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1. Bank Details and Reference: The issuing bank's details, guarantee reference number, and date of issuance
2. Beneficiary Details: Full details of the entity to whom the guarantee is issued (typically the tender issuer)
3. Principal Details: Full details of the party on whose behalf the guarantee is issued (the tenderer)
4. Tender Reference: Details of the specific tender for which the guarantee is issued, including tender number and description
5. Guarantee Amount: The maximum amount for which the bank guarantees payment, expressed in numbers and words
6. Guarantee Undertaking: The bank's unconditional undertaking to pay the beneficiary upon receipt of a compliant demand
7. Conditions for Payment: Specific conditions that must be met for the guarantee to be called upon
8. Expiry Terms: The validity period of the guarantee and conditions for expiry
9. Claim Procedure: The process and requirements for making a valid claim under the guarantee
10. Reduction Clause: Terms regarding any potential reduction in the guarantee amount over time
11. Governing Law and Jurisdiction: Specification of South African law as governing law and jurisdiction for disputes
1. Transfer and Assignment: Section specifying whether the guarantee can be transferred or assigned to another party. Include when the tender allows for potential assignment of rights.
2. Multiple Claims Provision: Section detailing whether multiple claims are permitted and how they would be handled. Include for large or complex tenders.
3. Language Declaration: Section specifying the prevailing language when the guarantee is issued in multiple languages. Include when the guarantee might be used internationally.
4. Force Majeure: Section addressing extraordinary circumstances that might affect the guarantee's operation. Include for long-term or high-value guarantees.
5. Counter-Guarantee References: Section referencing any counter-guarantees when the guarantee is issued through multiple banks. Include in international tenders.
6. Electronic Presentation: Section specifying terms for electronic presentation of documents and claims. Include when electronic submissions are accepted.
1. Appendix A - Demand Format: Standard format for making a demand under the guarantee
2. Appendix B - Tender Details: Detailed description of the tender requirements and specifications
3. Appendix C - Authentication Procedure: Procedures for verifying the authenticity of demands and communications
4. Schedule 1 - Authorized Signatories: List of persons authorized to make demands under the guarantee
5. Schedule 2 - Supporting Documents: List of required supporting documents for making a valid claim
Beneficiary
Principal
Tender
Tender Documents
Expiry Date
Demand
Business Day
Compliant Demand
Effective Date
Guarantee Period
Governing Law
Jurisdiction
Valid Claim
Performance
Bank
Counter-Guarantee
Supporting Documents
Authorized Representative
Payment Currency
Force Majeure Event
Material Breach
Tender Conditions
Tender Security
Validity Period
Original Guarantee
Bank Business Hours
Place of Presentation
Contract Award
Tender Submission Date
Electronic Presentation
Authentication Procedure
Reduction Amount
Assignment Rights
Tender Reference Number
Definitions and Interpretation
Guarantee Amount
Duration and Validity
Bank's Undertaking
Demand Requirements
Payment Terms
Reduction Provisions
Expiry Conditions
Assignment and Transfer
Governing Law and Jurisdiction
Force Majeure
Notices
Amendment and Variation
Severability
Entire Agreement
Waiver
Compliance with Laws
Authentication Procedures
Claim Procedures
Multiple Claims
Electronic Communications
Counterparts
Language
Data Protection
Anti-Money Laundering
Bank's Rights and Obligations
Beneficiary's Rights and Obligations
Principal's Obligations
Termination Events
Banking and Financial Services
Construction and Infrastructure
Government and Public Sector
Mining and Resources
Energy and Utilities
Transportation and Logistics
Manufacturing
Telecommunications
Healthcare
Education
Legal
Procurement
Finance
Treasury
Risk Management
Commercial
Compliance
Corporate Banking
Project Management
Bid Management
Procurement Manager
Tender Specialist
Bank Guarantee Manager
Corporate Banking Officer
Legal Counsel
Contract Manager
Financial Director
Treasury Manager
Risk Manager
Bid Manager
Commercial Director
Project Manager
Compliance Officer
Chief Financial Officer
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