Conduct of Banks in Recovery of Loan Dues and Engagement of Recovery Agencies454A. Where a recovery agency has been engaged, the bank shall obtain an undertaking from the recovery agency that its recovery agents agree to abide by the code of conduct. A bank shall document the time and number of calls made by its employee / recovery agent to the borrower / guarantor for recovery of loan dues. (3) Only the representative(s) authorised by the bank / recovery agency shall visit the borrower’s / guarantor’s premises for activities related to recovery of loan dues. (9) An employee / recovery agent shall promptly give proper acknowledgement / receipt on collection / recovery of loan dues from the borrower / guarantor.