The Corporate Guarantee And Bank Guarantee document is essential for businesses and financial institutions operating in Saudi Arabia where financial security is required for commercial transactions, project financing, or contractual obligations. This document type is commonly used in situations where a third party (either a corporation or a bank) provides financial backing for another entity's obligations. The guarantee must comply with both Islamic Shariah principles and Saudi Arabian banking regulations, particularly those issued by SAMA. The document includes specific provisions for execution, enforcement, and dispute resolution under Saudi law, while ensuring that all financial arrangements are structured in a Shariah-compliant manner. It's particularly crucial in major commercial transactions, government contracts, and infrastructure projects where substantial financial assurances are required.
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1. Parties: Identification of the Guarantor, Principal Debtor, and Beneficiary with full legal names and details
2. Background: Context of the guarantee, relationship between parties, and underlying transaction being guaranteed
3. Definitions: Key terms used throughout the guarantee, including Guaranteed Obligations, Security, and Enforcement Events
4. Guarantee and Indemnity: Core guarantee provisions, including scope, limitations, and Shariah-compliant indemnity structure
5. Representations and Warranties: Guarantor's confirmations regarding capacity, authority, and Shariah compliance
6. Payment Provisions: Terms for making payments under the guarantee, including currency, method, and timing
7. Demand Requirements: Process and formalities for making a valid demand under the guarantee
8. Duration and Release: Term of the guarantee and conditions for its termination or release
9. Assignment and Transfer: Restrictions on transfer of rights under the guarantee
10. Notices: Communication procedures between parties
11. Governing Law and Jurisdiction: Confirmation of Saudi law application and jurisdiction of Saudi courts
12. Execution: Signature blocks and attestation requirements
1. Multiple Guarantors: Additional provisions for joint and several liability when more than one guarantor is involved
2. Counter-Indemnity: Terms for reimbursement from the principal debtor to the guarantor
3. Security Provisions: Additional security or collateral supporting the guarantee
4. Foreign Currency Provisions: Special provisions for guarantees involving non-Saudi Riyal payments
5. Step-In Rights: Rights of guarantor to take over underlying obligations in specific circumstances
6. Tax Provisions: Allocation of tax liabilities and withholding requirements
7. Compliance with SAMA Regulations: Specific provisions required for bank guarantees under current SAMA regulations
8. Force Majeure: Provisions for extraordinary events affecting guarantee obligations
1. Form of Demand: Template for making valid demands under the guarantee
2. Guaranteed Obligations: Detailed description of the obligations being guaranteed
3. Corporate Authorizations: Copies of relevant board resolutions and powers of attorney
4. Specimen Signatures: Authorized signatures for making and accepting demands
5. Security Documents: List and copies of related security documents
6. Conditions Precedent: List of documents and conditions required before guarantee becomes effective
7. Fee Schedule: Details of any fees payable (structured in a Shariah-compliant manner)
8. SAMA Compliance Checklist: Checklist ensuring compliance with current SAMA regulations
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Construction & Infrastructure
Energy & Utilities
Real Estate Development
Manufacturing
Trading & Commerce
Government & Public Sector
Telecommunications
Healthcare
Education
Mining & Resources
Transportation & Logistics
Relevant Teams
Legal
Finance
Treasury
Compliance
Risk Management
Corporate Secretariat
Islamic Banking
Credit
Commercial
Project Finance
Corporate Governance
Relevant Roles
Chief Financial Officer
Legal Counsel
Corporate Secretary
Finance Director
Compliance Officer
Risk Manager
Treasury Manager
Banking Relationship Manager
Project Finance Manager
Contract Manager
Chief Legal Officer
Islamic Finance Specialist
Company Director
Commercial Director
Credit Risk Officer
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