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Standby Letter Of Guarantee
I need a Standby Letter of Guarantee under Danish law for EUR 2.5 million to secure payment for wind turbine components, with our Danish subsidiary as applicant and German manufacturer as beneficiary, expiring March 15, 2025.
1. Issuing Bank Details: Complete identification and contact details of the issuing bank
2. Beneficiary Details: Full identification of the beneficiary including address and reference details
3. Applicant Details: Complete information about the party requesting the guarantee
4. Guarantee Reference Number: Unique identifier for the guarantee
5. Guarantee Amount: The maximum amount and currency of the guarantee
6. Underlying Transaction: Brief description of the transaction or obligation being guaranteed
7. Effective Date: Date from which the guarantee becomes effective
8. Expiry Date: Date and conditions under which the guarantee expires
9. Payment Terms: Conditions and process for making a claim under the guarantee
10. Governing Law and Jurisdiction: Specification of Danish law as governing law and relevant jurisdiction
1. Transferability Clause: Include when the guarantee needs to be transferable to another beneficiary
2. Multiple Beneficiaries: Required when there is more than one beneficiary
3. Partial Drawings: Include when multiple partial claims are to be permitted
4. Reduction Clause: Used when the guarantee amount can be reduced over time or upon certain events
5. Language Provision: Include when the guarantee might be used internationally to specify controlling language
6. Force Majeure: Optional clause defining circumstances beyond control that might affect the guarantee
7. Assignment Provisions: Include when rights under the guarantee may need to be assigned
1. Demand Form: Standard form for making a claim under the guarantee
2. Underlying Contract Reference: Details or extract of the contract or obligation being guaranteed
3. Authentication Procedures: Specified format and requirements for authenticating claims
4. Required Documents: List and samples of documents required for making a claim
5. Communication Methods: Approved methods and formats for communications regarding the guarantee
Authors
Banking & Financial Services
International Trade
Manufacturing
Construction & Infrastructure
Energy & Utilities
Shipping & Maritime
Real Estate & Property Development
Telecommunications
Oil & Gas
Renewable Energy
Mining & Resources
Retail & Consumer Goods
Legal
Finance
Treasury
Trade Finance
Risk Management
Compliance
Corporate Banking
International Business
Credit Administration
Operations
Commercial Banking
Chief Financial Officer
Treasury Manager
Trade Finance Manager
Financial Controller
Legal Counsel
Compliance Officer
Risk Manager
Corporate Banking Officer
International Trade Specialist
Credit Manager
Commercial Banking Manager
Documentary Credits Specialist
Business Development Manager
Contract Manager
Project Finance Manager
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