The Revolving Bank Guarantee agreement is essential for businesses requiring ongoing guarantee facilities from Canadian financial institutions. It is commonly used when a company needs to provide multiple guarantees to various beneficiaries over time, without having to negotiate new terms for each issuance. The facility operates under Canadian federal banking regulations and provincial contract laws, providing flexibility while maintaining regulatory compliance. This document type is particularly valuable for companies engaged in recurring contracts, tenders, or ongoing business relationships requiring regular guarantee support. The revolving nature allows for guarantees to be issued, expired, and new ones issued up to the facility limit, providing efficient access to guarantee support for business operations.
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1. Parties: Identification of the Bank (Guarantor), the Applicant, and the Beneficiary
2. Background: Context of the guarantee facility and relationship between parties
3. Definitions and Interpretation: Definitions of key terms and interpretation rules
4. Facility Details: Amount, purpose, and revolving nature of the guarantee facility
5. Conditions Precedent: Requirements to be met before the facility becomes operational
6. Issuance Mechanics: Procedures for requesting and issuing guarantees under the facility
7. Fees and Charges: Commission, fees, and other charges applicable
8. Revolving Provisions: Terms governing the revolving nature, reinstatement of facility
9. Representations and Warranties: Standard declarations by the Applicant
10. Undertakings: Ongoing obligations of the Applicant
11. Events of Default: Circumstances constituting default and consequences
12. Indemnity and Reimbursement: Applicant's obligations to indemnify and reimburse the Bank
13. Payment Provisions: Terms for payments, currency, and calculation methods
14. Communications: Methods and requirements for notices and communications
15. Assignment and Transfer: Rules regarding transfer of rights and obligations
16. Governing Law and Jurisdiction: Application of Canadian law and jurisdiction
1. Security Provisions: Required if the facility is secured by collateral
2. Multiple Beneficiary Provisions: Required when multiple beneficiaries are involved
3. Cross-Border Provisions: Required for international transactions
4. Counter-Guarantee Provisions: Required if involving correspondent banks
5. Currency Exchange Provisions: Required for multi-currency facilities
6. Anti-Money Laundering Compliance: Detailed AML provisions if required by risk assessment
7. Electronic Banking Provisions: Required if electronic platform is used for operations
8. Agent Provisions: Required if facility involves an agent bank structure
1. Schedule 1 - Form of Guarantee Request: Standard form for requesting issuance of guarantees
2. Schedule 2 - Form of Guarantee: Template guarantee format to be issued under the facility
3. Schedule 3 - Fee Schedule: Detailed breakdown of all applicable fees and charges
4. Schedule 4 - Conditions Precedent Documents: List of required documents and conditions
5. Schedule 5 - Authorized Signatories: List of persons authorized to request guarantees
6. Appendix A - Compliance Requirements: Detailed regulatory compliance requirements
7. Appendix B - Operating Procedures: Detailed procedures for facility operation
8. Appendix C - Security Documents: Forms and details of security arrangements if applicable
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Construction and Infrastructure
International Trade
Manufacturing
Energy and Resources
Real Estate Development
Telecommunications
Government and Public Sector
Retail and Consumer Goods
Transportation and Logistics
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Operations
Credit
Commercial
Corporate Banking
Trade Finance
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Corporate Banking Manager
Risk Management Officer
Compliance Officer
Legal Counsel
Credit Manager
Operations Manager
Relationship Manager
Trade Finance Manager
Security Trustee
Company Secretary
Commercial Director
Project Manager
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