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This is a specimen-only copy of a Bank Guarantee that will be used in our no-debt/no-interest financing program.
Differences from bank to bank may be seen, but the essential points found in this example should appear
(ON GUARANTOR BANK'S LETTERHEAD)
Bank Guarantee Number:
Currency: U.S. dollars
Amount: (Numeric and spelled out in U.S. Dollars)
Issuing Bank Name:
Date of Issue:
Date of Maturity:
Lender's Transaction Code:
We (bank name) hereby irrevocably, unconditionally, and without protest or notification promise to pay at sight against this bank guarantee number (guarantee number) to the order of (lender's name) at maturity the sum of (total amount of U.S. dollars, numeric and spelled out) in lawful currency of the United States of America upon surrender and presentation of this bank guarantee at the office of (full legal name of bank or bank branch and address).
Such payment shall be made without setoff and shall be free and clear of any deductions or charges, fees, or withholding of any nature now or hereafter imposed, levied, collected, withheld or assessed by the government of (country of issuing bank) or any political subdivision or authority thereof or therein.
This guarantee is transferable, assignable, divisible, and can by hypothecated by the beneficiary, and shall be governed by and construed in accordance with the laws of the country of the issuing bank.
This guarantee is subject to the Uniform Customs and Practices for Bank Credit Instruments in accordance with the latest edition of the International Chamber of Commerce (Paris, France) Publications 400/500 and all updates to same.
All charges associated with this guarantee are for the account of the borrower.
The bank guarantee expires after one (1) year and thirty international banking days on the (day) of (month) in the year (year), and after this date becomes null and void.
This guarantee is governed under English law and is free and clear of any lien and encumbrances and is of non-criminal origin.
Issuing bank name: (bank's legal name)
Issuing bank seal: (bank's official seal)
NAME AND TITLE:
NAME AND TITLE:
bank guarantees may vary slightly from bank to bank, but will provide
essentially the same value and elements contained in this above template