Overdraft facilities

JOHNSON & JOHNSON

Old Market Square,

Singapore

Ref.No. JJ/F/33 Date: 17th March, 20.........

The Manager,

New Bank,

Cornway Street ,

Singapore .

Dear Sir,

We are having a Current Account with you bearing No. 134.

Our monthly turnover is above US$30000 and, our amount has never been overdrawn against our current account. Also not a single cheque of ours has been returned ever since we opened an account with you about eight years back.

We are now planning to enter into the export market for which we need additional funds of US $40000. We have been able to raise US$ 20000 from our friends and other sources but we still need US $20000 and hence we approach you for an overdraft facility of this amount.

For your perusal, we are enclosing a photocopy of our assessment for the year

20........ .as also copies of balance sheets and

profit and loss account for the last three years.

We shall be glad to mortgage our stock, which is always worth US $50000 and above.

We shall appreciate your immediate action in the matter.

Thanking you,

Yours faithfully,

For Johnson & Johnson

Manager

I. Photocopy of assessment

II. Copies of balance sheets and profit and

loss account for the last three years.

Note: Normally on the basis of above turnover, the bank will grant the required overdraft. Overdraft may be sanctioned against. Government Securities. Life Insurance Policies. Stock of goods, Machinery, Property etc. When an overdraft is sanctioned, all the partners of the firm will be required to sign various forms of the bank.