The Bank Guarantee Transferable is a specialized financial instrument commonly used in Malaysian commercial transactions where the original beneficiary may need to transfer their rights to another party. This document is particularly relevant in complex project financing, international trade, and construction projects where contractual obligations may be assigned or transferred. The transferable nature of the guarantee provides flexibility in commercial arrangements while maintaining the security of a bank's undertaking. The document must comply with Malaysian banking regulations, including the Financial Services Act 2013 and relevant Bank Negara Malaysia directives, and can be structured to accommodate both conventional and Islamic banking requirements. It includes specific provisions for transfer procedures, documentation requirements, and claim mechanisms.
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1. Parties: Identification of the guarantor bank, the applicant (principal), and the beneficiary
2. Background: Context of the guarantee issuance and the underlying transaction
3. Definitions: Key terms used throughout the guarantee document
4. Guarantee Amount: The maximum sum guaranteed and currency specification
5. Scope of Guarantee: The specific obligations or performance being guaranteed
6. Transfer Provisions: Terms and conditions for transferring the guarantee to another beneficiary
7. Claim Procedures: Process and requirements for making claims under the guarantee
8. Expiry and Validity: Duration of the guarantee and conditions for extension
9. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction
10. Notices: Communication procedures between parties
1. Counter Guarantee: Required when involving an international bank or corresponding bank arrangement
2. Islamic Banking Compliance: Required when the guarantee needs to comply with Shariah principles
3. Multiple Transfers: Include when multiple successive transfers are to be permitted
4. Foreign Currency Provisions: Required when the guarantee involves foreign currency considerations
5. Step-in Rights: Include when specific step-in rights are required for the beneficiary
1. Form of Transfer Notice: Template for the formal notice of transfer
2. Claim Documentation Requirements: List of required documents for making a valid claim
3. Authorized Signatories: List of persons authorized to sign transfer notices and claims
4. Underlying Contract Details: Summary of the principal contract being guaranteed
5. Bank's Standard Terms and Conditions: General terms applicable to all bank guarantees issued by the bank
Relevant legal definitions
Applicant
Bank
Beneficiary
Business Day
Claim
Counter Guarantee
Expiry Date
Guarantee Amount
Guarantee Period
Governing Law
Letter of Transfer
Maximum Liability
Notice
Original Beneficiary
Payment Demand
Principal Contract
Ringgit Malaysia
Security Interest
Transfer Date
Transferee
Transfer Notice
Transfer Rights
Underlying Transaction
Valid Claim
Bank
Beneficiary
Business Day
Claim
Counter Guarantee
Expiry Date
Guarantee Amount
Guarantee Period
Governing Law
Letter of Transfer
Maximum Liability
Notice
Original Beneficiary
Payment Demand
Principal Contract
Ringgit Malaysia
Security Interest
Transfer Date
Transferee
Transfer Notice
Transfer Rights
Underlying Transaction
Valid Claim
Clauses
Definitions
Scope of Guarantee
Payment Obligations
Transfer Rights
Claim Procedures
Documentation Requirements
Transfer Mechanics
Representations and Warranties
Bank's Rights and Obligations
Beneficiary's Rights and Obligations
Applicant's Undertakings
Validity Period
Force Majeure
Amendment Provisions
Transfer Restrictions
Notices
Compliance with Laws
Islamic Banking Compliance
Regulatory Requirements
Governing Law
Jurisdiction
Assignment
Severability
Entire Agreement
Counterparts
Stamp Duty
Bank's Standard Terms
Dispute Resolution
Confidentiality
Currency Provisions
Scope of Guarantee
Payment Obligations
Transfer Rights
Claim Procedures
Documentation Requirements
Transfer Mechanics
Representations and Warranties
Bank's Rights and Obligations
Beneficiary's Rights and Obligations
Applicant's Undertakings
Validity Period
Force Majeure
Amendment Provisions
Transfer Restrictions
Notices
Compliance with Laws
Islamic Banking Compliance
Regulatory Requirements
Governing Law
Jurisdiction
Assignment
Severability
Entire Agreement
Counterparts
Stamp Duty
Bank's Standard Terms
Dispute Resolution
Confidentiality
Currency Provisions
Relevant Industries
Banking and Financial Services
Construction and Infrastructure
International Trade
Manufacturing
Real Estate Development
Energy and Utilities
Telecommunications
Government and Public Sector
Maritime and Shipping
Mining and Resources
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Trade Finance
Project Finance
Commercial Operations
Credit Control
Islamic Banking
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Project Finance Manager
Trade Finance Manager
Contract Manager
Legal Counsel
Risk Manager
Compliance Officer
Banking Relationship Manager
Project Director
Commercial Director
Islamic Banking Officer
Credit Risk Officer
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