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A Bank Guarantee For Supply Of Goods is a crucial financial instrument in the United Arab Emirates' commercial landscape, commonly used when substantial goods supply transactions are involved. This document is typically required when a buyer needs security against potential default or non-performance by a supplier, or when a supplier needs to demonstrate their financial capability and commitment to fulfill a supply contract. The guarantee, governed by UAE banking and commercial laws, provides the beneficiary (usually the buyer) with assurance that the bank will pay a specified amount if the supplier fails to meet their contractual obligations. The document includes specific details about the underlying supply contract, parties involved, guarantee amount, validity period, and conditions for calling upon the guarantee. It's particularly important in international trade transactions and large-scale supply contracts where parties may not have established trading relationships.

1. Bank Details and Reference: Full details of the issuing bank, including branch, and unique guarantee reference number

2. Beneficiary Details: Complete name and address of the party in whose favor the guarantee is issued

3. Principal Details: Complete name and address of the party requesting the guarantee (typically the supplier)

4. Guarantee Amount: The maximum amount of the guarantee expressed in both figures and words

5. Underlying Transaction: Reference to the supply contract or purchase order, including date and brief description of goods

6. Guarantee Scope: Clear statement of what the guarantee covers (e.g., performance, quality, delivery commitments)

7. Validity Period: Explicit start and end dates of the guarantee

8. Claim Conditions: Specific conditions under which the guarantee can be called upon

9. Payment Terms: Timeline and method for payment upon valid claim

10. Governing Law: Statement that the guarantee is governed by UAE law