The Bank Guarantee On FD is commonly used in commercial transactions where parties require security for performance or payment obligations. Under English and Welsh jurisdiction, this document creates a legally binding commitment from the bank to pay a specified sum to the beneficiary upon demand, backed by a fixed deposit. The guarantee typically includes details of the underlying fixed deposit, terms of enforcement, validity period, and conditions for payment. This instrument is particularly valuable in scenarios requiring financial security without immediate cash deployment.
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1. Parties: Details of the bank and the customer/beneficiary
2. Background: Context of the guarantee and fixed deposit arrangement
3. Definitions: Key terms used in the guarantee
4. Guarantee Amount: Specified amount of the bank guarantee
5. Fixed Deposit Details: Information about the underlying fixed deposit
6. Term and Validity: Duration and validity period of the guarantee
7. Obligations and Rights: Rights and obligations of all parties
1. Extension Provisions: Terms for extending the guarantee period when flexibility in duration is required
2. Step-in Rights: Bank's rights to step in under specific circumstances, used for complex commercial arrangements
3. Counter Indemnity: Additional indemnification provisions when additional security is required
1. Schedule 1 - Fixed Deposit Certificate: Copy of the fixed deposit certificate
2. Schedule 2 - Form of Demand: Standard format for making demands under the guarantee
3. Schedule 3 - Fee Schedule: Details of bank charges and fees
4. Appendix A - Supporting Documents: List of required supporting documentation
Relevant legal definitions
Bank
Fixed Deposit
Account Holder
Beneficiary
Guarantee Amount
Guarantee Period
Expiry Date
Demand
Business Day
Security Interest
Enforcement Event
Secured Obligations
Account
Maturity Date
Interest Rate
Guarantor
Underlying Transaction
Event of Default
Claim Period
Notice
Banking Hours
Permitted Transfer
Security Documents
Governing Law
Certificate of Deposit
Guarantee Fee
Material Adverse Change
Force Majeure Event
Fixed Deposit
Account Holder
Beneficiary
Guarantee Amount
Guarantee Period
Expiry Date
Demand
Business Day
Security Interest
Enforcement Event
Secured Obligations
Account
Maturity Date
Interest Rate
Guarantor
Underlying Transaction
Event of Default
Claim Period
Notice
Banking Hours
Permitted Transfer
Security Documents
Governing Law
Certificate of Deposit
Guarantee Fee
Material Adverse Change
Force Majeure Event
Clauses
Interpretation
Guarantee Issuance
Fixed Deposit Details
Duration and Validity
Payment Terms
Enforcement Rights
Claim Procedure
Security Interest
Representations and Warranties
Bank's Rights and Obligations
Account Holder's Covenants
Events of Default
Assignment and Transfer
Notices
Fees and Charges
Force Majeure
Termination
Governing Law and Jurisdiction
Amendments
Entire Agreement
Severability
Counterparts
Confidentiality
Indemnification
Set-off Rights
Waiver
Third Party Rights
Guarantee Issuance
Fixed Deposit Details
Duration and Validity
Payment Terms
Enforcement Rights
Claim Procedure
Security Interest
Representations and Warranties
Bank's Rights and Obligations
Account Holder's Covenants
Events of Default
Assignment and Transfer
Notices
Fees and Charges
Force Majeure
Termination
Governing Law and Jurisdiction
Amendments
Entire Agreement
Severability
Counterparts
Confidentiality
Indemnification
Set-off Rights
Waiver
Third Party Rights
Relevant Industries
Relevant Teams
Relevant Roles
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