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Trade Finance Bank Guarantee
1. Parties: Identification of the Guarantor (bank), the Applicant (principal), and the Beneficiary
2. Background: Context of the underlying transaction and purpose of the guarantee
3. Definitions: Key terms used in the guarantee, including specific trade finance and banking terminology
4. Guarantee Amount and Currency: Specification of the maximum guarantee amount and currency of payment
5. Scope of Guarantee: Detailed description of the guaranteed obligations and nature of the guarantee
6. Conditions for Payment: Requirements and documentation needed for calling the guarantee
7. Expiry and Release: Terms regarding the validity period and conditions for release of the guarantee
8. Payment Terms: Timeframe and process for payment upon valid demand
9. Governing Law and Jurisdiction: Specification of Danish law application and jurisdiction
10. Notices: Communication requirements and contact details for all parties
1. Reduction Clause: Include when the guarantee amount can be reduced over time based on specific conditions
2. Transfer and Assignment: Include when the guarantee rights may be transferred or assigned to other parties
3. Counter-Indemnity: Include when specific counter-indemnity arrangements exist between the bank and the applicant
4. Force Majeure: Include when specific force majeure provisions are required beyond standard terms
5. Electronic Presentation: Include when electronic submission of documents is permitted
6. Multiple Beneficiaries: Include when there are multiple beneficiaries with specific rights and arrangements
7. Language Provisions: Include when the guarantee may be issued in multiple languages or translations are required
1. Form of Demand: Template for making a compliant demand under the guarantee
2. Underlying Contract Details: Summary or extract of the relevant commercial contract details
3. Authorized Signatories: List of persons authorized to make demands or give instructions
4. Fee Schedule: Details of bank fees and charges related to the guarantee
5. Supporting Documents: List and copies of required supporting documents for the guarantee
6. Communication Details: Detailed contact information and communication protocols for all parties
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