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A Bank Guarantee Cancellation Letter is a crucial document used when parties wish to formally terminate a bank guarantee before its stated expiry date or confirm its cancellation upon natural expiry. This document is particularly important in Malta's financial services sector and must comply with the requirements of the Banking Act (Chapter 371 of the Laws of Malta) and related financial services legislation. The letter typically includes specific references to the original guarantee, clear statements of cancellation, and confirmation of the release of all obligations. It's commonly used in situations where the underlying obligation has been fulfilled, the guarantee is no longer required, or the parties have mutually agreed to terminate the arrangement. The document serves as crucial evidence for all parties' records and may be required for regulatory compliance, audit purposes, or future business transactions.

1. Letter Header and Date: Bank's letterhead, reference numbers, and date of the cancellation letter

2. Addressee Details: Full details of the beneficiary of the original guarantee, including name, address, and any reference numbers

3. Guarantee Reference: Clear identification of the specific bank guarantee being cancelled, including guarantee number, date of issuance, and amount

4. Purpose Statement: Clear statement of the letter's purpose to cancel/terminate the bank guarantee

5. Confirmation of Cancellation: Explicit statement confirming the cancellation of the guarantee and release of all obligations

6. Effective Date: Specific date from which the cancellation takes effect

7. Return of Original Guarantee: Request for or acknowledgment of the return of the original guarantee document, if applicable

8. Authorized Signature Block: Space for bank official's signature, name, title, and bank stamp