Document background
The Guarantee And Indemnity Contract Of Sale is utilized when additional security is required for sale transactions in Singapore. This document is particularly relevant when there's a need to secure the performance of a seller's obligations or when the buyer requires additional assurance beyond the primary sale agreement. It combines both guarantee and indemnity elements, providing comprehensive protection under Singapore's legal framework. The document typically includes detailed provisions on the scope of guaranteed obligations, enforcement mechanisms, and remedies available to the beneficiary.
