The Drawdown Bank Guarantee is a crucial financial instrument in UAE commercial transactions, commonly used to provide security for contractual obligations, tender participations, and performance commitments. It serves as a risk mitigation tool where the guarantor bank undertakes to pay a specified amount to the beneficiary upon receiving a compliant demand. This document type is particularly relevant when businesses require financial security for commercial transactions in the UAE market. The guarantee must comply with UAE Federal Laws, including the Commercial Code and Central Bank regulations, and typically includes specific provisions for drawdown conditions, notice requirements, and payment terms. It's especially important in sectors such as construction, international trade, and government contracts, where financial security is a prerequisite for business engagement.
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1. Parties: Identifies the Bank (Guarantor), the Applicant (Principal), and the Beneficiary
2. Background: Details the underlying transaction or relationship necessitating the guarantee
3. Definitions: Defines key terms used throughout the guarantee
4. Guarantee Amount: Specifies the maximum amount of the guarantee and currency
5. Scope of Guarantee: Details the specific obligations or performance being guaranteed
6. Conditions for Drawdown: Specifies the circumstances and process under which the beneficiary can demand payment
7. Notice Requirements: Details the form and timing of demand notices
8. Payment Terms: Specifies how and when payment will be made following a valid demand
9. Expiry and Release: States the validity period and conditions for release of the guarantee
10. Governing Law and Jurisdiction: Confirms UAE law as governing law and specifies jurisdiction for disputes
1. Multiple Beneficiaries: Required when the guarantee is issued in favor of multiple beneficiaries
2. Counter-Guarantee Provisions: Needed when the guarantee is issued under a counter-guarantee structure
3. Assignment Provisions: Include when the guarantee needs to be transferable
4. Reduction Clauses: Required when the guarantee amount can be reduced over time
5. Language Provisions: Needed when the guarantee is issued in multiple languages
6. Electronic Presentation: Include when electronic presentation of documents is permitted
1. Form of Demand: Standard format for making a demand under the guarantee
2. Supporting Documents: List and specimens of required supporting documents
3. Fee Schedule: Details of bank fees and charges
4. Security Documentation: Forms of any security required from the applicant
5. Communication Details: Contact information and authorized representatives of all parties
Relevant legal definitions
Guarantee
Guarantee Amount
Applicant
Beneficiary
Business Day
Demand
Expiry Date
Event of Default
Guaranteed Obligations
Maximum Liability
Notice
Payment Date
Permitted Transfer
Principal
Supporting Documents
UAE
Validity Period
Governing Law
Compliant Demand
Counter-Guarantee
Drawdown Notice
Electronic Communication
Force Majeure Event
Guarantee Period
Original Guarantee
Presentation
Reduction Amount
Security
Underlying Transaction
Working Hours
Guarantee Amount
Applicant
Beneficiary
Business Day
Demand
Expiry Date
Event of Default
Guaranteed Obligations
Maximum Liability
Notice
Payment Date
Permitted Transfer
Principal
Supporting Documents
UAE
Validity Period
Governing Law
Compliant Demand
Counter-Guarantee
Drawdown Notice
Electronic Communication
Force Majeure Event
Guarantee Period
Original Guarantee
Presentation
Reduction Amount
Security
Underlying Transaction
Working Hours
Clauses
Guarantee Issuance
Payment Obligations
Demand Procedures
Notice Requirements
Representations and Warranties
Default Events
Force Majeure
Assignment and Transfer
Amendment and Variation
Governing Law and Jurisdiction
Confidentiality
Severability
Language
Communications
Compliance with Laws
Fees and Expenses
Indemnification
Expiry and Termination
Dispute Resolution
Counter-Guarantee
Electronic Presentations
Set-Off Rights
Currency Provisions
Anti-Money Laundering
Sanctions Compliance
Payment Obligations
Demand Procedures
Notice Requirements
Representations and Warranties
Default Events
Force Majeure
Assignment and Transfer
Amendment and Variation
Governing Law and Jurisdiction
Confidentiality
Severability
Language
Communications
Compliance with Laws
Fees and Expenses
Indemnification
Expiry and Termination
Dispute Resolution
Counter-Guarantee
Electronic Presentations
Set-Off Rights
Currency Provisions
Anti-Money Laundering
Sanctions Compliance
Relevant Industries
Banking & Financial Services
Construction & Infrastructure
International Trade
Real Estate Development
Manufacturing
Energy & Utilities
Government & Public Sector
Retail & Commercial
Transportation & Logistics
Telecommunications
Relevant Teams
Legal
Finance
Treasury
Risk Management
Procurement
Commercial Operations
Compliance
Trade Finance
Project Management
Account Management
Credit
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Commercial Director
Contract Manager
Legal Counsel
Risk Manager
Procurement Manager
Project Manager
Account Manager
Trade Finance Manager
Banking Relations Manager
Compliance Officer
Credit Manager
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