The Revolving Bank Guarantee is a sophisticated financial instrument used in commercial transactions where ongoing security is required for repeated or continuous obligations. This document type is particularly valuable in long-term commercial relationships, such as supply contracts, construction projects, or recurring service arrangements. Under Austrian jurisdiction, it combines elements of traditional bank guarantees with an automatic reinstatement mechanism, allowing the guarantee amount to be restored after each claim, subject to specified conditions. The document must comply with Austrian banking regulations and commercial law, particularly the Banking Act (BWG) and Civil Code (ABGB). It includes detailed provisions for the revolving mechanism, claim procedures, and bank's obligations, making it suitable for businesses requiring flexible, renewable security arrangements while maintaining strict regulatory compliance.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identification of the Bank (Guarantor), the Principal (party requesting the guarantee), and the Beneficiary
2. Background: Context of the guarantee, including the underlying commercial relationship between Principal and Beneficiary
3. Definitions: Key terms including 'Guarantee Amount', 'Revolving Mechanism', 'Reinstatement Conditions', 'Validity Period'
4. Guarantee Amount and Scope: Maximum guarantee amount, nature of obligations covered, and revolving mechanism details
5. Term and Validity: Duration of the guarantee, conditions for extension, and expiry provisions
6. Revolving Mechanism: Detailed explanation of how the guarantee amount reinstates, trigger events, and reinstatement conditions
7. Demand Requirements: Process and formal requirements for making a demand under the guarantee
8. Payment Terms: Timeline for payment upon demand, payment method, and currency provisions
9. Bank's Rights and Obligations: Scope of bank's obligations, examination rights, and payment conditions
10. Principal's Obligations: Counter-indemnity obligations, fee payments, and provision of information
11. Reduction and Release: Conditions for reduction of guarantee amount and release of bank's obligations
12. Governing Law and Jurisdiction: Austrian law as governing law and jurisdiction provisions
1. Multiple Beneficiaries: Required when the guarantee has more than one beneficiary, detailing their rights and relationships
2. Foreign Law Components: Needed when the underlying transaction involves foreign law elements
3. Transfer and Assignment: Include when transfer of beneficiary rights is to be permitted
4. Electronic Demands: Include when electronic submission of demands will be permitted
5. Sanctions Compliance: Required for international transactions to ensure compliance with sanctions regulations
6. Force Majeure: Optional provisions for extraordinary events affecting the guarantee operation
7. Language Provisions: Required when the guarantee may be issued in multiple languages
1. Form of Demand: Template for making a valid demand under the guarantee
2. Fee Schedule: Details of fees, charges, and payment arrangements
3. Reinstatement Notice Template: Standard form for notifying reinstatement of guarantee amount
4. Authorized Signatories: List of persons authorized to make demands or give notices
5. Underlying Contract Summary: Key details of the commercial relationship being guaranteed
6. Communication Procedures: Detailed procedures for all formal communications under the guarantee
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Construction and Infrastructure
Manufacturing
Energy and Utilities
Real Estate Development
Telecommunications
Mining and Resources
Retail and Distribution
Transport and Logistics
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Commercial Operations
Credit
Trade Finance
Corporate Banking
Business Development
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Legal Counsel
Commercial Director
Risk Manager
Trade Finance Manager
Corporate Banking Officer
Compliance Officer
Credit Risk Officer
Contract Manager
Business Development Director
Financial Controller
Find the exact document you need
Financial Guarantee
Austrian law-governed financial guarantee agreement establishing legally binding guarantee obligations and compliance with Austrian banking regulations.
Download
Advance Payment Guarantee
An Austrian law-governed financial guarantee securing advance payments in commercial transactions, ensuring refund if contractual obligations are not met.
Download
International Bank Guarantee
An Austrian law-governed bank guarantee document that provides financial security from a bank to a beneficiary in international transactions.
Download
Unconditional Irrevocable Bank Guarantee
An Austrian law-governed Unconditional Irrevocable Bank Guarantee providing absolute payment commitment from a bank to a beneficiary upon demand.
Download
Bank Deposit Government Guarantee
Austrian government guarantee agreement for bank deposits, establishing deposit protection framework under Austrian law and EU regulations.
Download
Bank Standby Letter Of Credit
An Austrian law-governed bank guarantee instrument that provides payment security upon specified conditions, combining international banking practices with Austrian legal requirements.
Download
Open Bank Guarantee
An Austrian law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon demand, subject to stated terms and conditions.
Download
Financial Bank Guarantee
An Austrian law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon compliant demand if the principal defaults on obligations.
Download
Indirect Bank Guarantee
An Austrian law-governed Indirect Bank Guarantee template establishing a chain guarantee arrangement between multiple banks and defining rights and obligations of all parties involved.
Download
Bank To Bank Guarantee
An Austrian law-governed guarantee agreement between banks, establishing terms and conditions for inter-bank guarantee obligations in compliance with Austrian and EU banking regulations.
Download
Bank Surety Letter
An Austrian law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon the principal's default on specified obligations.
Download
Bank Guarantee Transferable
An Austrian law-governed bank guarantee that allows the beneficiary to transfer their rights to receive payment to another party, commonly used in international trade and commercial transactions.
Download
Bank Guarantee First Demand
An Austrian law-governed bank guarantee providing immediate payment upon first demand, representing an independent obligation of the bank to pay a specified sum to the beneficiary.
Download
Advance Bank Guarantee
An Austrian law-governed bank guarantee securing advance payments made to a principal, protecting the beneficiary's interests through a formal banking undertaking.
Download
Unlimited Bank Guarantee
An Austrian law-governed unlimited bank guarantee establishing a bank's unconditional commitment to pay a beneficiary upon demand, without monetary limitations.
Download
Standby Bank Guarantee
An Austrian law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon demand, subject to stated conditions.
Download
Non Financial Guarantee
Austrian law-governed Non-Financial Guarantee template establishing terms for guaranteeing non-financial obligations, compliant with ABGB requirements.
Download
Guarantee Letter
An Austrian law-governed formal undertaking where a guarantor commits to fulfill specified obligations of a principal debtor to a beneficiary under defined conditions.
Download
Bank Guarantee Irrevocable
An Austrian law-governed irrevocable bank guarantee providing unconditional payment commitment from a bank to a beneficiary upon demand, subject to specified terms.
Download
Trade Finance Bank Guarantee
An Austrian law-governed bank guarantee document providing payment security in international trade transactions, incorporating local Austrian legal requirements and international banking standards.
Download
Irrevocable And Unconditional Bank Guarantee
An Austrian law-governed Irrevocable and Unconditional Bank Guarantee providing absolute payment security upon demand, structured under Austrian banking and commercial regulations.
Download
Bank Guarantee Bond
An Austrian law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon demand, subject to defined terms and conditions.
Download
Advance Payment Guarantee Bond
An Austrian law-governed financial guarantee instrument securing advance payments made to contractors/suppliers, issued by banks to protect buyers' prepayments.
Download
On Demand Bank Guarantee
An Austrian law-governed bank guarantee providing unconditional payment obligation upon demand, commonly used in commercial transactions and public tenders.
Download
Bank Endorsement Letter
An official banking document under Austrian law that provides formal endorsement or verification of specific banking relationships or financial circumstances.
Download
Advance Payment Guarantee Letter
An Austrian law-governed bank guarantee securing advance payments in commercial transactions, providing protection for upfront payments through a first-demand payment mechanism.
Download
Revolving Bank Guarantee
An Austrian law-governed bank guarantee that automatically reinstates after claims, providing ongoing security for commercial obligations up to a specified maximum amount.
Download
Retention Bank Guarantee
An Austrian law-governed bank guarantee securing retention money in lieu of cash retention, typically used in construction and large-scale projects.
Download
Conditional Bank Guarantee
An Austrian law-governed bank guarantee that requires specific conditions to be met before payment can be claimed by the beneficiary.
Download
Performance Letter Of Guarantee
An Austrian law-governed bank guarantee document ensuring compensation if a contractor fails to meet their performance obligations.
Download
Cash Backed Bank Guarantee
An Austrian law-governed bank guarantee document securing the bank's obligation to the beneficiary through a cash deposit from the applicant.
Download
Bank Counter Guarantee
An Austrian law-governed bank counter-guarantee document establishing a bank's commitment to indemnify another bank against losses from issuing a primary guarantee.
Download
Back To Back Bank Guarantee
An Austrian law-governed agreement establishing a counter-guarantee arrangement between two banks to support a primary bank guarantee issued to a beneficiary.
Download
Bank Letter Of Comfort
An Austrian-law governed Bank Letter of Comfort providing formal assurance of support or relationship maintenance between a bank and another entity, typically used in financial transactions and corporate relationships.
Download
Performance Bank Guarantee
An Austrian law-governed bank guarantee securing the performance obligations of a contractor/supplier, providing financial security to the project owner/employer.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)