The Bank Guarantee First Demand is a crucial financial instrument in Belgian commercial practice, commonly used to secure performance obligations, tender participation, advance payments, or warranty obligations. This type of guarantee, governed by Belgian law and banking regulations, creates an independent obligation by the bank to pay upon first demand, distinct from the underlying commercial contract. It provides beneficiaries with a swift and reliable security mechanism, as the bank must honor valid demands without investigating the merits of the claim. The document typically includes specific provisions on demand requirements, payment procedures, expiry conditions, and enforcement mechanisms, all aligned with Belgian legal requirements and international banking practices. This guarantee type is particularly valued in cross-border transactions where Belgian entities are involved, offering a balance between international standards and local legal requirements.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
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 in the guarantee, including 'Demand', 'Guaranteed Amount', 'Expiry Date'
4. Guarantee: Core guarantee obligation and amount
5. Payment Terms: Conditions and process for making a demand and receiving payment
6. Form of Demand: Specific requirements for making a valid demand under the guarantee
7. Bank's Rights and Obligations: Scope of bank's commitment and payment obligations
8. Reduction and Release: Circumstances under which the guarantee amount may be reduced or released
9. Expiry: Terms regarding the expiry of the guarantee and any automatic extension provisions
10. Communications: Methods and requirements for valid notifications between parties
11. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction for disputes
1. Transfer and Assignment: Include when the guarantee needs to be transferable or when assignment rights need to be specifically restricted
2. Counter-Guarantee Provisions: Required when the guarantee is issued under a counter-guarantee structure
3. Electronic Presentation: Include when demands can be made electronically
4. Force Majeure: Optional section addressing force majeure events affecting the guarantee
5. Sanctions Clause: Include when there are specific sanctions compliance requirements
6. Language: Include when the guarantee may be issued in multiple languages to specify which version prevails
7. Tax Provisions: Include when specific tax implications need to be addressed
1. Form of Demand: Template for making a valid demand under the guarantee
2. Form of Reduction Certificate: Template for documenting agreed reductions in the guarantee amount
3. Form of Release Letter: Template for the formal release of the guarantee
4. Underlying Contract Details: Summary of key details from the underlying contract being guaranteed (if required)
Find the exact document you need
Bank Guarantee Return Letter
A formal request document under Belgian law for the return of a bank guarantee following the completion of underlying obligations.
Download
Bank Guarantee For Deposit
A Belgian law bank guarantee document where a bank guarantees payment of a deposit sum to a beneficiary, commonly used in commercial leases and service contracts.
Download
Bank Guarantee First Demand
A Belgian law-governed bank guarantee providing for unconditional payment upon first demand, offering strong security through an independent payment obligation.
Download
Digital Bank Guarantee
A digitally issued and executed bank guarantee under Belgian law, providing financial security through authenticated electronic means.
Download
Bank Guarantee Letter Of Credit
A Belgian law-governed bank undertaking to pay a beneficiary upon presentation of compliant documents, providing security in international trade transactions.
Download
Letter Of Credit And Standby Letter Of Credit
A Belgian law-governed bank payment undertaking in the form of a Letter of Credit or Standby Letter of Credit, providing secure payment mechanisms in international trade transactions.
Download
Bank Guarantee Cancellation Letter
A formal document under Belgian law requesting the cancellation of a bank guarantee, containing specific details about the original guarantee and cancellation instructions.
Download
Revolving Bank Guarantee
Belgian law-governed revolving bank guarantee establishing an automatically reinstating financial security facility with defined trigger events and reinstatement mechanisms.
Download
Bank Guarantee Performance Bond
A Belgian law-governed bank guarantee securing performance obligations, providing financial security through an independent bank undertaking to pay upon demand if contractual obligations are not met.
Download
Standby Letter Of Credit
A Belgian law-governed financial instrument issued by a bank providing payment guarantee upon presentation of compliant documents, structured under Belgian banking regulations and international practices.
Download
Cash Backed Bank Guarantee
A Belgian law-governed bank guarantee document where the bank's obligations are secured by cash collateral from the applicant, providing financial security to the beneficiary.
Download
Irrevocable Letter Of Guarantee
A Belgian law-governed banking instrument providing an unconditional and irrevocable payment commitment to a beneficiary, subject to Belgian legal and regulatory requirements.
Download
Bank Guarantee Letter
A Belgian law-governed bank guarantee document providing financial security from a bank to a beneficiary on behalf of an applicant.
Download
Performance Bank Guarantee
A Belgian law-governed bank guarantee document ensuring financial security for performance obligations, issued by a bank to protect a beneficiary against a principal's non-performance.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it