The Labour Bank Guarantee is a fundamental requirement for businesses operating in the UAE that employ workers. This financial instrument is mandated by UAE Federal Labor Law and related ministerial decisions, requiring employers to provide a bank guarantee as security for their workforce. The guarantee amount is calculated based on the number of employees and must be issued by a UAE-licensed bank in favor of the Ministry of Human Resources and Emiratisation. The Labour Bank Guarantee serves multiple purposes: it ensures financial protection for workers, facilitates the issuance of work permits, and demonstrates the employer's financial capability to meet labor-related obligations. The document must be maintained throughout the period of employment and can be called upon by authorities in cases where employers fail to meet their financial obligations towards employees.
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1. Bank Details and Reference: Header section containing the issuing bank's details, guarantee reference number, and date of issuance
2. Beneficiary Details: Full details of the beneficiary (Ministry of Human Resources and Emiratisation)
3. Principal Details: Complete information about the employer (company) on whose behalf the guarantee is issued
4. Guarantee Amount: Specific amount of the guarantee in figures and words, as per current UAE labor law requirements
5. Purpose and Scope: Clear statement of the guarantee's purpose for labor-related obligations
6. Validity Period: Duration of the guarantee and any auto-renewal provisions
7. Claim Conditions: Terms under which the guarantee can be claimed by the beneficiary
8. Governing Law and Jurisdiction: Statement confirming UAE law governance and jurisdiction
9. Bank's Undertaking: Formal declaration of the bank's commitment to honor the guarantee
1. Multiple Establishment Clause: Required when the guarantee covers multiple branches or establishments of the same company
2. Electronic Submission Clause: Required when the guarantee is being submitted through electronic channels
3. Transfer Restriction Clause: Optional clause explicitly preventing transfer or assignment of the guarantee
4. Language Preference: Optional clause specifying which language version prevails if the guarantee is bilingual
5. Force Majeure Provisions: Optional clause defining force majeure events and their impact on the guarantee
1. Schedule A - Company License Details: Copy or details of the company's valid trade license
2. Schedule B - Authorized Signatories: List of authorized signatories for making claims or modifications to the guarantee
3. Appendix 1 - Employee Coverage List: If applicable, list of employees covered under the guarantee when issued for multiple workers
4. Appendix 2 - Ministry Requirements: Specific requirements or conditions set by the Ministry of Human Resources and Emiratisation
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Construction
Manufacturing
Retail
Hospitality
Healthcare
Technology
Transportation and Logistics
Real Estate
Professional Services
Education
Industrial
Trading
Oil and Gas
Telecommunications
Relevant Teams
Human Resources
Legal
Finance
Compliance
Operations
Treasury
Risk Management
Corporate Secretariat
Government Relations
Banking Relations
Relevant Roles
HR Director
Legal Counsel
Finance Manager
Compliance Officer
Operations Manager
Treasury Manager
HR Operations Manager
Legal Manager
Banking Relationship Manager
PRO (Public Relations Officer)
Chief Financial Officer
Risk Manager
Company Secretary
HR Business Partner
Banking Operations Officer
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