Bank Guarantee Letter Template for Singapore

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Bank Guarantee Letter

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Bank Guarantee Letter

"I need a Bank Guarantee Letter under Singapore law for a construction project tender, with a guarantee amount of SGD 5 million, to be valid from 1 March 2025 to 31 December 2025, with ABC Bank as issuer and XYZ Construction Ltd as beneficiary."

Document background
A Bank Guarantee Letter is a critical financial instrument in Singapore's commercial landscape, commonly used to secure business obligations and facilitate trade transactions. It serves as an independent payment undertaking from a bank, providing financial security to the beneficiary while enabling the principal to fulfill their contractual obligations. The document is governed by Singapore law and regulated by the Monetary Authority of Singapore (MAS), incorporating both local banking regulations and international standards such as URDG 758. Bank Guarantee Letters are particularly valuable in situations requiring financial assurance, such as construction projects, tender submissions, or international trade transactions.
Suggested Sections

1. Bank Details: Full legal name, registration number, and registered address of the issuing bank

2. Beneficiary Details: Full name, registration details and address of the party receiving the guarantee

3. Principal Details: Full name, registration details and address of the party requesting the guarantee

4. Guarantee Amount: Specific amount and currency of the guarantee, written in both numbers and words

5. Purpose of Guarantee: Clear statement of the underlying transaction or obligation being guaranteed

6. Validity Period: Effective date and expiry date of the guarantee, including conditions for extension if any

7. Demand Requirements: Specific conditions and process for making a claim under the guarantee

Optional Sections

1. Automatic Extension Clause: Optional clause used when guarantee period might need extension, typically for project-related guarantees with uncertain completion dates

2. Partial Claims Clause: Optional provision allowing for multiple partial claims up to the guarantee amount, used in complex commercial transactions

3. Counter-Guarantee Reference: Optional section referencing any counter-guarantee arrangements when involving multiple banks or jurisdictions

4. Digital Execution Provisions: Optional section specifying terms for digital signature and electronic execution when relevant

Suggested Schedules

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

2. Supporting Documents List: Comprehensive list of required documents for claim verification

3. Underlying Contract Reference: Key details and reference information of the contract being guaranteed

4. Authorized Signatories: List of authorized signatories and specimen signatures where required

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Clauses
Industries

Banking Act (Cap. 19): Primary legislation governing banking institutions and operations in Singapore, providing the fundamental regulatory framework for bank guarantees

Monetary Authority of Singapore Act (Cap. 186): Establishes MAS's regulatory authority and oversight of financial institutions issuing bank guarantees

Securities and Futures Act (Cap. 289): Relevant for bank guarantees related to securities or financial instruments trading

Contract Law (Amendment) Act: Provides the basic legal framework for formation and enforcement of contracts, including bank guarantees

Electronic Transactions Act: Governs electronic signatures and digital documentation, relevant for electronic bank guarantees

MAS Notice 610: Regulatory notice on risk-based capital requirements affecting banks' capacity to issue guarantees

MAS Notice 637: Guidelines on capital adequacy requirements that banks must maintain when issuing guarantees

MAS Guidelines on Banking Practices: Specific guidelines from MAS regarding acceptable banking practices, including issuance of guarantees

URDG 758: Uniform Rules for Demand Guarantees - International standard rules governing bank guarantees

ICC Guidelines: International Chamber of Commerce guidelines providing international standards for bank guarantees

ISP98: International Standby Practices - Rules governing international standby letters of credit and bank guarantees

Unfair Contract Terms Act: Singapore legislation controlling the use of unfair terms in contracts, including bank guarantees

Statute of Frauds: Legal principle requiring certain contracts, including guarantees, to be in writing and signed

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Freely Negotiable Letter Of Credit

find out more

Time Letter Of Credit

find out more

Verbiage Letter Of Credit

find out more

Transferable LC At Sight

find out more

Straight Letter Of Credit

find out more

Small Business Letter Of Credit

find out more

Secured Letter Of Credit

find out more

Red Letter Of Credit

find out more

Recourse Letter Of Credit

find out more

Local Letter Of Credit

find out more

Line Of Credit Letter

find out more

Non Operative Letter Of Credit

find out more

Letter Of Credit In Logistics

find out more

Letter Of Credit 90 Days

find out more

Letter Of Credit 60 Days

find out more

Letter Of Credit 30 Days

find out more

Irrevocable Confirmed LC At Sight

find out more

Installment Letter Of Credit

find out more

Inland Letter Of Credit

find out more

Green Letter Of Credit

find out more

Import Documentary Letter Of Credit

find out more

Domestic Letter Of Credit

find out more

Domestic LC

find out more

Discrepancy Letter Of Credit

find out more

Digital Letter Of Credit

find out more

Business Letter Of Credit

find out more

Beneficiary In Letter Of Credit

find out more

Authorization Letter To Claim Credit Card Delivery

find out more

Bank To Bank LC

find out more

Bank Guarantee And Letter Of Credit

find out more

Unrestricted Letter Of Credit

find out more

Unconditional Letter Of Credit

find out more

Transit Letter Of Credit

find out more

Synthetic Letter Of Credit

find out more

Syndicated Letter Of Credit

find out more

Structured Letter Of Credit

find out more

Revolving Letter Of Credit

find out more

Reverse Letter Of Credit

find out more

Restricted Letter Of Credit

find out more

Outstanding Letter Of Credit

find out more

Operative Letter Of Credit

find out more

Non Negotiable Letter Of Credit

find out more

Letter Of Credit Loc

find out more

Letter Of Credit Facility

find out more

Letter Of Credit Amendment

find out more

Lease Letter Of Credit

find out more

Irrevocable Revolving Letter Of Credit

find out more

Interest On Letter Of Credit

find out more

Fronting Letter Of Credit

find out more

Fronting Fee Letter Of Credit

find out more

Divisible Letter Of Credit

find out more

Direct Letter Of Credit

find out more

Credit Commitment Letter

find out more

Credit Card Welcome Letter

find out more

Credit Reference Letter From Bank

find out more

Credit Note Letter

find out more

Credit Extension Letter

find out more

Conditional Letter Of Credit

find out more

Commercial Letter Of Credit

find out more

Cash Collateral Letter Of Credit

find out more

Bond Letter Of Credit

find out more

Blockchain Letter Of Credit

find out more

Bankers Acceptance And Letter Of Credit

find out more

Beneficiary Certificate Letter Of Credit

find out more

Bank Facilities Letter

find out more

Backstop Letter Of Credit

find out more

Advised Letter Of Credit

find out more

Advising Bank In Letter Of Credit

find out more

Letter Of Credit In Shipping

find out more

Unconfirmed LC

find out more

Usance Letter Of Credit

find out more

Transferable LC

find out more

Import And Export Letter Of Credit

find out more

Release Letter Of Credit

find out more

Irrevocable Letter Of Credit

find out more

Documentary Letter Of Credit

find out more

Construction Letter Of Credit

find out more

Confirmed LC

find out more

Confirmed Irrevocable Letter Of Credit

find out more

Acceptance LC

find out more

LC Revocable

find out more

LC Non Transferable

find out more

Close Credit Card Letter

find out more

Discounting Letter Of Credit

find out more

Performance Letter Of Credit

find out more

Irrevocable Transferable LC

find out more

Export Letter Of Credit

find out more

At Sight LC

find out more

Performance Standby Letter Of Credit

find out more

Payment Guarantee Letter To Supplier

find out more

LC Letter Of Credit

find out more

Credit Facility Letter

find out more

Standby Letter Of Credit

find out more

Clean Letter Of Credit

find out more

Evergreen Letter Of Credit

find out more

Irrevocable Standby Letter Of Credit

find out more

Irrevocable Letter Of Guarantee

find out more

Bank Guarantee Letter

find out more

Credit Agreement Letter

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s 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

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.