Bank Guarantee Construction Project Template for Australia

1. Multiple Beneficiaries: Required when there are multiple parties entitled to make demands under the guarantee

2. Staged Reduction: Include when the guarantee amount reduces in stages aligned with construction milestones

3. Replacement Guarantee: Required when there are provisions for replacing the guarantee with another security

4. Foreign Law Compliance: Include when the guarantee might be called upon in foreign jurisdictions

5. Bank's Credit Rating: Include when there are specific requirements about maintaining minimum credit ratings

6. Counter Indemnity: Include when there are specific counter-indemnity arrangements between the bank and the contractor

1. Schedule 1 - Form of Demand: Template for making a valid demand under the guarantee

2. Schedule 2 - Construction Contract Details: Key details of the underlying construction contract including project specifics

3. Schedule 3 - Reduction Schedule: If applicable, schedule of staged reductions in the guarantee amount

4. Appendix A - Special Conditions: Any project-specific conditions affecting the operation of the guarantee

5. Appendix B - Authorized Signatories: List of persons authorized to make demands under the guarantee