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Guarantee Cheque Against Advance Payment
"Need a Guarantee Cheque Against Advance Payment agreement for a 2 million AED advance payment to a construction contractor in Dubai, with the guarantee cheque to be held until project completion in March 2025, including provisions for partial releases against milestone completion."
1. Parties: Identification of all parties involved, including full legal names, addresses, and registration details for companies
2. Background: Context of the agreement, including the purpose of the advance payment and the need for the guarantee cheque
3. Definitions: Key terms used throughout the agreement, including 'Advance Payment', 'Guarantee Cheque', 'Project' (if applicable), and other relevant terms
4. Advance Payment Details: Specific details of the advance payment including amount, purpose, and payment schedule
5. Guarantee Cheque Details: Complete details of the guarantee cheque including cheque number, amount, date, and drawee bank
6. Terms and Conditions: Conditions for presenting and cashing the cheque, including triggers and notice requirements
7. Representations and Warranties: Declarations by both parties regarding their authority, solvency, and validity of the cheque
8. Default and Remedies: Consequences of default and available remedies for both parties
9. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
1. Project Milestones: Used when the advance payment is linked to specific project deliverables or milestones
2. Additional Security: Include when other forms of security are provided alongside the guarantee cheque
3. Bank Guarantee: Required when a bank guarantee is provided in addition to or instead of a personal/corporate guarantee
4. Return of Guarantee Cheque: Include when specific conditions for returning the guarantee cheque need to be detailed
5. Force Majeure: Include when parties want to address circumstances that might affect the execution of the underlying contract
1. Schedule 1 - Cheque Details: Detailed information about the guarantee cheque including copy of the cheque
2. Schedule 2 - Advance Payment Schedule: Breakdown of advance payment amounts and dates if paid in installments
3. Schedule 3 - Project Details: Details of the project or services for which advance payment is being made
4. Appendix A - Required Documents: List of supporting documents required from both parties
5. Appendix B - Contact Details: Contact information for authorized representatives of both parties
Authors
Agreement
Applicable Law
Authorized Representative
Banking Day
Business Day
Drawee Bank
Effective Date
Event of Default
Guarantee Cheque
Guaranteed Amount
Notice
Party/Parties
Payment Date
Project
Related Documents
Security
Services
Underlying Contract
Work
UAE
UAE Dirham
Valid Banking Day
Completion Date
Governing Law
Outstanding Amount
Presentation Date
Default Notice
Force Majeure Event
Guarantee Period
Guarantee
Security
Representations and Warranties
Conditions Precedent
Default
Remedies
Force Majeure
Notices
Assignment
Confidentiality
Governing Law
Jurisdiction
Entire Agreement
Severability
Amendments
Waiver
Costs and Expenses
Indemnification
Termination
Bank Rights
Dispute Resolution
Legal Compliance
Anti-Money Laundering
Counterparts
Time of Essence
Set-off Rights
Further Assurance
Language
Authority
Construction
Real Estate Development
Manufacturing
Trading
Professional Services
Technology Services
Engineering
Contracting
Industrial Services
Project Development
Infrastructure
Legal
Finance
Treasury
Procurement
Project Management
Risk Management
Operations
Commercial
Accounts Payable
Contract Administration
Chief Financial Officer
Finance Manager
Legal Counsel
Contract Manager
Project Manager
Treasury Manager
Accounts Payable Manager
Procurement Manager
Commercial Director
Risk Manager
Company Secretary
Financial Controller
Operations Director
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