The Advising Bank In Bank Guarantee document is essential for banking institutions operating within the Indian jurisdiction that serve as advising banks in bank guarantee arrangements. This document becomes necessary when a bank takes on the role of an advising bank, responsible for authenticating and communicating bank guarantees to beneficiaries. It ensures compliance with Indian banking regulations, particularly those established by the Reserve Bank of India, while protecting the interests of all parties involved. The document includes comprehensive guidelines on operational procedures, risk management, fee structures, and compliance requirements, making it a crucial tool for maintaining standardized banking practices in bank guarantee transactions. Its implementation is particularly important given the increasing complexity of banking transactions and the need for clear accountability in financial operations within India's legal framework.
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1. Parties: Identification of the Advising Bank, the Guarantor Bank, and any other relevant parties
2. Background: Context of the bank guarantee arrangement and the role of the advising bank
3. Definitions: Key terms used throughout the document including banking, technical and legal terminology
4. Scope of Services: Detailed description of the advising bank's roles and responsibilities
5. Authentication Procedures: Procedures for verifying and authenticating bank guarantees
6. Communication Protocols: Standards and procedures for communication between parties
7. Fee Structure: Details of fees, charges, and payment terms for advising services
8. Liability and Indemnification: Extent and limitations of the advising bank's liability
9. Confidentiality Obligations: Requirements for handling confidential information
10. Record Keeping: Requirements for maintaining records and documentation
11. Term and Termination: Duration of the agreement and termination provisions
12. Governing Law and Jurisdiction: Applicable laws and jurisdiction for dispute resolution
1. International Banking Procedures: Required for cross-border bank guarantees, including SWIFT procedures and international banking standards
2. Digital Banking Provisions: Include when electronic processing of bank guarantees is involved
3. Anti-Money Laundering Compliance: Detailed AML procedures when dealing with high-risk transactions or jurisdictions
4. Force Majeure: Include when specific provisions for unforeseen circumstances are required
5. Language Requirements: Include for multi-language guarantees requiring translation or interpretation
6. Insurance Requirements: Include when specific insurance coverage is required for the advising bank
7. Business Continuity Procedures: Include when specific disaster recovery and business continuity requirements are needed
1. Schedule 1 - Fee Schedule: Detailed breakdown of all applicable fees and charges
2. Schedule 2 - Authentication Procedures: Step-by-step procedures for authenticating bank guarantees
3. Schedule 3 - Communication Templates: Standard templates for various communications
4. Schedule 4 - Required Documentation: List of documents required for different types of bank guarantees
5. Appendix A - Contact Details: List of key contacts and escalation matrix
6. Appendix B - Compliance Checklist: Checklist for ensuring compliance with regulatory requirements
7. Appendix C - Reporting Formats: Standard formats for various reports and notifications
Relevant legal definitions
Advising Bank
Applicant
Bank Guarantee
Beneficiary
Business Day
Confidential Information
Counter Guarantee
Effective Date
Electronic Communication
Expiry Date
Force Majeure Event
Guarantor Bank
Governing Law
Intermediary Bank
Issuing Bank
Letter of Credit
Material Adverse Effect
Notification
Original Bank Guarantee
Party/Parties
RBI
Relevant Authority
SWIFT
Security Interest
Services
Stamp Duty
Standard Operating Procedures
Term
Transaction Documents
Underlying Transaction
Working Hours
Authentication Procedures
Banking Day
Claim Notice
Compliance Requirements
Default Event
Fees
Indemnified Party
Liability Cap
Regulatory Requirements
Sanctioned Person
Service Level Standards
Termination Notice
Applicant
Bank Guarantee
Beneficiary
Business Day
Confidential Information
Counter Guarantee
Effective Date
Electronic Communication
Expiry Date
Force Majeure Event
Guarantor Bank
Governing Law
Intermediary Bank
Issuing Bank
Letter of Credit
Material Adverse Effect
Notification
Original Bank Guarantee
Party/Parties
RBI
Relevant Authority
SWIFT
Security Interest
Services
Stamp Duty
Standard Operating Procedures
Term
Transaction Documents
Underlying Transaction
Working Hours
Authentication Procedures
Banking Day
Claim Notice
Compliance Requirements
Default Event
Fees
Indemnified Party
Liability Cap
Regulatory Requirements
Sanctioned Person
Service Level Standards
Termination Notice
Clauses
Scope of Services
Authentication and Verification
Communications
Fees and Charges
Payment Terms
Representations and Warranties
Confidentiality
Data Protection
Record Keeping
Compliance
Anti-Money Laundering
Regulatory Requirements
Risk Allocation
Liability
Indemnification
Force Majeure
Term and Duration
Termination
Dispute Resolution
Governing Law
Jurisdiction
Notices
Assignment
Amendment
Severability
Entire Agreement
Electronic Banking
Security Procedures
Service Levels
Business Continuity
Counterparts
Third Party Rights
Language
Currency
Authentication and Verification
Communications
Fees and Charges
Payment Terms
Representations and Warranties
Confidentiality
Data Protection
Record Keeping
Compliance
Anti-Money Laundering
Regulatory Requirements
Risk Allocation
Liability
Indemnification
Force Majeure
Term and Duration
Termination
Dispute Resolution
Governing Law
Jurisdiction
Notices
Assignment
Amendment
Severability
Entire Agreement
Electronic Banking
Security Procedures
Service Levels
Business Continuity
Counterparts
Third Party Rights
Language
Currency
Relevant Industries
Banking
Financial Services
Insurance
Legal Services
International Trade
Construction
Infrastructure
Manufacturing
Government and Public Sector
Consulting
Relevant Teams
Legal
Compliance
Banking Operations
Risk Management
Trade Finance
Treasury
Corporate Banking
Financial Control
Regulatory Affairs
Documentation
Relevant Roles
Bank Manager
Compliance Officer
Legal Counsel
Banking Operations Manager
Risk Manager
Trade Finance Manager
Treasury Manager
Banking Relations Manager
Financial Controller
Corporate Banking Officer
Chief Financial Officer
Regulatory Compliance Manager
Banking Documentation Specialist
Senior Bank Executive
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