A Bid Security Bank Guarantee is commonly required in competitive tender processes to ensure the integrity of bids and protect tender organizers from non-serious or speculative bidders. Under English and Welsh law, these guarantees are typically issued by banks at the request of their clients who are participating in tenders. The guarantee amount usually ranges from 1% to 5% of the bid value and becomes payable if the bidder withdraws their bid during its validity period or fails to sign the contract if selected. The document includes specific details about the tender, parties involved, guarantee amount, validity period, and conditions for payment.
Your data doesn't train Genie's AI
You keep IP ownership聽of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let tiktok成人版's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Bank Details and Contact Information: Full legal name, registration details, and contact information of the issuing bank
2. Beneficiary Details: Complete identification of the party receiving the guarantee, including registration details and address
3. Reference to Bid: Specific details of the tender/bid process including tender reference number, project name, and submission date
4. Guarantee Amount: The specific amount of the guarantee in numbers and words, including currency specification
5. Validity Period: Clear statement of when the guarantee becomes effective and when it expires, including any conditions for extension
6. Demand Requirements: Detailed process for making a claim under the guarantee, including format and documentation requirements
7. Payment Terms: Timeframe and method for payment upon receipt of a valid demand
1. Governing Law Clause: Explicit statement that the guarantee is governed by the laws of England and Wales (used in international contexts)
2. Assignment Clause: Provisions regarding whether and how the guarantee rights may be transferred
3. Force Majeure: Provisions dealing with extraordinary circumstances that might affect the guarantee
4. Dispute Resolution: Specific procedures for resolving disputes related to the guarantee
1. Form of Demand: Standard template to be used when making a claim under the guarantee
2. Copy of Bid Documents: Reference documents identifying the underlying bid/tender process
3. Bank Authorization Evidence: Documentation proving the authority of the bank signatories to issue the guarantee
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Performance Bond Guarantee
An England & Wales legal document ensuring financial security for contract performance in large-scale projects.
find out more
Cheque Guarantee Letter
An England & Wales legal document addressing unauthorized financial transactions and seeking resolution and fund recovery.
find out more
Bank Guarantee Cancellation
An England & Wales legal document addressing service delays, outlining impacts and seeking resolution under the Consumer Rights Act 2015.
find out more
Bank Guarantee Business
A legally binding guarantee issued by a bank under English and Welsh law to secure business obligations between parties.
find out more
Letter To Bank For Confirmation Of Bank Guarantee
A formal request under English and Welsh law to verify the authenticity and validity of a bank guarantee.
find out more
Bank Guarantee Sblc
A bank-issued financial guarantee instrument governed by English and Welsh law, providing payment assurance upon specified conditions.
find out more
Bank Guarantee On Fd
A bank-issued guarantee secured against a fixed deposit, governed by English and Welsh law, providing payment security to beneficiaries.
find out more
Payment Sblc
A bank-issued payment guarantee instrument under English and Welsh law, providing financial security for commercial transactions.
find out more
Counter Sblc
A Counter SBLC is a bank-issued counter-guarantee instrument for an original SBLC, governed by English and Welsh law.
find out more
Sovereign Bank Guarantee
A state-backed bank guarantee instrument governed by English and Welsh law, providing payment security for major transactions.
find out more
Government Backed Bank Guarantee
A financial guarantee instrument issued by a bank with government backing, governed by English and Welsh law.
find out more
Export Working Capital Guarantee
A financial guarantee instrument under English and Welsh law that secures working capital financing for export operations.
find out more
Company Guarantee Letter With Bank Endorsement
A bank-endorsed corporate guarantee document under English and Welsh law, providing secured assurance for specified obligations.
find out more
Bank Guarantee Text
A legally binding financial instrument under English and Welsh law where a bank guarantees payment to a beneficiary upon specified conditions.
find out more
Bank Guarantee Term Deposit
An English law agreement combining a term deposit with a bank guarantee, specifying deposit terms and guarantee conditions.
find out more
Bank Guarantee Tenor
A financial instrument under English and Welsh law where a bank guarantees payment to a beneficiary for a specified period.
find out more
Bank Guarantee Property Purchase
A legally binding guarantee issued by a bank under English and Welsh law to secure property purchase payments.
find out more
Bank Guarantee Maturity
A formal document under English and Welsh law confirming the expiration and discharge of obligations under a bank guarantee.
find out more
Bank Guarantee In International Trade
A bank's independent undertaking to pay a specified sum upon demand in international trade transactions, governed by English and Welsh law.
find out more
Bank Guarantee Against Property
An English law document where a bank provides a guarantee secured against property, establishing payment obligations and security arrangements.
find out more
Bank Deposit Guarantee Amount
A legally binding agreement under English and Welsh law establishing terms for securing specified bank deposit amounts through a guarantee arrangement.
find out more
Bank Guarantee Investment
An England and Wales-governed guarantee instrument where a bank provides security for specified investment amounts or returns.
find out more
Loan Against Bank Guarantee
An English law agreement for a loan facility secured by a bank guarantee, setting out lending terms and security arrangements.
find out more
Security Bank Guarantee
A bank-issued guarantee document under English and Welsh law, providing financial security to a beneficiary against specified obligations.
find out more
Letter Of Guarantee For Loan
A legally binding document under English and Welsh law where a guarantor commits to repaying a loan if the primary borrower defaults.
find out more
Return Of Original Bank Guarantee
A formal document under English and Welsh law confirming the return of an original bank guarantee to the issuing bank and releasing the bank from its obligations.
find out more
Bank Guarantee As Collateral Security
An English law-governed bank guarantee document securing obligations through specified collateral assets.
find out more
Bank Guarantee For Home Deposit
A legal document under English and Welsh law where a bank guarantees a property deposit payment to a seller on behalf of a buyer.
find out more
Online Banking Security Guarantee
A legal agreement under English and Welsh law defining a bank's security commitments and customer protections for online banking services.
find out more
Post Bank Guarantee
A bank-issued financial guarantee under English and Welsh law, providing security for contractual obligations through an independent payment undertaking.
find out more
Guarantee Cheque Against Advance Payment
A legal instrument under English and Welsh law providing security through a guarantee cheque against advance payments in commercial transactions.
find out more
Bank Guarantee For Supply Of Goods
A financial instrument under English and Welsh law where a bank guarantees payment to a supplier for goods in case of buyer default.
find out more
Bank Deposit Government Guarantee
A legal document under English and Welsh law establishing government protection for specified bank deposits.
find out more
Discharge Of Bank Guarantee
A legal document under English and Welsh law that releases a bank from its obligations under a previously issued bank guarantee, terminating the bank's liability.
find out more
Credit Line Against Bank Guarantee
An English law agreement establishing a credit facility secured by a bank guarantee, setting out terms for facility usage and guarantee enforcement.
find out more
Bank Transfer Guarantee
A legally binding guarantee under English and Welsh law where a bank ensures secure transfer of funds between parties.
find out more
Bank Guarantee Demand Letter
A formal demand for payment under a bank guarantee, governed by English and Welsh law, made by a beneficiary against a guarantor bank.
find out more
Bank Guarantee Covering Letter
A formal transmittal document for bank guarantees under English and Welsh law, confirming the authenticity and details of the enclosed guarantee.
find out more
Guarantee Of Safe Deposit Of Money In Banks
An English law guarantee document ensuring the protection of bank deposits under UK financial regulations and FSCS protection scheme.
find out more
Corporate Guarantee And Bank Guarantee
An English law guarantee document providing financial security through either corporate or bank undertakings to fulfill specified obligations.
find out more
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 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)