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Original Bank Guarantee Template for United States

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Original Bank Guarantee

"I need an Original Bank Guarantee for a construction project in California, with a guarantee amount of $5 million, valid from March 1, 2025, to December 31, 2025, with quarterly reduction provisions based on project milestones."

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What is a Original Bank Guarantee?

The Original Bank Guarantee serves as a critical financial instrument in US commercial transactions, providing security and risk mitigation for various business arrangements. When a party requires financial assurance for a transaction, an Original Bank Guarantee can be issued by a bank to provide this security. The document includes specific details about the guarantee amount, validity period, terms of payment, and conditions for claims. Under US jurisdiction, these guarantees must comply with federal banking regulations, state laws, and the Uniform Commercial Code, particularly Articles 3 and 5.

What sections should be included in a Original Bank Guarantee?

1. Bank Details: Full legal name and details of the issuing bank including registration number, address, and authorized signatories

2. Guarantee Amount: Specific amount being guaranteed, expressed both in figures and words, including currency denomination

3. Beneficiary Details: Complete information of the party receiving the guarantee, including legal name, registration details, and address

4. Principal Details: Information about the party for whom the guarantee is being issued, including legal name, registration details, and address

5. Purpose of Guarantee: Clear statement of the underlying transaction or obligation being guaranteed, including reference to any primary contracts

6. Validity Period: Explicit start and end dates of the guarantee, including any automatic extension provisions

7. Terms of Payment: Detailed conditions under which the guarantee can be called upon and the process for making claims

What sections are optional to include in a Original Bank Guarantee?

1. Transferability Clause: Terms and conditions regarding whether the guarantee can be transferred to another beneficiary

2. Partial Drawings Clause: Provisions specifying whether and how partial claims against the guarantee can be made

3. Force Majeure: Provisions defining extraordinary circumstances that may affect the guarantee and corresponding procedures

4. Governing Law and Jurisdiction: Specification of applicable law and courts having jurisdiction over disputes

5. Amendment Procedures: Process and requirements for making changes to the guarantee terms

What schedules should be included in a Original Bank Guarantee?

1. Schedule A - Demand Format: Prescribed format and templates for making claims under the guarantee

2. Schedule B - Supporting Documents: Comprehensive list of required documents for claim verification and processing

3. Schedule C - Underlying Contract Summary: Brief description of the primary contract or obligation being guaranteed

4. Schedule D - Authorized Signatories: List of persons authorized to act on behalf of the bank in relation to the guarantee

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses

























Relevant Industries

Banking and Financial Services

International Trade

Construction

Real Estate

Manufacturing

Relevant Teams

Treasury

Finance

Legal

Risk Management

Trade Finance

Relevant Roles

Chief Financial Officer

Treasury Manager

Risk Manager

Trade Finance Manager

Commercial Banking Officer

Industries

Uniform Commercial Code (UCC): Primary legislation governing commercial transactions in the US, particularly Articles 3, 5, and 9 covering negotiable instruments, letters of credit, and secured transactions respectively

Federal Reserve Act: Fundamental banking legislation that established the Federal Reserve System and provides the framework for banking regulation in the United States

Bank Holding Company Act: Federal legislation regulating the actions and activities of bank holding companies and their subsidiaries

Federal Deposit Insurance Act: Legislation governing the operation of the FDIC and establishing requirements for insured banking institutions

Dodd-Frank Wall Street Reform: Comprehensive financial reform legislation enacted in response to the 2008 financial crisis, introducing new requirements for financial institutions

State Banking Laws: Individual state-specific regulations and requirements governing banking operations within state jurisdictions

URDG 758: Uniform Rules for Demand Guarantees - International banking standard for guarantee operations

Bank Secrecy Act: Key anti-money laundering law requiring financial institutions to assist government agencies in detecting and preventing money laundering

USA PATRIOT Act: Legislation expanding anti-money laundering requirements and introducing additional compliance obligations for financial institutions

OFAC Regulations: Office of Foreign Assets Control regulations governing transactions with foreign entities and ensuring compliance with US sanctions

CFPB Regulations: Consumer Financial Protection Bureau rules protecting consumers in their financial transactions with banks and other institutions

Truth in Lending Act: Federal law requiring clear disclosure of lending terms and standardizing the manner in which costs associated with borrowing are calculated

Fair Credit Reporting Act: Legislation regulating the collection, dissemination, and use of consumer credit information

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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