Document background
The Cancellation Of Bank Guarantee Letter Template is a crucial document used in Singapore's financial sector when parties need to formally terminate a bank guarantee arrangement. This document is typically required when the underlying obligation has been fulfilled, the guarantee has expired, or when parties mutually agree to terminate the arrangement. It must comply with Singapore's Banking Act and MAS regulations, ensuring proper documentation of the release of the bank's obligations. The template includes essential elements such as guarantee reference details, beneficiary information, cancellation terms, and effective dates, providing a clear audit trail for regulatory compliance.
