The Bank Counter Guarantee is a crucial financial instrument in South African commercial transactions, particularly used in construction, infrastructure projects, and international trade. It provides security to beneficiaries while ensuring the issuing bank's interests are protected through counter-indemnity arrangements. The document is structured to comply with South African banking regulations and commercial law, including the Banks Act 94 of 1990 and related financial legislation. Typically used when a principal needs to provide financial security for contractual obligations, the Bank Counter Guarantee includes specific provisions for claim procedures, payment terms, and enforcement mechanisms. This document type is essential for large-scale projects where financial security is required, and it often involves substantial monetary values and complex multi-party arrangements.
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. Parties: Identification of the Bank (Guarantor), the Principal (party requesting the guarantee), and the Beneficiary
2. Background: Context of the underlying transaction and the reason for the counter guarantee
3. Definitions: Definitions of key terms used throughout the guarantee document
4. Guarantee Amount: Specification of the maximum amount covered by the guarantee
5. Scope of Guarantee: Detailed description of the obligations being guaranteed
6. Duration and Expiry: 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. Documentation Requirements: List of documents required to make a claim under the guarantee
9. Payment Terms: Timeframes and mechanisms for payment upon valid claim
10. Bank's Rights and Obligations: Detailed outline of the bank's responsibilities and rights under the guarantee
11. Principal's Undertakings: Commitments and obligations of the principal party
12. Governing Law and Jurisdiction: Specification of South African law as governing law and jurisdiction details
13. Notices: Communication procedures and contact details for all parties
14. Execution: Signature blocks and execution requirements
1. Transfer and Assignment: Include when the guarantee needs to be transferable or assignable
2. Multiple Beneficiaries: Include when there is more than one beneficiary to the guarantee
3. Currency Provisions: Include for guarantees involving foreign currency
4. Step-In Rights: Include when the bank has the right to step into the underlying contract
5. Counter-Indemnity: Include when specific counter-indemnity provisions are required beyond standard terms
6. Dispute Resolution: Include when specific arbitration or alternative dispute resolution mechanisms are required
7. Force Majeure: Include when force majeure provisions are specifically relevant to the guarantee obligations
8. Compliance Requirements: Include when specific regulatory compliance obligations need to be detailed
1. Schedule 1 - Form of Demand: Template for making a claim under the guarantee
2. Schedule 2 - Underlying Contract Details: Summary or extract of the main contract being guaranteed
3. Schedule 3 - Fee Schedule: Details of bank fees and charges related to the guarantee
4. Schedule 4 - Security Documents: List and copies of security documents provided by the Principal
5. Appendix A - Required Claim Documentation: Detailed list of documents required for making a valid claim
6. Appendix B - Authorized Signatories: List of persons authorized to act on behalf of each party
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Construction and Infrastructure
Mining and Resources
Real Estate Development
International Trade
Manufacturing
Energy and Utilities
Telecommunications
Government and Public Sector
Commercial Property
Relevant Teams
Legal
Finance
Treasury
Risk Management
Compliance
Commercial Operations
Procurement
Project Management
Contract Administration
Corporate Secretariat
Relevant Roles
Chief Financial Officer
Treasury Manager
Finance Director
Contract Manager
Project Director
Legal Counsel
Banking Relationship Manager
Risk Manager
Commercial Director
Procurement Manager
Company Secretary
Financial Controller
Credit Manager
Compliance Officer
Find the exact document you need
Bank Guarantee In (Construction)
A South African law-governed security instrument where a bank guarantees payment to an employer for a contractor's default in construction projects.
find out more
Bank Guarantee For Lease
A South African law-governed bank guarantee that provides security to landlords against tenant default under lease agreements, replacing traditional cash deposits.
find out more
Foreign Bank Guarantee
A South African law-governed bank guarantee instrument where a bank provides a payment undertaking to a beneficiary, typically used in international transactions.
find out more
Bank Guarantee Letter For Tender
A South African bank-issued guarantee document that secures a tenderer's obligations in a competitive bidding process, providing financial assurance to the tender issuer.
find out more
Withdrawal Of Bank Guarantee Letter
A formal South African banking document that legally terminates a previously issued bank guarantee and releases the bank from its obligations under South African law.
find out more
Special Bank Guarantee
A South African law-governed bank guarantee where a bank commits to pay a specified sum to a beneficiary upon demand, subject to stated terms and conditions.
find out more
International Bank Guarantee
A South African law-governed bank guarantee document establishing a bank's commitment to pay a specified sum to a beneficiary in international business transactions.
find out more
Business Loan Guarantee
A South African law-governed agreement where a guarantor undertakes to secure the loan obligations of a borrower to a lender.
find out more
Performance Bond Guarantee
A South African law-governed financial guarantee instrument securing a contractor's performance obligations to their client, issued by a bank or insurance company.
find out more
Cheque Guarantee Letter
A South African bank-issued guarantee document ensuring payment of specified cheque(s) to the beneficiary under South African law.
find out more
Stand By Lc Bank Guarantee
A South African law-governed bank guarantee providing financial security through an irrevocable undertaking to pay upon documented default or non-performance.
find out more
Letter To Bank For Confirmation Of Bank Guarantee
A formal South African banking document requesting verification and confirmation of a bank guarantee's authenticity and validity from the issuing bank.
find out more
Bank Guarantee Security
A South African law-governed bank guarantee document establishing the bank's commitment to pay a specified sum to a beneficiary upon the principal debtor's default.
find out more
Bank Guarantee Property Purchase
A South African legal document where a bank guarantees payment of the purchase price to a property seller on behalf of the purchaser.
find out more
Bank Guarantee Facility
A South African law-governed agreement establishing terms for a bank to issue guarantees to beneficiaries on behalf of a customer.
find out more
Guarantee Letter For Bank Loan
A South African law-governed bank undertaking to pay a specified sum to a beneficiary if a borrower defaults on their loan obligations.
find out more
Bank Guarantee For Home Deposit
A South African legal document where a bank guarantees payment of a property deposit to a seller on behalf of a purchaser, subject to specified conditions.
find out more
Bank Guarantee For Supply Of Goods
A South African law-governed bank guarantee securing a buyer's interests in goods supply transactions, providing financial security if a supplier fails to meet their contractual obligations.
find out more
Fast Bank Guarantee
A South African banking instrument providing rapid, irrevocable financial security from a bank to a beneficiary upon demand, governed by local financial services laws.
find out more
Bank Transfer Guarantee
A South African law-governed banking instrument where a bank guarantees payment to a beneficiary under specified conditions, providing financial security for commercial transactions.
find out more
Bank Guarantee For Sale
A South African law-governed bank guarantee document ensuring seller protection in commercial transactions through bank-backed payment assurance.
find out more
Open Bank Guarantee
A South African law-governed bank guarantee document establishing the bank's commitment to pay a specified sum to a beneficiary upon valid demand.
find out more
Government Guarantee Term Deposits
South African government-guaranteed term deposit agreement establishing deposit terms and guarantee conditions under South African banking law.
find out more
Deferred Bank Guarantee
A South African law-governed bank guarantee that becomes effective upon specific future conditions, providing secured financial commitment from a bank to a beneficiary.
find out more
Bank Guarantee And Performance Guarantee
A South African law-governed financial instrument where a bank guarantees the performance or payment obligations of a principal party to a beneficiary.
find out more
Bank Guarantee For Tender Security
A South African banking instrument that provides financial security to tender issuers against the risk of tender participants failing to honor their bid commitments.
find out more
Bank Guarantee And Lc
South African law-compliant Bank Guarantee and Letter of Credit template incorporating local banking regulations and international practices.
find out more
Performance Security Bank Guarantee
A South African law-governed bank guarantee securing the performance obligations of a contractor or supplier, providing financial assurance to the beneficiary.
find out more
Term Deposit Guarantee
A South African law-governed guarantee agreement securing a fixed-term bank deposit, establishing obligations between guarantor, bank, and depositor.
find out more
Government Deposit Guarantee
A South African government-issued guarantee document that provides protection for specified deposits or financial obligations, subject to National Treasury oversight and PFMA regulations.
find out more
Bank Guarantee Lost Original
A South African banking document declaring a lost bank guarantee and providing indemnity for issuing a replacement.
find out more
Bank Account Guarantee
A South African law-governed bank guarantee document where a bank guarantees payment to a beneficiary if an account holder defaults on specified obligations.
find out more
Performance Guarantee In Tender
A South African law-governed financial guarantee issued by a bank to secure a tenderer's performance obligations in a tender process.
find out more
Bank Guarantee By Government
A South African government-issued bank guarantee document that provides financial backing for third-party obligations, compliant with PFMA and local banking regulations.
find out more
Performance Bank Guarantee In Tender
A South African law-governed bank guarantee securing a tenderer's performance obligations in a tender process, providing financial security to the tender issuer.
find out more
Direct Bank Guarantee
A South African law-governed bank undertaking to pay a specified sum to a beneficiary upon demand, serving as security for commercial transactions.
find out more
Deposit Guarantee
A South African law-governed agreement where a guarantor commits to paying a specified sum to a beneficiary under defined conditions, typically used in financial and commercial transactions.
find out more
Corporate Guarantee For Bank Loan
A South African law-governed guarantee agreement where a corporate entity guarantees a borrower's loan obligations to a bank.
find out more
Bid Security Bank Guarantee
A South African law-governed bank guarantee securing a bidder's obligations in a tender process, providing financial protection to the tender issuer.
find out more
Surety Bond Bank Guarantee
A South African law-governed bank guarantee instrument where a bank commits to pay a specified sum to a beneficiary upon defined trigger events or principal debtor default.
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)