Back To Back Bank Guarantee for Singapore

Back To Back Bank Guarantee Template for Singapore

A Back-to-Back Bank Guarantee under Singapore law is a specialized financial instrument where one bank issues a guarantee based on a counter-guarantee from another bank. This document, governed by Singapore's robust financial regulatory framework, establishes the terms, conditions, and obligations between the issuing bank, counter-guarantor bank, and beneficiary. It includes specific provisions for claim procedures, validity periods, and compliance with Singapore's Banking Act and MAS regulations.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Back To Back Bank Guarantee

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Back To Back Bank Guarantee?

Back To Back Bank Guarantees are essential financial instruments used in international trade and complex commercial transactions. This document type is particularly relevant when a beneficiary requires a guarantee from a local bank but the principal's relationship bank is in another jurisdiction. Under Singapore law, these guarantees must comply with strict regulatory requirements and typically include detailed provisions for risk allocation, claim procedures, and bank obligations. The document serves as a critical tool for risk mitigation in cross-border transactions while ensuring compliance with Singapore's sophisticated financial services regulatory framework.

What sections should be included in a Back To Back Bank Guarantee?

1. Parties: Details of the guarantor bank, counter-guarantor bank, and beneficiary

2. Background: Context of the guarantee arrangement and underlying transaction

3. Definitions: Key terms used throughout the guarantee document

4. Guarantee Amount: Specific amount of the guarantee and currency

5. Terms and Conditions: Core obligations and requirements of the guarantee

6. Expiry and Claims: Validity period and claim procedures

What sections are optional to include in a Back To Back Bank Guarantee?

1. Transfer Provisions: Additional provisions when guarantee needs to be transferable - used when beneficiary requires ability to transfer rights

2. Counter-Indemnity: Additional protection provisions for the guarantor bank - used when additional security is required

3. Foreign Law Compliance: Additional provisions for cross-border guarantees - used when guarantee involves multiple jurisdictions

What schedules should be included in a Back To Back Bank Guarantee?

1. Form of Demand: Standard format for making claims under the guarantee

2. Supporting Documents: List of required documents for guarantee activation

3. Fee Schedule: Details of bank charges and commission

4. Original Guarantee Terms: Copy of the primary guarantee being backed

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Singapore

Publisher

Genie AI

Document Type

Bank Guarantee

Sector

Banking

Cost

Free to use
Relevant legal definitions
Clauses
Industries

Banking Act (Cap. 19): Primary legislation governing banking operations and regulations in Singapore, crucial for bank guarantee structures and banking operations

Monetary Authority of Singapore Act (Cap. 186): Establishes regulatory framework for financial institutions and their activities, including issuance of bank guarantees

Securities and Futures Act (Cap. 289): Relevant for financial instruments and their trading, including certain aspects of bank guarantees when they are considered financial instruments

Contract Law (Cap. 43): Fundamental legislation governing contract formation, validity, and enforcement in Singapore

Unfair Contract Terms Act (Cap. 396): Regulates unfair terms in contracts and provides protection against unreasonable contract terms

MAS Guidelines on Risk Management Practices: Regulatory guidelines for risk management in financial institutions, including management of guarantee exposures

MAS Notice 637: Specifies risk-based capital adequacy requirements for banks, affecting how banks structure and manage their guarantee portfolios

MAS Notice 643: Governs transactions with related parties, relevant for back-to-back guarantees involving related entities

URDG 758: ICC Uniform Rules for Demand Guarantees, providing international standards for guarantee operations

ISP98: International Standby Practices, providing guidelines for standby letters of credit and similar instruments

AML Regulations: Anti-money laundering regulations that must be considered in bank guarantee transactions

Documentary Requirements: Specific documentation and formalities required under Singapore law for valid bank guarantees

Cross-border Transaction Regulations: Rules governing international aspects of bank guarantees, including foreign exchange controls and international banking regulations

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Guarantee Letter Payment

A legally binding payment guarantee document under Singapore law that provides financial security in commercial transactions.

find out more

Bank Loan Personal Guarantee

A Singapore law-governed agreement where a guarantor assumes responsibility for a borrower's loan obligations in case of default.

find out more

Open Bank Guarantee

A Singapore-law governed financial instrument where a bank provides an irrevocable undertaking to pay a specified sum to a beneficiary upon demand.

find out more

Commercial Bank Guarantee

A Singapore-law governed bank guarantee providing financial security in commercial transactions, issued by a bank to guarantee payment or performance to a beneficiary.

find out more

Contra Bank Guarantee

A Singapore-law governed counter-guarantee agreement between banks securing a primary bank guarantee issued to a beneficiary.

find out more

Letter Of Credit Guarantee

A bank-issued guarantee document under Singapore law that provides payment security in international trade transactions.

find out more

Government Deposit Guarantee

A Singapore law-governed guarantee instrument providing government protection for deposits in approved financial institutions.

find out more

Banker's Guarantee For Individual

A Singapore-compliant bank guarantee document where a bank guarantees payment on behalf of an individual to a beneficiary.

find out more

Assurance Of Support Bank Guarantee

A Singapore-law governed bank guarantee providing financial assurance from a bank to support obligations of a principal to a beneficiary.

find out more

Construction Bank Guarantee

A Singapore-law governed bank guarantee providing financial security for construction projects, issued by banks to protect project owners against contractor default.

find out more

Composite Bank Guarantee

A Singapore-law governed financial instrument combining guarantees from multiple banks to provide enhanced security for commercial transactions.

find out more

Bank Guarantee Renewal Letter

A formal request to extend an existing bank guarantee's validity period under Singapore banking regulations.

find out more

Bank Endorsement Guarantee

A Singapore-law governed bank guarantee instrument where a bank commits to pay a specified sum to a beneficiary upon compliant demand.

find out more

Direct Bank Guarantee

A Singapore law-governed primary obligation by a bank to pay a specified sum to a beneficiary upon demand, subject to stated terms.

find out more

Corporate Guarantee For Bank Loan

A Singapore law-governed corporate guarantee where a company guarantees repayment of another entity's bank loan obligations.

find out more

Bank Guarantee For Deposit

A Singapore-governed financial instrument where a bank guarantees payment of a specified deposit sum to a beneficiary upon demand.

find out more

Standby Letter Of Credit For Lease

A bank-issued guarantee document under Singapore law that secures a landlord against tenant default in lease obligations.

find out more

Bank Surety Letter

A Singapore-compliant bank guarantee document where a bank provides financial assurance to a beneficiary against a principal's default.

find out more

Bank Payment Guarantee Letter

A Singapore-law governed bank guarantee providing payment security from a bank to a beneficiary under specified conditions.

find out more

Bank Guarantee For Rent

A Singapore bank's unconditional undertaking to pay a landlord a specified sum as rental security in place of a cash deposit.

find out more

Bank Guarantee First Demand

A Singapore-law governed bank guarantee providing immediate payment upon first demand, without proof of default required.

find out more

Unsecured Bank Guarantee

A Singapore-law governed bank guarantee where the bank provides an unconditional undertaking to pay without requiring security from the principal obligor.

find out more

Financial Guarantee And Performance Guarantee

A Singapore law-governed guarantee document securing both financial obligations and performance requirements in commercial transactions.

find out more

Domestic Bank Guarantee

A Singapore-governed bank guarantee where a bank commits to pay a specified sum to a beneficiary upon demand within domestic jurisdiction.

find out more

Bank Guarantee For Tender

A Singapore-compliant financial instrument issued by banks to secure tender commitments, protecting the tender issuer against bid withdrawal risks.

find out more

Bank Guarantee Discharge Letter

A formal document under Singapore law that releases a bank from its obligations under a previously issued bank guarantee.

find out more

Non Financial Guarantee

A Singapore law-governed guarantee securing non-monetary performance obligations between parties.

find out more

Digital Bank Guarantee

A digitally-issued bank guarantee under Singapore law, providing security through electronic means while maintaining legal enforceability.

find out more

Bank Guarantee For Lost Bill Of Lading

A Singapore-law governed bank guarantee protecting shipping companies when delivering cargo without original bills of lading.

find out more

Bank Guarantee For Commercial Lease

A Singapore-law governed bank guarantee securing a commercial tenant's obligations to their landlord.

find out more

Guarantee Letter

A formal undertaking under Singapore law where a guarantor commits to fulfilling another party's obligations to a beneficiary.

find out more

Counter Standby Letter Of Credit

A Singapore-law governed counter-guarantee instrument issued by one bank to another, backing an existing Standby Letter of Credit.

find out more

Bank Guarantee Irrevocable

A Singapore-law governed unconditional undertaking by a bank to pay a specified sum upon demand, providing irrevocable financial security.

find out more

Standby Letter Of Credit And Bank Guarantee

A Singapore-law governed financial security instrument providing payment assurance through bank undertaking.

find out more

Bank Guarantee Letter Of Credit

A bank-issued guarantee of payment under Singapore law, providing security in international trade transactions.

find out more

Trade Finance Bank Guarantee

A bank-issued financial guarantee governed by Singapore law, providing payment security in trade transactions.

find out more

Irrevocable And Unconditional Bank Guarantee

A Singapore-law governed bank guarantee providing unconditional payment commitment upon demand.

find out more

Letter Of Credit And Standby Letter Of Credit

A Singapore-law governed financial instrument issued by banks to guarantee payment upon presentation of specified documents, commonly used in international trade.

find out more

Bank Credit Guarantee

A Singapore-governed bank guarantee document where a bank commits to fulfill specified financial obligations if a debtor defaults.

find out more

Bank Assurance Letter

A legally binding financial guarantee document issued by a Singapore-licensed bank under Singapore banking regulations.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now