The International Bank Guarantee is a crucial financial instrument used in cross-border transactions where a bank provides a guarantee of payment or performance on behalf of its client (the Principal) to a third party (the Beneficiary). This document is particularly relevant in Saudi Arabia, where all banking transactions must comply with both conventional banking standards and Islamic finance principles. The guarantee can be used for various purposes including bid bonds, performance bonds, advance payment guarantees, and financial guarantees. It must adhere to the Saudi Arabian Monetary Authority (SAMA) regulations, the Banking Control Law, and relevant international banking practices. The document includes specific provisions for guarantee activation, claim procedures, and payment terms, while ensuring Shariah compliance throughout its structure.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
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 throughout the guarantee, including banking and Islamic finance terminology
4. Guarantee Amount and Currency: Specific amount of the guarantee and currency of payment
5. Scope of Guarantee: Detailed description of the obligations being guaranteed
6. Duration and Validity: Effective date, expiry date, and any auto-extension provisions
7. Conditions for Demand: Requirements and process for making a claim under the guarantee
8. Payment Terms: Timeline and method of payment upon valid demand
9. Shariah Compliance Declaration: Statement confirming compliance with Islamic banking principles
10. Governing Law and Jurisdiction: Specification of Saudi law and relevant jurisdiction
11. Notice Provisions: Communication requirements and contact details for all parties
12. Language: Specification of controlling language version
1. Counter-Guarantee Provisions: Include when there is a counter-guarantee from another bank
2. Assignment Restrictions: Include when transfer rights need to be specifically restricted
3. Force Majeure: Include for long-term guarantees or in high-risk jurisdictions
4. Arbitration Clause: Include when parties prefer alternative dispute resolution
5. Multiple Currency Provisions: Include when payments might be made in different currencies
6. Reduction Clauses: Include when guarantee amount may be reduced over time
7. Electronic Presentation: Include when electronic demands are acceptable
1. Form of Demand: Template for making a valid demand under the guarantee
2. Underlying Contract Details: Summary of the principal contract being guaranteed
3. Authentication Procedures: Specific requirements for verifying demands and communications
4. Authorized Signatories: List of persons authorized to act under the guarantee
5. Fee Schedule: Details of bank charges and fees if applicable
6. SAMA Compliance Checklist: Confirmation of compliance with Saudi banking regulations
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
International Trade
Construction and Infrastructure
Energy and Resources
Manufacturing
Government and Public Sector
Real Estate Development
Telecommunications
Defense Contracting
Transportation and Logistics
Relevant Teams
Legal
Finance
Treasury
Trade Finance
Compliance
Risk Management
Corporate Banking
Islamic Banking
International Business
Credit
Project Finance
Relevant Roles
Chief Financial Officer
Treasury Manager
Trade Finance Manager
Legal Counsel
Compliance Officer
Banking Relationship Manager
Finance Director
Risk Manager
Corporate Banking Officer
Islamic Banking Specialist
Contract Manager
Project Finance Manager
International Trade Specialist
Senior Credit Officer
Find the exact document you need
Foreign Bank Guarantee
A Shariah-compliant bank guarantee issued by a foreign bank under Saudi Arabian law, securing obligations to a Saudi beneficiary.
find out more
Bank Guarantee Confirmation Letter
A Saudi Arabian banking document confirming the validity and enforceability of a bank guarantee, issued under Saudi law and SAMA regulations.
find out more
Bank Guarantee Return Letter
A formal request document used in Saudi Arabia to obtain the return of a bank guarantee from a financial institution after fulfillment of underlying obligations.
find out more
International Bank Guarantee
Template for International Bank Guarantees under Saudi Arabian law, compliant with SAMA regulations and Shariah principles.
find out more
Cheque Guarantee Letter
A bank-issued guarantee document under Saudi Arabian law that ensures payment of specified cheque(s) to a beneficiary, subject to Saudi banking regulations and Shariah compliance.
find out more
Bank Guarantee For Purchase Of Goods
A Shariah-compliant bank guarantee under Saudi Arabian law securing payment obligations for goods purchase, providing financial security to sellers against buyer default.
find out more
Letter Of Guarantee For Loan
A Sharia-compliant bank guarantee document under Saudi Arabian law that ensures payment to a beneficiary in case of default by a principal debtor.
find out more
Commercial Standby Letter Of Credit
A Saudi Arabian banking instrument providing financial guarantee in commercial transactions, governed by SAMA regulations and international banking practices.
find out more
Guarantee Cheque Against Advance Payment
A Saudi Arabian law-governed document establishing terms for a guarantee cheque provided as security against an advance payment, including enforcement rights and banking regulations compliance.
find out more
Bank Transfer Guarantee
A Saudi Arabian banking instrument where a bank guarantees payment to a beneficiary under specified conditions, compliant with Islamic banking principles and local regulations.
find out more
Corporate Guarantee And Bank Guarantee
Template for Corporate and Bank Guarantees under Saudi Arabian law, compliant with Shariah principles and SAMA regulations.
find out more
Business Bank Guarantee
A Saudi Arabian law-governed bank guarantee document providing financial security from a bank to a beneficiary, complying with SAMA regulations and Shariah principles.
find out more
Open Bank Guarantee
A Saudi Arabian law-governed bank guarantee document establishing an unconditional payment obligation from a bank to a beneficiary, compliant with Islamic finance principles.
find out more
Bank Guarantee And Performance Guarantee
A Sharia-compliant bank and performance guarantee document under Saudi Arabian law, providing financial security and performance assurance in commercial transactions.
find out more
Personal Banker's Guarantee
A Sharia-compliant banker's guarantee document under Saudi Arabian law, representing a bank's commitment to pay a specified sum on behalf of a principal debtor.
find out more
Letter Of Credit Guarantee
A Saudi Arabian banking instrument guaranteeing payment under a Letter of Credit, compliant with local laws and Shariah principles.
find out more
Government Deposit Guarantee
A Saudi Arabian law-governed agreement establishing government guarantees for deposits in licensed financial institutions, incorporating both conventional and Islamic banking principles.
find out more
Original Bank Guarantee
A Shariah-compliant bank guarantee document under Saudi Arabian law, providing financial security through an irrevocable undertaking from a bank to pay a specified sum upon demand.
find out more
Performance Guarantee In Tender
A bank-issued guarantee document under Saudi Arabian law that secures a bidder's obligations in a tender process.
find out more
Construction Bank Guarantee
A Sharia-compliant bank guarantee document under Saudi Arabian law that secures construction project obligations through a bank's financial commitment.
find out more
Bank Guarantee Renewal Letter
A formal letter issued under Saudi Arabian law to extend the validity period of an existing bank guarantee, complying with both SAMA requirements and Shariah principles.
find out more
Down Payment Bank Guarantee
A Saudi Arabian bank guarantee securing the repayment of advance payments in commercial transactions, issued under SAMA regulations and Shariah law.
find out more
Financial Bank Guarantee
A Shariah-compliant bank guarantee document under Saudi Arabian law where a bank guarantees payment to a beneficiary upon specified conditions.
find out more
Indirect Bank Guarantee
Template for Indirect Bank Guarantee under Saudi Arabian law, compliant with SAMA regulations and Sharia principles, for use in international trade and commercial transactions.
find out more
Bank Guarantee For Deposit
A Saudi Arabian law-governed bank guarantee document where a bank guarantees payment of a deposit amount to a beneficiary, complying with SAMA regulations and Sharia principles.
find out more
Standby Letter Of Credit For Lease
A Saudi Arabian banking instrument that provides landlords with a Shariah-compliant guarantee for lease payments, ensuring financial security in case of tenant default.
find out more
Bank To Bank Guarantee
A Saudi Arabian-compliant financial instrument where one bank guarantees obligations to another bank, incorporating SAMA regulations and Shariah principles.
find out more
Bank Guarantee First Demand
A Sharia-compliant First Demand Bank Guarantee under Saudi Arabian law, providing immediate payment upon valid demand without proof of default.
find out more
Advance Bank Guarantee
A Shariah-compliant bank guarantee document under Saudi Arabian law, securing advance payments in commercial contracts through a bank's unconditional payment undertaking.
find out more
Unlimited Bank Guarantee
A Shariah-compliant unlimited bank guarantee under Saudi Arabian law, providing unconditional security for commercial obligations without monetary limit.
find out more
Standby Bank Guarantee
A Saudi law-compliant bank guarantee document representing a bank's irrevocable commitment to pay a specified sum upon demand, structured according to SAMA regulations and Sharia principles.
find out more
Financial Guarantee And Performance Guarantee
A Saudi Arabian law-governed document combining financial and performance guarantees, ensuring both monetary and operational obligations while maintaining Shariah compliance.
find out more
Bank Guarantee For Tender
A Saudi Arabia-governed bank guarantee document where a bank guarantees payment to a beneficiary if a tender participant fails to meet their tender obligations, compliant with Saudi law and Sharia principles.
find out more
Non Financial Guarantee
A Saudi Arabian law-governed guarantee agreement ensuring the non-financial obligations or performance of one party to another, structured in compliance with Sharia principles.
find out more
Digital Bank Guarantee
A digitally-issued bank guarantee under Saudi Arabian law, providing financial security through electronic channels while maintaining Shariah compliance.
find out more
Drawdown Bank Guarantee
A Sharia-compliant Drawdown Bank Guarantee template under Saudi Arabian law, establishing terms for bank guarantees and drawdown mechanisms in accordance with SAMA regulations.
find out more
Bank Guarantee Irrevocable
A Saudi Arabian law-governed irrevocable bank guarantee document providing unconditional payment undertaking from a bank to a beneficiary, compliant with SAMA regulations and Sharia principles.
find out more
Bank Guarantee Letter Of Credit
A Shariah-compliant bank guarantee letter of credit document under Saudi Arabian law, providing secure payment commitment in international trade transactions.
find out more
Trade Finance Bank Guarantee
A Sharia-compliant bank guarantee document under Saudi Arabian law that secures payment or performance obligations in international trade transactions.
find out more
Bank Assurance Letter
A Saudi Arabian bank-issued guarantee document that provides financial assurance to a beneficiary under SAMA regulations and Shariah law.
find out more
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
.png)