Cash Backed Bank Guarantees are commonly used in commercial transactions where parties seek a secure, risk-free financial instrument. The document outlines the terms under which the bank will honor the guarantee, supported by cash collateral deposited by the applicant. This arrangement provides the beneficiary with a highly secure form of financial assurance, as the guarantee is fully backed by liquid assets. The document must comply with U.S. banking regulations, including federal reserve requirements and state-specific banking laws.
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1. Parties: Identification of the bank, applicant, and beneficiary
2. Background: Context of the guarantee and underlying transaction
3. Definitions: Key terms used throughout the guarantee
4. Guarantee Amount: Specific amount being guaranteed and currency specifications
5. Cash Coverage: Details of cash collateral arrangement including deposit requirements
6. Term: Duration and expiry of the guarantee, including any extension provisions
7. Demand Conditions: Conditions under which the guarantee can be called and claim procedures
1. Governing Law: Specific jurisdiction laws and choice of forum for dispute resolution
2. Assignment Provisions: Terms and conditions for transferring rights under the guarantee
3. Force Majeure: Provisions for circumstances beyond parties' control affecting the guarantee
1. Form of Demand: Standard template for making claims under the guarantee
2. Cash Collateral Agreement: Detailed terms of the cash backing arrangement and security interest
3. Specimen Signatures: Authorized signatories for all parties involved in the guarantee
4. Fee Schedule: Comprehensive list of banking fees and charges applicable to the guarantee
Relevant legal definitions
Guarantee
Cash Collateral
Guaranteed Amount
Guarantor
Beneficiary
Applicant
Demand
Expiry Date
Business Day
Banking Day
Effective Date
Event of Default
Guarantee Period
Security Interest
Secured Obligations
Cash Coverage Ratio
Permitted Withdrawals
Guarantee Fee
Authorized Representative
Notice
Governing Law
Force Majeure Event
Material Adverse Change
Demand Notice
Settlement Date
Underlying Transaction
Banking Hours
Issuing Branch
Collateral Account
Cash Collateral
Guaranteed Amount
Guarantor
Beneficiary
Applicant
Demand
Expiry Date
Business Day
Banking Day
Effective Date
Event of Default
Guarantee Period
Security Interest
Secured Obligations
Cash Coverage Ratio
Permitted Withdrawals
Guarantee Fee
Authorized Representative
Notice
Governing Law
Force Majeure Event
Material Adverse Change
Demand Notice
Settlement Date
Underlying Transaction
Banking Hours
Issuing Branch
Collateral Account
Clauses
Purpose and Scope
Cash Collateral Arrangements
Amount and Currency
Term and Duration
Fees and Charges
Demands and Payments
Bank's Rights and Obligations
Applicant's Representations and Warranties
Security Interest
Events of Default
Assignment and Transfer
Force Majeure
Notices
Amendments
Governing Law
Jurisdiction
Confidentiality
Indemnification
Set-off Rights
Tax Provisions
Anti-Money Laundering Compliance
Termination
Severability
Entire Agreement
Counterparts
Waiver
Further Assurance
Costs and Expenses
Language
Cash Collateral Arrangements
Amount and Currency
Term and Duration
Fees and Charges
Demands and Payments
Bank's Rights and Obligations
Applicant's Representations and Warranties
Security Interest
Events of Default
Assignment and Transfer
Force Majeure
Notices
Amendments
Governing Law
Jurisdiction
Confidentiality
Indemnification
Set-off Rights
Tax Provisions
Anti-Money Laundering Compliance
Termination
Severability
Entire Agreement
Counterparts
Waiver
Further Assurance
Costs and Expenses
Language
Relevant Industries
Banking and Financial Services
International Trade
Construction
Real Estate
Manufacturing
Relevant Teams
Treasury
Finance
Legal
Commercial
Risk Management
Relevant Roles
Chief Financial Officer
Treasury Manager
Trade Finance Manager
Risk Manager
Commercial Director
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