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Banker's Guarantee For Individual
"I need a Banker's Guarantee For Individual to secure a rental property in Singapore, with a guarantee amount of SGD 50,000 and validity period from March 1, 2025, to February 28, 2025, where DBS Bank will be the guarantor for my residential lease agreement with Singapore Properties Ltd."
1. Parties: Details of the bank (guarantor), the individual (principal), and beneficiary
2. Background: Context of the guarantee and underlying transaction
3. Definitions: Key terms used in the guarantee
4. Guarantee Amount: Specific sum being guaranteed by the bank
5. Duration: Validity period of the guarantee including start and end dates
6. Demand Requirements: Process and conditions for making claims under the guarantee
1. Counter-Indemnity: Principal's obligation to indemnify the bank against any claims or losses
2. Assignment Clause: Provisions regarding the ability to transfer or assign rights under the guarantee
3. Governing Law and Jurisdiction: Specific jurisdiction and governing law clauses for international transactions
1. Form of Demand: Standard template for making claims under the guarantee
2. Security Documents: List and copies of additional security documentation if applicable
3. Fee Schedule: Detailed breakdown of bank's charges and fees for issuing and maintaining the guarantee
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