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Bank Guarantee Letter
"I need a Bank Guarantee Letter under Singapore law for a construction project tender, with a guarantee amount of SGD 5 million, to be valid from 1 March 2025 to 31 December 2025, with ABC Bank as issuer and XYZ Construction Ltd as beneficiary."
1. Bank Details: Full legal name, registration number, and registered address of the issuing bank
2. Beneficiary Details: Full name, registration details and address of the party receiving the guarantee
3. Principal Details: Full name, registration details and address of the party requesting the guarantee
4. Guarantee Amount: Specific amount and currency of the guarantee, written in both numbers and words
5. Purpose of Guarantee: Clear statement of the underlying transaction or obligation being guaranteed
6. Validity Period: Effective date and expiry date of the guarantee, including conditions for extension if any
7. Demand Requirements: Specific conditions and process for making a claim under the guarantee
1. Automatic Extension Clause: Optional clause used when guarantee period might need extension, typically for project-related guarantees with uncertain completion dates
2. Partial Claims Clause: Optional provision allowing for multiple partial claims up to the guarantee amount, used in complex commercial transactions
3. Counter-Guarantee Reference: Optional section referencing any counter-guarantee arrangements when involving multiple banks or jurisdictions
4. Digital Execution Provisions: Optional section specifying terms for digital signature and electronic execution when relevant
1. Form of Demand: Standard template for making claims under the guarantee
2. Supporting Documents List: Comprehensive list of required documents for claim verification
3. Underlying Contract Reference: Key details and reference information of the contract being guaranteed
4. Authorized Signatories: List of authorized signatories and specimen signatures where required
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