The Payment Guarantee Letter To Supplier is a crucial financial instrument in Qatar's commercial landscape, commonly used when a supplier requires payment security before proceeding with a significant commercial transaction. This document, governed by Qatar law including the Civil Code (Law No. 22 of 2004) and Qatar Central Bank regulations, provides an independent undertaking from a bank to pay the supplier if the buyer fails to do so. It typically includes details of the maximum guaranteed amount, validity period, conditions for payment, and the underlying commercial transaction. The guarantee serves as a risk mitigation tool, particularly valuable in international trade where parties may not have established business relationships. It enables suppliers to confidently proceed with large orders or continuing supply arrangements while protecting their payment interests.
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1. Letterhead and Date: Bank/Guarantor's official letterhead and date of issuance
2. Reference Number: Unique guarantee reference number for tracking and identification
3. Beneficiary Details: Full name and address of the supplier (beneficiary)
4. Applicant Details: Full name and address of the party requesting the guarantee (principal debtor)
5. Guarantee Amount: The maximum amount guaranteed, expressed in both figures and words
6. Underlying Transaction: Reference to the commercial contract or transaction being guaranteed
7. Validity Period: Clear statement of when the guarantee becomes effective and its expiry date
8. Payment Terms: Conditions under which the guarantee can be called and payment procedure
9. Governing Law: Statement that the guarantee is governed by Qatar law
10. Authentication: Authorized signatures, stamps, and authentication details
1. Partial Drawings Clause: Include when multiple partial drawings are to be permitted under the guarantee
2. Assignment Clause: Include when the beneficiary needs the right to assign the guarantee
3. Force Majeure Provisions: Include when specific force majeure protections are required
4. Dispute Resolution: Include when specific dispute resolution mechanisms need to be defined
5. Language Preference: Include when the guarantee needs to be in multiple languages
6. Reduction Clause: Include when the guarantee amount should reduce over time or based on specific events
1. Schedule 1 - Form of Demand: Standard format for making a demand under the guarantee
2. Schedule 2 - Commercial Contract Details: Key details of the underlying commercial contract being guaranteed
3. Schedule 3 - Payment Schedule: If applicable, schedule of guaranteed payments or reduction schedule
4. Appendix A - Required Documents: List of documents required to be presented with any demand under the guarantee
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Relevant Teams
Finance
Treasury
Procurement
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Risk Management
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Credit Control
Relevant Roles
Chief Financial Officer
Finance Director
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Procurement Manager
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Commercial Director
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Legal Counsel
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Banking Relationship Manager
Financial Controller
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