Financial Guarantee And Performance Guarantee Template for Nigeria

1. Counter-Indemnity: Used when the guarantor requires indemnification from the principal debtor

2. Security: Include when additional security is provided to support the guarantee

3. Step-In Rights: Optional rights for guarantor to take over principal debtor's position

4. Multiple Guarantors: Required when more than one guarantor is involved, defining joint and several liability

5. Assignment and Transfer: Include if parties want ability to transfer guarantee rights

6. Currency Provisions: Needed for international transactions involving multiple currencies

7. Force Majeure: Optional protection against unforeseen events affecting performance

8. Arbitration: Alternative dispute resolution mechanism if preferred over court jurisdiction

1. Form of Demand: Template for making claims under the guarantee

2. Underlying Agreement: Copy or summary of the agreement being guaranteed

3. Payment Schedule: If applicable, schedule of guaranteed payments or milestones

4. Performance Criteria: Detailed metrics and standards for performance guarantee

5. Security Documents: If applicable, details of any supporting security arrangements

6. Corporate Authorizations: Copies of relevant corporate approvals and authorizations

7. Guarantor's Financial Information: Required financial statements or proof of financial capacity