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Bank Guarantee For Lost Bill Of Lading
"I need a Bank Guarantee For Lost Bill Of Lading for a pharmaceutical shipment arriving in Singapore on March 15, 2025, with a guarantee amount of SGD 500,000 and validity period of 12 months from discharge date, where DBS Bank is the guarantor and Maersk Line is the beneficiary."
1. Parties: Identifies the bank (guarantor), shipping company, and beneficiary
2. Background: Explains circumstances of lost bill of lading and need for guarantee
3. Definitions: Defines key terms used in the guarantee including 'Bill of Lading', 'Vessel', 'Cargo', and 'Guarantee Period'
4. Guarantee Amount: Specifies the monetary value of the guarantee and conditions for payment
5. Duration: Specifies the validity period of the guarantee and any extension conditions
6. Indemnity Provisions: Details the bank's commitment to indemnify against claims arising from the lost bill of lading
7. Claims Procedure: Sets out the process and requirements for making claims under the guarantee
8. Termination: Conditions under which the guarantee may be terminated or released
1. Counter-Indemnity: Customer's obligation to indemnify the bank, used when required by bank's internal policy
2. Governing Law and Jurisdiction: Choice of law and courts for dispute resolution, particularly important for international transactions
3. Assignment Clause: Provisions regarding the right to assign the guarantee, included when assignment might be needed
4. Force Majeure: Provisions for unforeseen circumstances affecting the guarantee's performance
1. Schedule 1 - Details of Lost Bill of Lading: Complete details of the lost bill of lading including number, date, and parties involved
2. Schedule 2 - Vessel and Cargo Details: Specifications of the vessel and cargo including vessel name, voyage number, and cargo description
3. Schedule 3 - Form of Demand: Standard template for making claims under the guarantee
4. Schedule 4 - Required Documentation: List of documents required to be submitted with any claim under the guarantee
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