The Assurance of Support Bank Guarantee is a crucial financial instrument in Pakistani banking practice, typically used when one party requires financial security for the performance of obligations by another party. This document is commonly utilized in various scenarios including immigration support, international trade, construction projects, and commercial transactions where financial assurance is required. The guarantee, governed by Pakistani law and regulated by the State Bank of Pakistan, provides the beneficiary with the security of a bank's promise to pay a specified amount upon demand if certain conditions are met. The document includes specific details about the guaranteed amount, validity period, conditions for calling on the guarantee, and the process for making claims. It's particularly important in situations where parties need robust financial backing for their commitments, and the bank's creditworthiness serves as additional security for the transaction.

1. Parties: Identifies the bank (guarantor), the applicant (primary obligor), and the beneficiary

2. Background: Explains the context of the guarantee, including the underlying relationship between the applicant and beneficiary

3. Definitions: Defines key terms used throughout the guarantee document

4. Guarantee Amount: Specifies the maximum amount of the guarantee and currency

5. Scope of Guarantee: Details the specific obligations being guaranteed and the nature of the bank's commitment

6. Duration and Validity: Specifies the effective date, expiry date, and any conditions affecting the guarantee's validity

7. Demand Requirements: Sets out the process and requirements for making a claim under the guarantee

8. Payment Terms: Specifies how and when payment will be made following a valid demand

9. Bank's Rights and Obligations: Details the rights, obligations, and limitations of the bank's liability

10. Governing Law and Jurisdiction: Specifies Pakistani law as governing law and determines jurisdiction for disputes

11. Notices: Provides the mechanism and addresses for formal communications between parties

12. Execution: Signature blocks and attestation requirements