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Bank Transfer Guarantee
"I need a Bank Transfer Guarantee document for a construction project in Riyadh, where my bank will guarantee payment of SAR 5 million to the contractor, valid from March 1, 2025, to December 31, 2025, with specific trigger conditions for payment based on project milestones."
1. Parties: Identification of the bank (guarantor), the applicant (primary obligor), and the beneficiary
2. Background: Context of the guarantee, including the underlying transaction or obligation being guaranteed
3. Definitions: Key terms used throughout the guarantee document
4. Guarantee Amount: Specific amount of the guarantee and currency
5. Scope of Guarantee: Detailed description of what is being guaranteed and the extent of the bank's obligation
6. Duration and Validity: Term of the guarantee, including start date and expiry conditions
7. Conditions for Payment: Circumstances and procedures under which the guarantee can be called upon
8. Payment Mechanism: Process and timeframe for honoring the guarantee when called
9. Bank's Rights and Obligations: Specific duties and rights of the guarantor bank
10. Compliance Statement: Declaration of compliance with Sharia principles and Saudi banking regulations
11. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdictional matters
12. Notices: Communication procedures between parties
13. Execution: Signature blocks and execution requirements
1. Counter-Guarantee Provisions: Required when there is a counter-guarantee from another bank or institution
2. Assignment Restrictions: Include when transfer of rights needs to be specifically restricted or permitted
3. Force Majeure: Include when specific force majeure provisions are required beyond standard provisions
4. Language Precedence: Required when the guarantee is issued in multiple languages
5. Anti-Money Laundering Provisions: Include when enhanced AML provisions are required
6. Electronic Execution: Include when digital signature and electronic documentation is permitted
7. Dispute Resolution: Include when specific dispute resolution mechanisms beyond court jurisdiction are required
1. Schedule 1 - Form of Demand: Template for making a claim under the guarantee
2. Schedule 2 - Supporting Documents: List of required documents to be submitted with guarantee claim
3. Schedule 3 - Fee Schedule: Details of bank charges and fees associated with the guarantee
4. Schedule 4 - Communication Details: Contact information and authorized representatives of all parties
5. Appendix A - Underlying Agreement Reference: Details of the primary agreement or obligation being guaranteed
6. Appendix B - Compliance Certificates: Required regulatory and Sharia compliance certificates
Authors
Applicable Law
Applicant
Banking Day
Beneficiary
Call Notice
Claim
Compliance Certificate
Counter-Guarantee
Demand
Effective Date
Event of Default
Expiry Date
Force Majeure Event
Guarantee Amount
Guarantee Period
Guarantor
Guarantor Bank
Islamic Banking Principles
Notice
Parties
Payment Obligation
Permitted Transfer
Regulatory Authority
SAMA
SAMA Regulations
Sharia Principles
Supporting Documents
Transaction Documents
Transfer Request
Underlying Agreement
Working Day
Payment Terms
Demand Requirements
Duration and Expiry
Force Majeure
Assignment
Representations and Warranties
Compliance
Islamic Banking Compliance
Regulatory Requirements
Default Events
Enforcement
Notices
Jurisdiction
Dispute Resolution
Governing Law
Amendments
Severability
Entire Agreement
Counterparts
Confidentiality
Anti-Money Laundering
Language
Costs and Expenses
Indemnification
Termination
Transfer Rights
Security Interest
Bank's Rights
Claims Process
Banking and Financial Services
Construction
International Trade
Real Estate
Manufacturing
Energy and Utilities
Government and Public Sector
Infrastructure Development
Telecommunications
Retail and Commercial
Oil and Gas
Defense and Security
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Banking
Trade Finance
Operations
Islamic Banking
Commercial
Credit Control
Document Control
Chief Financial Officer
Treasury Manager
Financial Controller
Trade Finance Manager
Legal Counsel
Compliance Officer
Risk Manager
Banking Relationship Manager
Corporate Finance Director
Commercial Director
Project Manager
Contract Administrator
Credit Manager
Islamic Banking Specialist
Senior Finance Executive
Banking Operations Manager
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