The Bank Guarantee By Government is a crucial financial instrument in the UAE's commercial and public sector landscape, commonly used to secure large-scale projects, financial obligations, or statutory requirements where government backing is essential. This document is particularly relevant when government entities need to provide financial assurance to private sector entities, international organizations, or other government bodies. The guarantee must comply with UAE federal legislation, including the Commercial Transactions Law (Federal Law No. 18 of 1993), Central Bank regulations, and the Public Debt Law (Federal Law No. 1 of 2019). It typically specifies the guaranteed amount, validity period, conditions for calling the guarantee, and claim procedures, while ensuring all necessary government approvals are in place. The document's structure reflects the specific requirements of UAE law regarding government financial obligations and banking procedures.
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1. Parties: Identifies the three key parties: the Government entity as guarantor, the bank as issuer, and the beneficiary
2. Background: Sets out the context and purpose of the guarantee, including reference to the underlying transaction or obligation
3. Definitions: Defines key terms used in the guarantee, including references to relevant laws and regulations
4. Guarantee Amount and Scope: Specifies the maximum guaranteed amount and nature of the guaranteed obligations
5. Terms and Conditions: Details the conditions under which the guarantee can be called upon and the process for making claims
6. Duration and Validity: Specifies the effective date, expiry date, and any automatic extension provisions
7. Governing Law and Jurisdiction: Confirms UAE law as governing law and specifies jurisdiction for dispute resolution
8. Government Approvals: References required government authorizations and approvals for the guarantee
9. Notice Requirements: Specifies the form and method of communications between parties
10. Execution: Formal execution block with required government and bank signatories
1. Counter-Indemnity: Optional section when the government requires counter-indemnity from the primary obligor
2. Assignment Restrictions: Include when transfer or assignment of guarantee rights needs to be restricted
3. Language Provisions: Required only when the guarantee is issued in multiple languages
4. Step-In Rights: Include when the government reserves right to step into the underlying transaction
5. Tax Provisions: Include when tax implications need to be addressed explicitly
1. Form of Demand: Template for making claims under the guarantee
2. Government Authority Approvals: Copies of relevant government approvals and authorizations
3. Underlying Transaction Documents: Summary or copies of the transaction documents related to the guarantee
4. Authorized Signatories: List of authorized signatories for the government entity and their specimen signatures
5. Fee Schedule: If applicable, details of any fees or charges related to the guarantee
Relevant legal definitions
Applicable Laws
Authorized Representatives
Bank
Beneficiary
Business Day
Claim Notice
Competent Authority
Default Event
Demand
Effective Date
Expiry Date
Government Authority
Government Guarantee
Guarantee Amount
Guaranteed Obligations
Issuing Branch
Ministry
Notice
Obligations
Principal
Project
Relevant Authority
Security Interest
Subsidiary
UAE
UAE Dirham
Underlying Agreement
Valid Claim
Working Hours
Authorized Representatives
Bank
Beneficiary
Business Day
Claim Notice
Competent Authority
Default Event
Demand
Effective Date
Expiry Date
Government Authority
Government Guarantee
Guarantee Amount
Guaranteed Obligations
Issuing Branch
Ministry
Notice
Obligations
Principal
Project
Relevant Authority
Security Interest
Subsidiary
UAE
UAE Dirham
Underlying Agreement
Valid Claim
Working Hours
Clauses
Guarantee Obligation
Payment Terms
Duration and Validity
Claims Procedure
Rights and Obligations
Force Majeure
Termination
Assignment and Transfer
Representations and Warranties
Notice Requirements
Enforcement
Dispute Resolution
Governing Law and Jurisdiction
Amendments and Modifications
Compliance with Laws
Government Approvals
Regulatory Requirements
Currency and Payment
Indemnification
Confidentiality
Severability
Entire Agreement
Authority and Capacity
Counter-Guarantee
Language
Communications
Default Events
Waiver
Costs and Expenses
Payment Terms
Duration and Validity
Claims Procedure
Rights and Obligations
Force Majeure
Termination
Assignment and Transfer
Representations and Warranties
Notice Requirements
Enforcement
Dispute Resolution
Governing Law and Jurisdiction
Amendments and Modifications
Compliance with Laws
Government Approvals
Regulatory Requirements
Currency and Payment
Indemnification
Confidentiality
Severability
Entire Agreement
Authority and Capacity
Counter-Guarantee
Language
Communications
Default Events
Waiver
Costs and Expenses
Relevant Industries
Banking & Financial Services
Government & Public Sector
Infrastructure & Construction
Energy & Utilities
Defense & Security
Healthcare
Education
Transportation & Logistics
Real Estate & Development
Telecommunications
Relevant Teams
Legal
Finance
Treasury
Government Relations
Compliance
Risk Management
Corporate Banking
Project Finance
Public Sector Relations
Regulatory Affairs
Relevant Roles
Chief Financial Officer
Treasury Manager
Government Relations Director
Legal Counsel
Compliance Officer
Project Finance Manager
Contract Manager
Risk Manager
Public Sector Director
Banking Relationship Manager
Financial Controller
Corporate Finance Director
Senior Government Advisor
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