The Corporate Performance Guarantee is essential in commercial transactions where additional security is required for significant contractual obligations. It is commonly used in Belgian business practice when a stronger entity (typically a parent company) needs to support the obligations of a subsidiary or related entity. The document details the scope of guaranteed obligations, enforcement mechanisms, and limitations under Belgian law. It includes specific provisions required by Belgian civil and commercial law, ensuring compliance with local corporate benefit requirements and financial assistance restrictions. This guarantee type is particularly relevant in project finance, construction contracts, supply agreements, and other commercial arrangements where performance certainty is crucial. The document must comply with Belgian Civil Code provisions on guarantees (suretyship) and the Companies and Associations Code requirements regarding corporate authority and capacity.
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1. Parties: Identification of the Guarantor, Beneficiary, and Principal Debtor
2. Background: Context of the guarantee, reference to underlying obligations, and purpose of the guarantee
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Guarantee and Indemnity: Core guarantee obligations, scope of the guarantee, and indemnification provisions
5. Nature of Guarantee: Characteristics of the guarantee (independent, unconditional, irrevocable) and preservation of guarantee
6. Corporate Authority and Capacity: Guarantor's authority, capacity, and corporate benefit confirmation
7. Representations and Warranties: Guarantor's representations regarding its status, authority, and financial condition
8. Payment Mechanics: Procedures for demand, payment timing, and currency provisions
9. Tax Gross-up and Indemnities: Provisions for tax-related payments and indemnifications
10. Costs and Expenses: Allocation of costs related to preparation and enforcement
11. Discharge and Release: Conditions for discharge of guarantee obligations and release of guarantor
12. Notices: Communication procedures and contact details
13. Governing Law and Jurisdiction: Belgian law as governing law and jurisdiction provisions
1. Multiple Guarantors: Additional provisions for multiple guarantors, including joint and several liability - include when there is more than one guarantor
2. Performance Metrics: Specific performance criteria and measurement methods - include when guarantee is linked to specific performance targets
3. Security Interest: Provisions regarding additional security - include when guarantee is secured by specific assets
4. Currency Conversion: Detailed currency conversion provisions - include for cross-border guarantees with multiple currencies
5. Step-In Rights: Rights of beneficiary to step in and perform obligations - include for operational performance guarantees
6. Guarantee Limitations: Specific financial or temporal limitations on the guarantee - include when guarantee is subject to caps or time limits
7. Change of Control: Provisions dealing with change in control of guarantor - include for long-term guarantees
1. Form of Demand: Template for making demands under the guarantee
2. Underlying Obligations: Details of the obligations being guaranteed
3. Corporate Authorizations: Copies of relevant corporate approvals and authorizations
4. Contact Details: Detailed contact information for all parties
5. Performance Criteria: Detailed metrics and measurement methods for performance-based guarantees
6. Guarantee Limitations Schedule: Specific details of any caps, thresholds, or other limitations
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