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LETTER OF INTENT TO GUARANTEE
This is a specimen-only copy of Letter of Intent to Guarantee that would be used in our Purchase or Purchase/Buyback funding programs
(On Guarantor Bank's Letterhead)
Letter of Intent to Guarantee
We (Name of the Guarantor Bank) wish to express our willingness and intent to issue and deliver for you as our Client, (Client/borrower's full name), an irrevocable and unconditional Guarantee evidenced by (Type of instrument, e.g., Letter of Credit, Promissory Note, Letter of Guarantee, etc.) which will be used as a guarantee for the repayment of loan principal and all due interest in the amount of (Total amount requested, in numbers and words) for (full name of client/borrower) upon receipt of a confirmation of the availability of loan funds through a major world bank.
Our guarantee will include the principal amount to be (principal in numbers and words) which has been calculated for a floating rate of interest beginning at (percent, in numbers % and words).
It is understood that the Guarantee will be issued upon receipt of a tested telex or other acceptable communication from a Prime Bank confirming the availability of funds against delivery of the relevant loan aforementioned Guarantee.