A Letter of Credit Guarantee is essential in international trade and commercial transactions where parties seek secure payment mechanisms. This document is particularly relevant when dealing with Swiss banks or when parties choose Swiss law for its renowned stability and neutrality. The guarantee provides an independent, documentary-based payment undertaking from a bank, typically used in cross-border transactions to mitigate payment risks. The document includes specific terms regarding payment conditions, validity period, and documentary requirements, all structured within the Swiss legal framework. It's commonly used in trade finance, project finance, and large commercial transactions where the beneficiary requires a robust payment security backed by a Swiss bank's creditworthiness.
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1. Letterhead and Date: Bank's official letterhead and date of issuance
2. Reference Number: Unique guarantee reference number for tracking and identification
3. Beneficiary Details: Full name and address of the party in whose favor the guarantee is issued
4. Applicant Details: Full name and address of the party requesting the guarantee
5. Underlying Transaction: Reference to the primary transaction or contract being guaranteed
6. Guarantee Amount: The maximum amount of the guarantee and currency
7. Validity Period: Effective date and expiry date of the guarantee
8. Terms of Payment: Conditions under which the guarantee can be called and payment process
9. Governing Law: Explicit statement of Swiss law as governing law
10. Document Requirements: List of required documents for calling the guarantee
11. Bank's Undertaking: Clear statement of bank's obligation to pay upon compliant presentation
12. Authentication: Bank's authorized signatures and authentication details
1. Transferability Clause: Include when the guarantee needs to be transferable to another beneficiary
2. Partial Drawings: Include when multiple partial drawings are to be permitted
3. Force Majeure: Include when specific force majeure provisions are required beyond standard terms
4. Counter-Guarantee Reference: Include when issued under a counter-guarantee arrangement
5. Special Conditions: Include when there are additional specific conditions for calling the guarantee
6. Language Declaration: Include when the guarantee is issued in multiple languages
7. SWIFT Details: Include when the guarantee is to be advised through SWIFT
1. Form of Demand: Template for making a compliant demand under the guarantee
2. Underlying Contract Extract: Relevant excerpts from the underlying contract being guaranteed
3. Required Documents List: Detailed list of documents required for guarantee claims
4. Authorized Signatories: List of persons authorized to sign demands under the guarantee
5. Bank's Standard Terms: General terms and conditions applicable to bank guarantees
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