Bank Guarantor Letter Template for Philippines

1. Counter Guarantee Reference: Required when the guarantee is issued based on a counter-guarantee from another bank

2. Claim Period Extension Clause: Optional clause specifying conditions under which the guarantee period can be extended

3. Reduction Clause: Include when the guarantee amount can be progressively reduced based on certain milestones or conditions

4. Force Majeure Clause: Optional clause defining circumstances under which the bank's obligations might be affected by events beyond its control

5. Assignment Restriction: Include when transfer or assignment of the guarantee rights needs to be restricted

6. Dispute Resolution: Optional detailed dispute resolution procedure, particularly for high-value guarantees

1. Appendix A - Claim Format: Standard format for submitting claims under the guarantee

2. Appendix B - Supporting Documents: List of required documents to be submitted with any claim

3. Appendix C - Authentication Procedure: Details of how beneficiary can verify the authenticity of the guarantee

4. Schedule 1 - Payment Schedule: If applicable, schedule of guaranteed payments or performance milestones