The Bank Guarantee And Letter Of Credit document is essential for facilitating secure international trade and financial transactions under Indonesian jurisdiction. It serves as a crucial instrument for businesses requiring financial security in commercial transactions, particularly in import/export operations, construction projects, and major supply contracts. The document incorporates requirements from Indonesian banking laws, Bank Indonesia regulations, and international banking practices. It provides comprehensive coverage of guarantee/credit terms, conditions for calling on the guarantee, documentation requirements, and compliance obligations. This template is designed to protect all parties' interests while ensuring compliance with Indonesian banking regulations and international standards such as UCP 600 and URDG 758.
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1. Parties: Identifies all parties involved: the guarantor bank, the applicant/principal, and the beneficiary
2. Background: Explains the context of the guarantee/credit and the underlying transaction it supports
3. Definitions: Defines key terms used throughout the document
4. Scope of Guarantee/Credit: Specifies the exact nature and amount of the guarantee or credit facility
5. Terms and Conditions: Details the conditions under which the guarantee/credit can be called upon or utilized
6. Duration and Validity: Specifies the effective period of the guarantee/credit and any extension conditions
7. Payment Terms: Outlines the mechanism and conditions for payment under the guarantee/credit
8. Documentation Requirements: Lists required documents for any claim or drawing under the facility
9. Bank's Rights and Obligations: Details the rights, obligations, and limitations of the guarantor bank
10. Governing Law and Jurisdiction: Specifies Indonesian law as governing law and defines jurisdiction for disputes
11. Notices: Specifies how and where formal communications between parties should be made
12. Execution: Signature blocks and execution formalities
1. Counter-Indemnity: Required when the applicant provides indemnity to the bank against any claims
2. Assignment Provisions: Include when transfer of rights under the guarantee/credit is permitted
3. Foreign Currency Provisions: Required for guarantees/credits involving foreign currency transactions
4. Force Majeure: Optional clause detailing circumstances beyond control that affect performance
5. Anti-Money Laundering Compliance: Include for high-value or international transactions
6. Sanctions Compliance: Required for international transactions or parties from sanctioned countries
7. Electronic Presentations: Include when electronic document presentation is permitted
1. Schedule 1 - Form of Demand: Standard format for making a demand under the guarantee/credit
2. Schedule 2 - Fees and Charges: Details of all applicable banking fees and charges
3. Schedule 3 - Required Documents: Comprehensive list of required documents for presentations/claims
4. Schedule 4 - Specimen Signatures: Authorized signatures for all relevant parties
5. Appendix A - Supporting Documents: Copies of underlying commercial contracts or agreements
6. Appendix B - Bank's Standard Terms: Bank's standard terms and conditions applicable to the facility
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Manufacturing
Construction
Energy and Resources
Import/Export
Retail
Agriculture
Infrastructure
Shipping and Logistics
Real Estate Development
Telecommunications
Relevant Teams
Legal
Finance
Treasury
International Banking
Trade Finance
Risk Management
Compliance
Banking Operations
Commercial Banking
Credit Administration
Documentary Credits
Relevant Roles
Trade Finance Manager
Credit Risk Officer
Treasury Manager
International Banking Officer
Compliance Officer
Legal Counsel
Bank Relationship Manager
Chief Financial Officer
Finance Director
Import/Export Manager
Commercial Banking Manager
Documentary Credits Specialist
Banking Operations Manager
Risk Management Officer
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