SPECIMEN TEXT OF BANK GUARANTEE

 

BANK GUARANTEE NUMBER: _____________________________

CURRENCY: United States Dollars

AMOUNT: ___________________________

BENEFICIARY:

DATE OF MATURITY: _______________________________________

REF. PAYMENT NO.:†† _______________________________________

 

WE, (NAME OF BANK ) , HEREBY ISSUE IN YOUR FAVOR OUR confirm IRREVOCABLE, UNCONDITIONAL, FIRST DEMAND GUARANTEE NO. ____________FOR____________ (USD), WITH ACCRUED INTEREST AND CHARGES.

 

WE HEREBY UNDERTAKE TO PAY YOU IRREVOCABLY AND UNCONDITIONALLY ON YOUR FIRST DEMAND, MADE BY TESTED TELEX OR FAX AND WITHOUT REFERENCE TO OUR PRINCIPALS OR ANY OTHER PARTY, ANY AMOUNT UP TO____________________ UNITED STATES DOLLARS (USD$___________ ), PLUS ACCRUED INTEREST AND CHARGES, NOT WITHSTANDING ANY CONTENTION OF ANY NATURE WHATSOEVER, BY OUR PRINCIPAL OR ANY OTHER PARTY, OR ANY OTHER LEGAL ACTION, INJUNCTION OR DEFENSE, ARISING FROM ANY PARTY, ALL OF WHICH ARE HEREBY WAIVED.

 

WE ALSO, HEREBY IRREVOCABLY AND UNCONDITIONALLY UNDERTAKE TO REIMBURSE YOU ON DEMAND ALL COST AND EXPENSE, INCLUDING LEGAL FEES, WHICH YOU MAY INCUR IN CONNECTION WITH THE ENFORCEMENT OF THIS GUARANTEE. THE GUARANTEE HAS BEEN INSURED IN ACCORDANCE WITH THE PREVAILING CONTROL REGULATIONS IN ______________ , WITHOUT CONTRAVENTION OF ANY OF ITíS RULES OR PROVISIONS AND IS VALID FOR ANY CLAIM(S) RECEIVED FROM YOU ON OR BEFORE (MONTH, DAY, YEAR)

 

THIS BANK GUARANTEE IS TRANSFERABLE, ASSIGNABLE AND DIVISIBLE. THIS GUARANTEE IS ISSUED AND SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICES OF ICC 500. THIS BANK GUARANTEE EXPIRES AFTER ONE (1) YEAR AND THIRTY INTERNATIONAL BANKING DAYS ON THE (DAY) OF (MONTH) IN THE YEAR, AND AFTER THIS DATE BECOMES NULL AND VOID.

 

THIS GUARANTEE IS CLEAR OF ANY LIEN AND ENCUMBRANCES AND IS OF NON-CRIMINAL ORIGIN.

 

BY: _______________________________†††††††††††††††††††††††††††††††††††††††††††††† BY: _______________________________

AUTHORIZED BANK OFFICER †††††††††††††††††††††††††††††††††††††††††††††††† AUTHORIZED BANK OFFICER

 

NAME AND TITLE ††††††††††††††††††††††††††††††††††††††††††††††††††††††† †††††††††††††††NAME AND TITLE