The Contra Bank Guarantee serves as a critical risk-mitigation tool in complex financial transactions, particularly in international trade and large-scale projects. When a bank issues a guarantee on behalf of its client, it may seek a counter-guarantee from another bank to distribute risk and ensure compliance with regulatory requirements. The document specifies the terms under which the counter-guarantor will compensate the primary guarantor if a claim is made on the original guarantee. This arrangement is particularly common in cross-border transactions where banks operate under different jurisdictional frameworks, with U.S. banking laws providing the regulatory foundation.
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1. Parties: Identification of the guarantor bank, counter-guarantor bank, and beneficiary
2. Background: Context of the guarantee and counter-guarantee arrangement
3. Definitions: Key terms used throughout the document
4. Guarantee Amount: Specific amount of the counter-guarantee
5. Terms and Conditions: Core obligations and rights of all parties
6. Claim Procedures: Process for making and handling claims
7. Expiry Date: Validity period of the counter-guarantee
1. Governing Law Choice: Specific choice of state law, used when parties are in different jurisdictions
2. Foreign Currency Provisions: Include when guarantee involves multiple currencies
3. Step-in Rights: Used when additional security measures are required
1. Form of Demand: Standard format for making claims under the guarantee
2. Supporting Documents: List of required documentation for claims
3. Fee Schedule: Breakdown of fees and charges
4. Communication Protocols: Agreed methods and formats for official communications
Relevant legal definitions
Applicable Law
Banking Day
Beneficiary
Claim
Commencement Date
Counter-Guarantee
Counter-Guarantor
Demand
Effective Date
Expiry Date
Event of Default
Fees
Force Majeure
Guarantee Amount
Guarantee Period
Guaranteed Obligations
Original Guarantee
Primary Guarantor
Principal
Relevant Currency
Security Interest
Supporting Documents
Transaction Documents
Underlying Contract
Valid Claim
Banking Day
Beneficiary
Claim
Commencement Date
Counter-Guarantee
Counter-Guarantor
Demand
Effective Date
Expiry Date
Event of Default
Fees
Force Majeure
Guarantee Amount
Guarantee Period
Guaranteed Obligations
Original Guarantee
Primary Guarantor
Principal
Relevant Currency
Security Interest
Supporting Documents
Transaction Documents
Underlying Contract
Valid Claim
Clauses
Issuance and Purpose
Guarantee Amount
Duration and Expiry
Payment Terms
Demand Procedures
Documentation Requirements
Reimbursement Obligations
Currency Provisions
Force Majeure
Assignment and Transfer
Representations and Warranties
Events of Default
Indemnification
Fees and Costs
Communications
Amendments
Governing Law
Dispute Resolution
Notices
Severability
Entire Agreement
Waiver
Counterparts
Confidentiality
Anti-Money Laundering Compliance
Guarantee Amount
Duration and Expiry
Payment Terms
Demand Procedures
Documentation Requirements
Reimbursement Obligations
Currency Provisions
Force Majeure
Assignment and Transfer
Representations and Warranties
Events of Default
Indemnification
Fees and Costs
Communications
Amendments
Governing Law
Dispute Resolution
Notices
Severability
Entire Agreement
Waiver
Counterparts
Confidentiality
Anti-Money Laundering Compliance
Relevant Industries
International Trade
Construction
Infrastructure Development
Manufacturing
Energy
Relevant Teams
Treasury
Trade Finance
Legal
Risk Management
Compliance
Relevant Roles
Trade Finance Manager
Bank Guarantee Officer
Risk Management Officer
Compliance Officer
Treasury Manager
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