The Bank Endorsement Guarantee is a crucial financial instrument in Malaysian business transactions, particularly used in scenarios where financial security or performance assurance is required. This document is commonly utilized in commercial contracts, tender submissions, project developments, and international trade transactions. The guarantee provides the beneficiary with security backed by a bank's creditworthiness, while the principal maintains their business obligations. Under Malaysian law, these guarantees must comply with the Financial Services Act 2013 and related banking regulations, including Islamic banking principles where applicable. The document typically specifies the guarantee amount, validity period, conditions for calling on the guarantee, and the bank's obligations. It's particularly important in sectors requiring significant financial commitments or where counterparty risk needs to be mitigated.
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1. Parties: Identification of the bank (guarantor), the principal (party requesting the guarantee), and the beneficiary
2. Background: Context of the guarantee, including the underlying transaction or obligation being guaranteed
3. Definitions: Key terms used in the guarantee, including financial and technical terms
4. Guarantee Amount: Specific amount of the guarantee and currency
5. Scope of Guarantee: Detailed description of what is being guaranteed and the extent of the bank's liability
6. Duration and Validity: Term of the guarantee, including commencement and expiry dates
7. Conditions for Payment: Circumstances under which the guarantee can be called upon and payment procedures
8. Bank's Rights and Obligations: Specific rights and duties of the bank under the guarantee
9. Governing Law and Jurisdiction: Specification of Malaysian law as governing law and jurisdiction for disputes
1. Islamic Banking Compliance: Required when the guarantee needs to be Shariah-compliant, including relevant Islamic banking principles and structures
2. Counter-Indemnity: Optional section when the principal provides additional indemnity to the bank
3. Assignment Provisions: Required when the guarantee needs to be transferable or assignable
4. Multiple Currency Provisions: Needed when the guarantee involves multiple currencies or currency conversion
5. Step-In Rights: Optional provisions allowing the bank to step into the principal's position in certain circumstances
6. Force Majeure: Optional provisions dealing with extraordinary events that might affect the guarantee
1. Form of Demand: Template for making a demand under the guarantee
2. Fee Schedule: Details of bank fees, charges, and commission rates
3. Underlying Contract Details: Summary or extract of the main contract being guaranteed
4. Supporting Documents: List of required supporting documents for guarantee activation
5. Authorized Signatories: List of persons authorized to make demands under the guarantee
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Construction and Infrastructure
International Trade
Manufacturing
Real Estate Development
Energy and Utilities
Telecommunications
Government and Public Sector
Mining and Resources
Maritime and Shipping
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Corporate Banking
Trade Finance
Project Finance
Credit Risk
Operations
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Legal Counsel
Contract Manager
Risk Manager
Compliance Officer
Banking Relationship Manager
Project Finance Manager
Trade Finance Manager
Corporate Banking Officer
Credit Risk Officer
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