or accounts not
withstanding the fact that the position of the said account or accounts allows or does
not allow their withdrawal.
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Upon any partner ceasing to be a member of the firm by death or otherwise you may
in absence of written notice from us or any one of us treat the surviving or continuing
partners or partner or other partners or partner for the time being as having full
power to carry on the business of the firm and deal with its assets as freely as if
there had been no change in the firm.

This authority shall remain in force until revoked in writing by any one of us
notwithstanding any change in the constitution or name of the firm and shall apply
notwithstanding any change in the membership of the firm by death, bank-ruptcy,
retirement or otherwise or the admission of any new partner and partners.

Whenever any change occurs in our partnership, we undertake to inform the Bank of
the same in writing and our individual responsibility to the Bank will continue, until, all
our liabilities with the Bank are discharged.

(a) We hereby declare that ours is not a registered firm.
(Please delete the clause which ¼[k½ gekjh QeZ iathÑr gS rFkk iathdj.k ds dk;kZy; dh lacaf/kr izfof"V dh ,d
not required and sign.)
(b) Ours is registered firm and we enclose a copy of the relative entry in the
office of the Registrar of Firms.

(Please delete the clause which cSad dks Hkh bldh ,d izfr fhktok nh tk;sxhA
not required and sign.)
(a) We hereby declare that there is no written partnership deed executed
amongst us so far and we undertake to furnish one to the bank as and
when it is executed.

(b) We enclose a true copy of the partnership deed executed amonst us.

(c) We hereby declare that a written partnership deed has been executed
amongst us but we do not want to disclose its contents. We however,
affirm that there is nothing in the said deed repugnant to the stipulations
we have made therein.
4

(d) “that, I/We, am/are not enjoying any credit facility with other bank/any
branch of your bank and I/We undertake to inform you in writing as soon
as any credit facility is available of by me/us from any other bank/any other
branch of your bank.”

“that, I/We, am/are enjoying credit facility with other branch(es) of your
bank as per details given in the enclosed sheet.”

We agree to comply with and be bound by the Bank’s Rules from time to
time in force for the conduct of such account.

Title of Account........................... Yours faithfully,

Name in Full, occupation and
address of partners gLrk{kj/Signature
............................................ ............................................
............................................ ............................................
............................................ ............................................
............................................ ............................................
............................................ ............................................
............................................ ............................................
............................................ ............................................
............................................ ............................................
............................................ ............................................

Introduced by .............................
(Signature)

Address .........................................
Open the Account
.......................................... ................................

.......................................... Accountant/Manager

SPECIMEN SIGNATURES
.................................................... ....................................................

5

CUSTOMER PROFILE
Branch Office : ...................................................................................................................................
Account No. Date of Opening

Name/Firm Name/Company Name

Qualification (Educational/Professional)
Local Address/Business Address

Permanent Address
..............................................................................................

Telephone No. Residence Office

Residential Status (Domestic/NRI)

Name and address of the Employer, if any
Length of service % ..............................................................................................
Purpose of opening the Account

Potential Activity expected in the account
(Monthly/Annual turnover)

Source of funds ls
Income Details : Below Rs. 1.0 Lac to 3.0 Lac and above 3.0 Lac.

Details of Movable and Immovable Property : (Such as own House/Vehicle etc.)

..............................................................................
Address Estimated Value

Vehicle: Car/Scooter Model Estimated Value
..............................................................................................
Classification of account as (High Risk/Low Risk)*

Observation of the official opening the Account
(Brief indicate reason for risk classification also)
Signature of the Customer

• High Risk : Customer transaction crossing threshold limit.

• Low Risk : Pensioner’s Account, Priority Sector/Micro Credit-Accounts specially opened for disbursing funds under Government
Sponsored Scheme such as SGSY, DRI, PMRY, etc.

BUSINESS PROFILE

(To be verified/filled in by the authorized Officer and Signed by Customer and Officer)
........................................................................................
Geographical location of the business

Nature/Activity of Business Occupation
.............................................................................................
Estimated Income
...........................................................................................
Any other source of Income
............................................................................................

Total Annual Income: Below Rs. 1.0 Lac,
1.0 Lac to 3.0 Lac and above 3.0 Lac

Approximate value of movable and
Immovable assets
............................................................................................
Details of existing bank account, if any
.............................................................................................
Details of Credit Facilities, if any, availed

Details of foreign countries visited, if any, during the last three years.
...........................................................................................................................................................................................
...........................................................................................................................................................................................

Signature of the Customer Signature of authorized officer
Branch Office