Retention Bank Guarantee Template for United Arab Emirates

1. Multiple Currency Provisions: Required when the guarantee amount involves multiple currencies or currency conversion provisions

2. Step-Down Provisions: Optional section for when the guarantee amount reduces in stages over time

3. Assignment Restrictions: Required when there are specific restrictions on the assignment or transfer of the guarantee

4. Force Majeure Provisions: Optional section detailing how force majeure events affect the guarantee obligations

5. Islamic Banking Compliance: Required when the guarantee needs to comply with Islamic banking principles

6. Counter-Guarantee References: Required when there is a counter-guarantee from another bank involved

1. Form of Demand: Template for making a valid demand under the guarantee

2. Project Milestone Schedule: If the guarantee is linked to project milestones, this schedule details the relevant milestones

3. Step-Down Schedule: If applicable, details the schedule of guarantee amount reductions

4. Authorized Signatories: List of persons authorized to make demands under the guarantee