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Standard Wording For Bank Guarantee in Favor of CS CREDIT

1) This document provides standard wording for a bank guarantee in favor of Credit Suisse AG. 2) The bank guarantee unconditionally guarantees any obligations of the borrower under credit facilities granted by Credit Suisse, including cash cover for contingent liabilities. 3) The bank will pay Credit Suisse up to a specified amount upon written request stating amounts owed by the borrower are unpaid.

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3K views1 page

Standard Wording For Bank Guarantee in Favor of CS CREDIT

1) This document provides standard wording for a bank guarantee in favor of Credit Suisse AG. 2) The bank guarantee unconditionally guarantees any obligations of the borrower under credit facilities granted by Credit Suisse, including cash cover for contingent liabilities. 3) The bank will pay Credit Suisse up to a specified amount upon written request stating amounts owed by the borrower are unpaid.

Uploaded by

api-26156627
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Standard wording for Bank Guarantee in favor of CS

CREDIT SUISSE AG
Attn. ……………
8070 Zurich
Switzerland

SWIFT MT760 to: CRESCHZZ80A

Place, Date

BANK GUARANTEE No. …………………..

Reference is made to the credit facilities (hereafter the "Facilities") which you have granted and/or shall grant to
..…………………….. (hereafter "the Borrower"). This Bank Guarantee shall guarantee any and all obligations of
the Borrower under the Facilities, including, if applicable, any obligation to provide cash cover in connection with
outstanding contingent liabilities.

We, Bank …………………………, hereby unconditionally and irrevocably undertake to pay to you on your first
demand, irrespective of the validity and the legal effects of the Facilities and waiving all rights of objection and
defense arising from the Facilities, any amount up to

XXX ………. (in words: ……………………………………………………..)


(principal, interests, commissions and costs all included)

upon receipt of your written request for payment, by duly signed letter or authenticated SWIFT, stating that the
amount you are claiming from us hereunder has remained unpaid by the Borrower when due.

The amount of this Bank Guarantee will be reduced by any payment effected by us hereunder.

Our Bank Guarantee is valid until ……………… and expires automatically and in full if the claim hereunder has not
been made on or before that date, regardless of such date being a bank working day or not.

This Bank Guarantee shall be governed by and construed in accordance with substantive Swiss law (i.e. excluding
conflict of laws rules). Any conflict arising out of or in connection with this Payment Obligation shall be subject to
the exclusive jurisdiction of the Commercial Court of the Canton of Zurich, with reserve of appeal to the Swiss
Federal Court. You shall be authorized to initiate legal proceedings against us also before any other competent
court.

BANK …………………

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