legal forms and business documents

Download Instantly

legal forms and business documents


ABOUT TRUST ONLINE
   

             

 

Bank Guarantee Letter

Accounting | Board of Directors | Customer Service | Entrepreneurial | Finance | Human Resources | Information Technology (IT) | Legal | Manufacturing | Marketing | Operations | Real Estate | Sales

 

Bank Guarantee Letter

File Type: Word      Price: $9.99        

                                                                           

Summary: A Bank Guarantee letter is a written promise issued by the Bank to compensate (pay a sum of money) to the beneficiary (third party, local or foreign) in the event that the obligor (customer) fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract. This bank guarantee format letter is highly customizable and can be used in any situation requiring such a letter.

 

Full Preview Of The Document (You must have Adobe Reader installed, get it free now ) (scroll down for partial preview)

(note: hold down "ctrl" key if you have a pop-up blocker installed)

 

Sample Partial Preview

Bank Guarantee

[Date]

Re:  Letter of Guarantee

US $ [________]                

Dear Sirs:

      The [Name of Bank] (the "Bank"), with registered offices at [Address]                           through its undersigned representative, hereby confirms that it is guarantor and main paying entity for [Name of Contractor], located at [Address], up to a limit of U.S. [$            (______)], as a guarantee (“Guarantee”) to ensure full and complete performance of Contract No. [             ] (the "XYZ” Contract).

      The Bank undertakes, with due regard for the limit stipulated above, to comply within 24 (twenty-four) hours with any requests for any payment covered by the said Guarantee, if demanded by [Name of ABC Entity] (“ABC”), without complaint, withholding or debarment or filing of administrative or court actions or appeals of any kind.

      The Bank furthermore pledges itself to pay all the expenses of ABC, whether of a legal nature or not, in the event ABC is forced to go to arbitration or court to compel compliance with any commitment undertaken by [Name of Contractor] ("Party Guaranteed").

      In the event any dissolution, liquidation, bankruptcy, reorganization, receivership, assignment for the benefit of creditors, debt rearrangements or other proceeding under any bankruptcy law or proceeding or insolvency law or procedure instituted by or against the Party Guaranteed, this Guarantee at the option of ABC, immediately shall become due and payable from the Bank.

      The Bank hereby (1) agrees to any modifications of any terms or conditions of the XYZ Contract and/or to any extensions or renewals of the time for performance by the Party Guaranteed; that it shall not be necessary for ABC to proceed first against the Party Guaranteed or any other security or guarantor before proceeding against the Bank and that no release of any other guarantor, whether by operation of law or by any act of ABC, with or without notice to the Bank, shall release the Bank from its obligation hereunder; (2) waives notice of any election, acceptance, demand, protest, release, notice of protest, and (3) agrees, if this Guarantee is not honored by the Bank in accordance with its terms, to pay, in addition to all other sums of money due, all costs of collection including any and all costs of suit and ABC’s legal fees therefore.  Furthermore, the Bank's liability hereunder shall in no way be invalidated, affected or impaired by any of the following (any one or all of which may be done or omitted by ABC without notice to anyone), namely: (i) any acceptance by ABC of any security or collateral for, or other guarantors of the obligations of the Party Guaranteed; (ii) any compromise, settlement, surrender,

Home | Contact Us | search site  Search Site | FAQ | Become An Affiliate | All Documents List | Exchange Links | RSS Feeds

Testimonials | About Us | News Room | Site Map | Affiliate Login | Join Newsletter

 

Bank Guarantee In The News

 

 

 

Privacy Policy Conditions of Use

Microsoft (TM), Word (TM), Excel (TM), PowerPoint (TM), Vision (TM), Access Database (TM), and all Microsoft (TM) logos are trademarked and owned by the Microsoft Corporation. Apple (tm) and all Apple logos are trademarked and owned by Apple Corporation.

Copyright 2003-2011, DigitalWorkTools.com 

 

Free currency converter