The Commercial Bank Guarantee is a crucial financial instrument in German commercial practice, used to secure various business obligations and transactions. It is commonly required in scenarios such as construction projects, supply contracts, lease agreements, and international trade transactions. The document establishes the bank's independent obligation to pay a specified sum upon compliant demand, regardless of disputes in the underlying commercial relationship. Under German law, these guarantees are governed primarily by the Civil Code (BGB) and Banking Act (KWG), with specific requirements for form, content, and execution. The guarantee can be issued as either a direct guarantee or within a counter-guarantee structure for international transactions, providing flexibility while maintaining legal certainty under German jurisdiction.
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1. Parties: Identification of the Guarantor Bank, the Beneficiary, and the Principal/Applicant
2. Background: Context of the underlying transaction and purpose of the guarantee
3. Definitions: Key terms used throughout the guarantee document
4. Guarantee Amount and Currency: Specification of the maximum guaranteed sum and currency
5. Scope of Guarantee: Detailed description of the guaranteed obligations and nature of the guarantee
6. Duration and Validity: Effective date, expiry date, and any automatic extension provisions
7. Demand Requirements: Formal requirements and procedures for making a claim under the guarantee
8. Payment Terms: Timeline and conditions for payment upon valid demand
9. Reduction Provisions: Conditions and process for reduction of the guarantee amount
10. Governing Law and Jurisdiction: Specification of German law as governing law and competent courts
11. Notices: Communication requirements and contact details for all parties
1. Transfer and Assignment: Include when the guarantee needs to be transferable or assignable
2. Counter-Guarantee Provisions: Required when involving an international bank network or counter-guarantee structure
3. Language Provisions: Necessary for international transactions to specify the prevailing language version
4. Force Majeure: Include for long-term guarantees or in specific high-risk jurisdictions
5. Electronic Presentation: Include when allowing for electronic submission of demands
6. Partial Claims: Include when multiple partial demands are to be permitted
7. URDG 758 Incorporation: Optional incorporation of ICC Uniform Rules for Demand Guarantees
8. Sanctions Clause: Include for international transactions to address compliance with sanctions regulations
1. Form of Demand: Template for making a valid demand under the guarantee
2. Underlying Contract Reference: Key details or extract of the underlying commercial contract
3. Specimen Signatures: Authorized signatures for all parties involved
4. Fee Schedule: If applicable, breakdown of bank fees and charges
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Construction and Infrastructure
International Trade
Manufacturing
Real Estate
Energy and Utilities
Telecommunications
Transportation and Logistics
Retail and Wholesale
Professional Services
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Commercial Operations
Procurement
International Business
Trade Finance
Credit Management
Project Management
Corporate Banking
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Risk Manager
Trade Finance Manager
Commercial Director
Legal Counsel
Compliance Officer
Credit Manager
Banking Relationship Manager
Contract Manager
Project Manager
Procurement Manager
Company Director
Corporate Banking Officer
International Business Manager
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