U​NDERTAKING​ ​FROM​ ​RETAIL​ ​CUSTOMERS /PSO COMPANY

                      

U​NDERTAKING​ ​FROM​ ​RETAIL​ ​CUSTOMERS 

I, __________________________son/daughter/wife of ______________________, resident of      ____________________________________ holder of CNIC No.___________________ Dealer of       Pakistan State Oil Company Limited’s (PSO) retail outlet ______________________situated at          ____________________________________Code # ____________, do hereby, on solemn affirmation,        undertake and state as under: 1. That I am the executants of this undertaking and as such fully conversant with the facts mentioned                 herein. 2. That I shall purchase, uplift and sell the following POL products from PSO on a credit during                 …………. ……….  PRODUCT MONTHLY TARGETS  ________________________ _________________________  

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3. That I further undertake that I shall meet the sales targets assigned to me by the due date ______                   given to me by PSO from time to time.  4. That in case of my failure to meet the sales targets, I fully undertake to compensate/pay PSO,                 equivalent to PSO’s distribution margins of the shortfall made in the sales targets.  5. That in case of default, I shall hold PSO, its officers, employees, representatives, fully safe, harmless                and indemnified against all losses, damages, claims, and all expenses incurred, suffered, sustained             or required to be paid, which may have resulted due to default on my part. 6. That in case of default, I fully undertake and authorize PSO to recover its recoverable amounts along                 with all penalties due as per PSO Credit Policy, by way of deducting the same from PSO cards’                  payments/rent/Dealership Security Deposit or through any other business transactions/business line          by run by me with the company, without any prior consent and or even notice to me, and for the said                     purpose, this may be deemed to be an irrevocable and unconditionally authorization.  7. That whatever stated above is true and correct to the best of my knowledge & belief and I have                   executed this Undertaking on this ______ day of ________________200 with my free will, consent,              without any fear, force, pressure or coercion, in presence of the following witnesses:  

EXECUTANT         _____________________________  Dealer, ___________________________  Name:____________________________    Address ___________________________ WITNESS 1 Signature: __________________________ Name: __________________________ Address: __________________________ CNIC #: __________________________   WITNESS 2 Signature : __________________________ Name: __________________________ Address: __________________________ CNIC #: __________________________