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The Bank Guarantee Letter is a crucial financial instrument used in various commercial transactions where one party seeks financial security from another. Under Belgian law, these guarantees are commonly used in international trade, construction projects, tender submissions, and performance obligations. The document provides an independent, irrevocable commitment from a bank to pay a specified sum upon the beneficiary's compliant demand, subject to the terms and conditions stated in the guarantee. Bank Guarantee Letters are particularly important in cross-border transactions where Belgian banks interact with international parties, and must comply with both Belgian banking regulations and international banking practices. The document typically includes specific details about the underlying transaction, guarantee amount, validity period, and claim conditions, providing a secure and standardized method of risk mitigation in commercial dealings.

1. Letterhead and Date: Bank's official letterhead, including full legal name, address, and registration details, plus date of issuance

2. Beneficiary Details: Full name and address of the party in whose favor the guarantee is issued

3. Reference Number: Unique identification number of the guarantee

4. Guarantee Amount: The specific amount and currency of the guarantee, written in both numbers and words

5. Underlying Transaction: Reference to the primary contract or obligation that this guarantee is securing

6. Guarantee Terms: Specific conditions under which the guarantee can be called, including validity period and expiry date

7. Payment Conditions: Process and requirements for making a claim under the guarantee

8. Governing Law and Jurisdiction: Explicit statement of Belgian law as governing law and relevant jurisdiction

9. Authorized Signatures: Space for bank officials' signatures with their names and positions