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The Revolving Bank Guarantee agreement is essential for businesses requiring ongoing access to bank guarantees for various commercial purposes, such as project tenders, lease obligations, or performance securities. This document, governed by Australian law and banking regulations, establishes a flexible facility that allows companies to obtain multiple guarantees up to an agreed limit, with the distinctive feature that the facility amount automatically reinstates as existing guarantees expire or are released. It details the mechanism for guarantee issuance, the revolving nature of the facility, security requirements, fee structures, and compliance obligations. The agreement is particularly valuable for companies engaged in multiple projects or requiring regular guarantee facilities, as it eliminates the need to negotiate separate arrangements for each guarantee while providing a streamlined process for ongoing guarantee requirements.

1. Parties: Identification of the bank (guarantor), the applicant, and the beneficiary/beneficiaries

2. Background: Context of the guarantee facility, including the underlying commercial relationship

3. Definitions and Interpretation: Key terms, interpretation rules, and calculation conventions

4. Facility Establishment: Terms of establishing the revolving guarantee facility, including facility limit and tenure

5. Issuance of Guarantees: Process and conditions for issuing individual guarantees under the facility

6. Revolving Nature: Mechanics of how the facility revolves, reinstatement provisions, and cycling periods

7. Fees and Charges: All applicable fees, charges, and commission structures

8. Payment and Reimbursement: Terms for payments under guarantees and reimbursement obligations

9. Security and Collateral: Security arrangements, collateral requirements, and maintenance obligations

10. Representations and Warranties: Standard and specific representations and warranties from the applicant

11. Covenants: Ongoing obligations and restrictions on the applicant

12. Events of Default: Circumstances constituting default and consequences

13. Bank's Rights and Obligations: Scope of bank's duties, discretions, and protections

14. Amendments and Variations: Process for modifying guarantee terms or facility conditions

15. Governing Law and Jurisdiction: Applicable law and dispute resolution provisions