Security Bank Guarantee Template for Philippines

1. Counter-Indemnity: Terms of indemnification from the Principal to the Bank, used when specific indemnity arrangements are required

2. Assignment Restrictions: Provisions restricting or permitting assignment of rights under the guarantee, included when assignment needs to be specifically addressed

3. Multiple Beneficiaries: Additional provisions for cases involving more than one beneficiary

4. Reduction Clauses: Provisions for automatic reduction of guarantee amount over time, used in construction or staged project guarantees

5. Foreign Currency Provisions: Special provisions for guarantees involving foreign currency, required when not in Philippine Peso

6. Anti-Money Laundering Compliance: Specific AML provisions, required for high-value guarantees or when dealing with specific sectors

7. Force Majeure: Provisions dealing with extraordinary events, included when requested by parties or for long-term guarantees

1. Schedule 1 - Form of Demand: Template for making a valid demand under the guarantee

2. Schedule 2 - Underlying Contract Details: Summary or extract of the main contract being guaranteed

3. Schedule 3 - Supporting Documents: List of required supporting documents for guarantee activation

4. Schedule 4 - Bank's Standard Terms and Conditions: Standard terms and conditions applicable to all bank guarantees

5. Appendix A - Authorization Documents: Corporate authorizations and powers of attorney

6. Appendix B - Specimen Signatures: Authorized signatures for all parties