MT760 - ISSUE OF AN ADVANCE PAYMENT GUARANTEE
.
WE HEREBY ISSUE OUR BANK GUARANTEE AS PER THE FOLLOWING SPECIFICATIONS:
20 CREDIT NUMBER XXX
30 DATE OF ISSUE XXX
40C APPLICABLE OTHR/AS PER FIELD 77U
RULES
31E DATE OF EXPIRY XXX
XXX
50 APPLICANT ADDRESSXXX
EURO EXIM BANK LTD
52D ISSUING BANK OFFICE 2, 1ST FLOOR, LA PLACE CREOLE
BUILDING, POB 505, RODNEY BAY
GROS-ISLET, SAINT LUCIA (EULULCL1)
XXX
59 BENEFICIARY ADDRESSXXX
ACCOUNT NO.XXX
56A ADVISING BANK XXX
ADDRESSXXX
SWIFT CODE : XXX
57A ‘ADVISE XXX
THROUGH’ BANK ADDRESSXXX
SWIFT CODE : XXX
32B CURRENCY CODE
AND CREDIT XXX###,##
AMOUNT
ALL BANK CHARGES OUTSIDE ISSUER
71D CHARGES COUNTRY ARE ON BENEFICIARY'S
ACCOUNT
45C DOCUMENT AND PLACE OF PRESENTATION: AT OUR COUNTERS
PRESENTATION FORM OF PRESENTATION: PAPER/BY COURIER SERVICE
INSTRUCTIONS LANGUAGE OF ANY REQUIRED DOCUMENTS: ENGLISH
77U UNDERTAKING WE HAVE BEEN INFORMED THAT APPLICANTXXX OF ADDRESSXXX (THE
TERMS AND ‘APPLICANT’) HAS ENTERED INTO CONTRACT NO. XXX DATED XXX , WITH
CONDITIONS VALUE OF XXX###,## FOR THE PROPOSED PROJECT TO
PROJECTSHORTDESCRIPTIONXXX (THE 'CONTRACT'). FURTHERMORE, WE
UNDERSTAND THAT ACCORDING TO THE CONDITIONS OF THE
CONTRACT, AN ADVANCE PAYMENT IS REQUIRED.
.
AT THE REQUEST OF OUR CUSTOMER APPLICANTXXX, THIS ADVANCE
PAYMENT GUARANTEE IS IN FAVOR OF BENEFICIARYXXX OF ADDRESSXXX
(THE 'BENEFICIARY'), AS PER THE UNDERLYING RELATIONSHIP. THE
AMOUNT OF THIS IRREVOCABLE ADVANCE PAYMENT GUARANTEE IS
XXX###.## (XXX ONLY) (THE 'GUARANTEE').
.
WE HEREBY GUARANTEE THE DUE AND FAITHFUL PERFORMANCE OF THE
APPLICANT UNDER AND IN ACCORDANCE WITH THE CONTRACT AND
AGREE AND UNDERTAKE TO PAY YOU IN DUE ACCORDANCE WITH THE
BANK’S GENERAL TERMS AND CONDITIONS APPLICABLE TO ISSUANCE OF
THIS GUARANTEE, SUCH SUM OR SUMS UP TO AN AGGREGATE SUM OF
XXX###,## (XXX ONLY) (THE ‘GUARANTEE AMOUNT’) ON YOUR FIRST
COMPLYING WRITTEN DEMAND FOR PAYMENT WHEN THAT DEMAND IS
PRESENTED TO US AT OUR COUNTERS AS PER OUR FILES DURING
BUSINESS HOURS ON A DAY ON WHICH BANKS ARE OPEN FOR BUSINESS
IN SAINT LUCIA ACCOMPANIED BY THE FOLLOWING DOCUMENTS IN THE
MANNER BELOW:
OUR PRIOR WRITTEN CONFIRMATION OF ACCEPTANCE OF YOUR
DEMAND MADE VIA AN AUTHENTICATED SWIFT MT799 AND THE
BENEFICIARY'S AUTHENTICATED AND SIGNATURE VERIFIED CERTIFICATE
THAT THE APPLICANT HAS FAILED TO HONOR IN WHOLE ITS
OBLIGATIONS TO THE BENEFICIARY WITH RESPECT TO THE UNDERLYING
RELATIONSHIP BY SPECIFYING SUCH FAILURE AND THAT THE AMOUNT
OF BENEFICIARY'S DEMAND UNDER THIS GUARANTEE IS NOT GREATER
THAN THE CREDIT AMOUNT DUE AND PAYABLE TO THE BENEFICIARY BY
THE APPLICANT PURSUANT TO THOSE OBLIGATIONS.
A LETTER FROM THE APPLICANT SIGNED BY ITS AUTHORIZED
SIGNATORIES, THAT THEY HAVE RECEIVED THE FULL ADVANCE PAYMENT
FROM THE BENEFICIARY.
.
ANY DEMAND (INCLUDING THE REQUISITE NOTIFICATION BY YOU AND
PRIOR CONFIRMATION OF ACCEPTANCE BY US) UNDER THIS GUARANTEE
MUST BE MADE IN WRITING AND PRESENTED, BY YOU TO US, DURING
THE PRESENTATION PERIOD (AS DEFINED BELOW), AT THE PLACE FOR
PRESENTATION, INDICATED ABOVE OR AT SUCH ADDRESS AS NOTIFIED
BY US IN WRITING. NO DEMAND FOR PAYMENT BY THE BENEFICIARY
MAY BE PRESENTED TO THE BANK UNDER THIS GUARANTEE UNTIL AFTER
THE BENEFICIARY HAS EXHAUSTED ALL AVAILABLE CIVIL AND/OR
CRIMINAL AND/OR ARBITRAL RECOVERY (COURT ORDERS OBTAINED)
REMEDIES AND RESPECTIVE ENFORCEMENT AFFECTED THEREOF AS
CONTAINED IN THE CONTRACT AND REMEDIES IN EQUITY FULLY
CONSUMED AGAINST THE CONTRACTOR FOR ITS NON-PERFORMANCE
UNDER THE CONTRACT.
.
HOWEVER, NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED IN THE ISSUING TERMS OF THIS GUARANTEE, THE DEMAND
MADE BY THE BENEFICIARY SHOULD COMPLY IN FORMAT, MANNER,
TERMS AND CONDITIONS WITH THOSE PRESCRIBED AND CONTAINED IN
THE BANK'S POLICIES.
.
ANY REQUEST AND PAYMENT UNDER THIS GUARANTEE IS CONDITIONAL
ON RECEIPT OF ADVANCE PAYMENT BY THE APPLICANT MENTIONED
ABOVE IN IT’S ACCOUNT BEARING THE NUMBER XXX TO XXX OF XXX
(NAME AND ADDRESS OF BANK). THE MAXIMUM AMOUNT OF THIS
GUARANTEE WILL BE GRADUALLY REDUCED BY THE AMOUNTS OF THE
ADVANCE REIMBURSED BY THE APPLICANT AS INDICATED IN THE COPY
OF THE STATEMENTS OR PAYMENT CERTIFICATES THAT WILL BE
PRESENTED TO US.
.
ANY ASSIGNMENT OF RIGHTS OUT OF THIS GUARANTEE IS SUBJECT TO
THE PRIOR WRITTEN CONSENT OF THE ISSUER. THE BENEFICIARY MAY
MAKE ONLY ONE DEMAND UNDER THIS GUARANTEE AND SUCH
DEMAND SHALL BE LESS THAN OR EQUAL TO THE TOTAL GUARANTEE
AMOUNT.
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THIS GUARANTEE IS IN ADDITION TO AND NOT IN SUBSTITUTION OF ANY
OTHER GUARANTEE OR SECURITY NOW OR WHICH MAY HEREAFTER BE
HELD BY YOU IN RESPECT OF OR RELATING TO THE CONTRACT. THE BANK
UNDERTAKES NOT TO REVOKE THIS GUARANTEE DURING ITS CURRENCY,
EXCEPT WITH THE PREVIOUS EXPRESS CONSENT OF THE BENEFICIARY IN
WRITING.
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ON EXPIRY DATE, THIS GUARANTEE SHALL BECOME NULL AND VOID,
WHETHER RETURNED TO US FOR CANCELLATION OR NOT, AND ANY
DEMAND RECEIVED BY OUR OFFICE EARLIER THAN SEVEN (3) DAYS
BEFORE OR AFTER THE EXPIRY DATE (THE 'PRESENTATION PERIOD')
SHALL BE INEFFECTIVE AND THE BANK SHALL ACCORDINGLY BE
DISCHARGED FROM ITSLIABILITIES HEREUNDER. ANY DISCREPANT CLAIM
FOR PAYMENT UNDER THIS GUARANTEE IS PROHIBITED AND WILL LEAD
TO AN IMMEDIATE TERMINATION OF THIS GUARANTEE.
.
THIS GUARANTEE IS SUBJECT TO THE UNIFORM RULES FOR DEMAND
GUARANTEES (URDG), 2010 REVISION, ICC PUBLICATION NO. 758 AS
MODIFIED BY THE TERMS AND OTHER CONDITIONS GOVERNING THE
ISSUANCE OF THIS GUARANTEE INCLUDING CREDIT NORMS OF THE
ISSUING INSTITUTION. IN THE EVENT OF ANY CONFLICT, CONTRADICTION
OR INCONSISTENCY BETWEEN THE ISSUING TERMS OF THIS GUARANTEE
AND THE TERMS OF URDG758/ISBP745 (AS APPLICABLE), THE ISSUING
TERMS OF THIS GUARANTEE SHALL PREVAIL. ARTICLE 20A OF URDG 758
SHALL NOT BE APPLICABLE AND ANY DISPUTES OR CLAIM ARISING IN
CONNECTION WITH THIS DOCUMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS AND JURISDICTION OF
THE ISSUANCE COUNTRY.
.
FIELD 40C TO READ AS OTHR/ AS PER FIELD 77U. THIS IS AN OPERATIVE
INSTRUMENT.
44H PLACE OF SAINT LUCIA
JURISDICTION
48B DEMAND NMPT
INDICATOR
48D DEMAND TRANSFERABLE
INDICATOR
45L UNDERLYING UNDERLYING RELATIONSHIP DOCUMENT: CONTRACT NO. XXX DATED
TRANSACTION XXX SIGNED BY APPLICANT AND BENEFICIARY
DETAILS .
PURPOSE: XXX
