Following is a sample of a Bank Letter of Guarantee. Your Bank will need to place this information on Bank letterhead. The original Letter of Guarantee MUST be given to the Sales Clerk, on day of sale, when you register as a Buyer.
Letter of Guarantee
RE: Letter of Guarantee for _______________________________________________(Name of auction and date., i.e. – Mayer Equipment Auction, January 9, 2010)
Attention: Rudy and Deborah Mayer
This letter serves to confirm that _____________________________________________________(the name on the checking account)** is a customer of this bank.
This bank will guarantee unqualified payment to Mayer Auctioneering on the Account Number ______________________________________(your bank account number on which the check will be written) up the amount of $___________________________________(a specified dollar amount. We will not allow a check to be written for over this amount)
This bank will not allow a “Stop Pay” to override this guarantee. This letter expires on _____________________________________(usually 2 weeks after the date of the auction)
_____________________________________________(Signature of Bank Representative)
**The name on the check must be the same as the person presenting their Driver’s License to obain a bidder number. If it is for a company and you are sending a “representative”, please contact the office and let us know in advance that you are sending a representative of the company.