Performance Bank Guarantee Template for New Zealand

1. Counter-Indemnity: Used when the Principal provides indemnity to the bank for any payments made under the guarantee

2. Assignment: Include when transfer rights need to be addressed, typically restricting assignment without consent

3. Multiple Beneficiaries: Required when there is more than one beneficiary to the guarantee

4. Reduction Provisions: Include when the guarantee amount may be reduced over time or upon certain milestones

5. Force Majeure: Optional clause addressing circumstances beyond parties' control that might affect the guarantee

6. Step-In Rights: Used when the bank has the right to step in and remedy defaults before paying out the guarantee

7. Dispute Resolution: Detailed dispute resolution procedures beyond simple jurisdiction clause, including mediation or arbitration provisions

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

2. Underlying Contract Details: Summary or extract of the key terms from the contract being guaranteed

3. Authorization Evidence: Copies of board resolutions or other authorization documents

4. Performance Milestones: If applicable, schedule of performance milestones that may trigger or affect the guarantee

5. Bank's Standard Terms and Conditions: Standard terms that apply to all guarantees issued by the bank

6. Communication Details: Detailed contact information and addresses for all parties for formal notices