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You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate this Guarantee to any successor entity, affiliated corporation, or third-party financier provided such assignment, transfer, or novation is made in accordance with the provisions of this Guarantee and with the prior written consent of both the Guarantor and the App... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Standby Letter of Credit is governed by the laws of the Dubai International Financial Centre, and any dispute shall be subject to the exclusive jurisdiction of the courts of the Dubai International Financial Centre. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Examination of demands shall be completed within 5 business days of presentation, in accordance with URDG 758 Article 20. During examination, the Guarantor may seek clarifications from the Beneficiary regarding discrepancies, but the examination period shall not be extended beyond the 5 business day timeframe. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Expiry Date: The earlier of (i) thirty (30) calendar days following issuance of Final Acceptance Certificate by Beneficiary accompanied by required supporting documentation... or (ii) 31 December 2026 |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall expire automatically on the third anniversary of its issuance unless terminated earlier in accordance with the terms hereof. Termination shall become effective upon the Guarantor's receipt of a written notice from the Beneficiary's treasury department during Zurich business hours. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall remain valid until the 31st day of December in any given year, after which it shall automatically terminate. The Guarantor may cancel this instrument by issuing written notice via notarized SWIFT MT799 to the Beneficiary's headquarters, such notice being effective upon receipt within the 5th calend... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This guarantee shall remain valid for a period of three years from the date of issuance, after which it shall automatically expire unless terminated by either: (a) the Guarantor serving written notice of non-renewal via authenticated SWIFT and registered post exactly five business days prior to the expiry date, such no... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantor shall have five (5) business days from the date of receipt of the demand and all accompanying documents (if any) to examine the presentation for compliance with the terms and conditions of this Guarantee. This examination period complies with URDG 758 Article 20(a). |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall automatically expire at 17:00 GMT on 31 December 2025 ('Scheduled Expiry'), unless extended by written notice from the Beneficiary delivered to the Guarantor at least forty-five (45) calendar days prior to Scheduled Expiry. The Beneficiary may exercise its sole discretion to extend the validity for... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may assign, transfer, or otherwise dispose of all rights and benefits under this Guarantee to any third party, successor entity, or governmental agency; provided that such assignment must be notified in writing to both the Applicant and the Guarantor prior to its effectiveness. The Guarantor shall recog... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | the Guarantor may terminate this instrument by issuing written notice to Beneficiary sent by registered international mail [...] effective only if received by Beneficiary within thirty (30) London business days prior to the due date specified in the demand. Any notice received after such thirty (30) business day period... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall remain valid until the expiry date specified in the Guarantee, which is [insert expiry date], unless terminated by the Guarantor serving written notice of termination via authenticated SWIFT MT799 to the Beneficiary's designated SWIFT address at least five (5) London business days prior to the inte... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall automatically terminate on the third anniversary of its issuance, unless terminated earlier by the Guarantor serving written notice via notarized courier to the Beneficiary's registered address during the period between the 1st and 5th calendar days of January in any given year. Such termination sh... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | All demands must be received by 15:00 London time on the expiry date and shall be subject to an examination period of five (5) business days from date of receipt, in accordance with URDG 758 Art. 20(a). |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantor irrevocably submits to the exclusive jurisdiction of the Dubai International Financial Centre Courts for all disputes arising under or in connection with this Guarantee. Judgments obtained in such courts shall be enforceable without rehearing on the merits. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate all rights and benefits under this Guarantee to any successor entity, provided such successor entity is approved in writing by both the Guarantor and the Applicant prior to the assignment. Notice of assignment shall be deemed effective upon dispatch by the Benefici... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Payment hereunder shall be made immediately upon presentation of a complying demand, subject to the Guarantor's right to investigate the underlying facts and require a beneficiary statement indicating the applicant's breach and the nature of the default. The Beneficiary may demand payment by delivering to the Guarantor... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may declare an Acceleration Event requiring full repayment if the Applicant's financial condition deteriorates materially, as determined in the Beneficiary's sole discretion through review of quarterly financial statements or credit rating downgrades below investment grade by Standard & Poor's or Moody'... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may not assign, transfer, or novate this Guarantee to any successor entity, affiliated corporation, or third-party financier without obtaining prior written consent from both the Guarantor and Applicant. Notice of assignment shall be deemed effective upon the Guarantor's receipt of a signed written noti... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Beneficiary may freely assign all rights and benefits under this guarantee to any successor entity, provided such assignment is made with the prior written consent of both Guarantor and Applicant, and the assignee demonstrates privity in the underlying Lease or provides evidence satisfactory to Guarantor and Applicant ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate all rights and benefits under this guarantee to any successor, affiliate, or third-party acquirer of the leased premises; however, such assignment must be approved by both the Guarantor and Applicant prior to its effectiveness. Notice of such assignment shall be pr... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may not assign, transfer, or novate any rights and benefits under this Guarantee to any successor, affiliate, or third party without the prior written consent of both the Guarantor and the Applicant. Any such assignment must be approved by the Guarantor, and the Guarantor shall only recognize and make p... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding URDG 758 Article 25, this Guarantee shall automatically extend for 180 calendar days upon receipt by the Guarantor of any notice of dispute from the Applicant regarding a Beneficiary demand, provided such notice is accompanied by a binding commitment to arbitration under ICC Rules. During such extension... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall remain valid for a period of three years from the date of issuance, after which it shall automatically expire unless terminated by the Beneficiary's written notice delivered within a five-business-day window preceding the expiry date. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Any demand presented shall be deemed prima facie valid and enforceable, provided that it includes a statement indicating a breach as required by URDG Article 15. The Beneficiary's determination of default, supported by such statement, shall constitute conclusive evidence of indebtedness binding upon both Guarantor and ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary must submit written notice of ongoing contractual disputes to the Guarantor, who shall then review and issue a certificate of acceptance within 30 days. Upon receipt of such certificate, the expiry date of this guarantee shall be extended for 180 days. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Subject to the exclusive jurisdiction of the courts of the Dubai International Financial Centre, without parallel enforcement rights in any jurisdiction worldwide where the Guarantor maintains assets. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantee amount shall be adjusted semi-annually on 1 January and 1 July commencing 1 January 2024, based on the Singapore Consumer Price Index published by the Department of Statistics Singapore, with the initial adjustment capped at ±3% of the then-current guarantee amount. The Guarantor shall provide notice to t... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may request an extension of the expiry date by providing written notice (including authenticated SWIFT) citing ongoing lease disputes, provided such notice is received at least 45 days prior to the current expiry. Any extension must be agreed upon in writing by both the Guarantor and the Applicant. The ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the stated Expiry Date, this guarantee shall automatically extend for a supplementary period of one hundred eighty (180) calendar days upon the Guarantor's receipt of a written notice from the Beneficiary indicating the existence of a bona fide dispute concerning the Applicant's performance under the Pr... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or pledge all rights and benefits under this Guarantee to any successor entity, affiliate, or financial institution, provided that such assignment is expressly permitted by the terms of this Guarantee and that the assignee provides written notice of assignment to the Guarant... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The guarantee shall expire 180 calendar days after the date of issuance, unless earlier terminated upon payment or cancellation by the Guarantor. Upon receipt by the Guarantor of any notice of dispute from the Applicant relating to a demand, the guarantee shall remain in effect until the final determination of the disp... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary's determination of default under the MSA shall be final and binding on the Guarantor, provided that the Guarantor retains the right to challenge such determination through judicial or arbitral proceedings if the determination is manifestly fraudulent or in bad faith. The Applicant expressly waives any r... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall remain valid until the expiry date specified in the Guarantor's offer, which shall not exceed three years from the date of issuance, unless otherwise agreed upon in writing. The Guarantor may terminate this Guarantee at any time by providing written notice to the Beneficiary, such termination becom... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate all rights and benefits under this guarantee to any successor governmental entity, sovereign wealth fund, or international financial institution, provided such assignment is made with the prior written consent of the Guarantor and the Applicant. Any such assignment... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the foregoing, the Beneficiary may unilaterally extend the expiry for successive 180-day periods by written notice citing ongoing dispute resolution proceedings under Clause 20 of the EPC Agreement, provided such notice is received at least 30 days prior to the current expiry, and the Guarantor acknowle... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantee shall remain enforceable against the Guarantor notwithstanding the Applicant's liquidation, administration, dissolution, or nationalisation, with obligations terminating automatically upon the expiry of the term specified in Proviso 3, which is three years from the date of issuance unless earlier terminat... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate all rights and benefits under this Guarantee to any successor, affiliate, or third party, provided such assignment, transfer, or novation is expressly stated as 'transferable' in the Guarantee and is subject to the Guarantor's prior written consent. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Payment hereunder shall be made immediately upon presentation of a demand accompanied by a statement from the beneficiary indicating the breach of the underlying contract or agreement. The Guarantor irrevocably waives any right to investigate the veracity of the demand or underlying default, provided that the statement... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall be governed by and construed in accordance with the laws of England and Wales. Any dispute arising hereunder shall be subject to the exclusive jurisdiction of the courts of England and Wales. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the Governing Law provision in Proviso 11, exclusive jurisdiction for all disputes resides with the Singapore International Commercial Court. The Guarantor irrevocably consents to such jurisdiction and waives all immunity defenses. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The triggering events... shall include... the submission by the Beneficiary of a statement indicating that the Applicant has failed to maintain the Properties... or that the Beneficiary reasonably anticipates... that the aggregate dilapidations liability... may exceed the reserved amount, accompanied by supporting docu... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the fixed Expiry Date stated in the Guarantee Particulars, the Beneficiary shall have the sole and exclusive discretion, exercisable at any time prior to the stated Expiry Date, to provide to the Guarantor a written certificate of satisfactory performance. Upon receipt by the Guarantor at its Office of ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The guarantee amount shall remain fixed at the amount specified in the application. Any request for adjustment must be made in writing by the Beneficiary and shall be subject to mutual agreement between the Guarantor and the Beneficiary. If no such agreement is reached within thirty (30) calendar days from the date of ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | provide satisfactory evidence, as defined by the Guarantor, that contractual remedies were exhausted, which shall include, but not be limited to, certified copies of court orders, arbitration awards, or formal written communications from the counterparty indicating the exhaustion of remedies. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Expiry Date: 31 December 2026 or upon issuance of the Final Completion Certificate by the Independent Project Monitor, whichever occurs first. If the Independent Project Monitor has not issued either a Final Completion Certificate or a Notice of Dispute by 31 December 2026, expiry shall be automatically extended for su... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary retains the unconditional and irrevocable right to assign, transfer, novate, or otherwise dispose of its rights, titles, and interests under this Guarantee to any successor entity, affiliate, consortium partner, financial institution, or third-party assignee, provided such assignment is in accordance wi... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | A sworn declaration by the Beneficiary's Project Director, in a form specified in the Guarantee, attesting that Astra Construction Pte. Ltd. has committed a fundamental breach... accompanied by prima facie evidence demonstrating such misuse or failure to protect the funds;... Documentary proof specified in the Guarante... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Applicant irrevocably consents to immediate payment upon demand presentation and acknowledges the right to seek judicial review of any abusive demands. The Applicant agrees that any attempt to restrain payment must be substantiated through appropriate legal proceedings and shall not automatically trigger immediate ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This guarantee shall be governed by and construed in accordance with the laws of England, without regard to its conflict of laws principles. The parties irrevocably submit to the exclusive jurisdiction of the English courts for all disputes arising directly or indirectly from this instrument. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Upon receipt by the Guarantor of a written request from the Beneficiary to extend this Guarantee for 180 calendar days beyond its current expiry, provided such request is accompanied by a detailed description of the alleged breach and supporting documentation, this Guarantee shall be extended accordingly. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Expiry Date: 31 December 2028 or upon final acceptance of all warranty obligations by Beneficiary, subject to automatic nullity on that date unless a bona fide dispute notification has been provided by the Beneficiary within 180 days prior to the expiry date. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate all rights hereunder to any successor, affiliate, or third-party acquirer only with the prior written consent of the Guarantor and Applicant. Such assignment becomes effective upon the Guarantor's and Applicant's receipt of a duly executed assignment agreement and ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign this Guarantee to any successor, affiliate, or third-party acquirer of the Property provided such assignment is made in accordance with the terms of this Guarantee, including obtaining the prior written consent of the Guarantor and the Applicant, and the Assignee provides written notic... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Any dispute, controversy, or claim arising out of or in connection with this guarantee, including any question regarding its existence, validity, or termination, shall be exclusively submitted to the competent courts of the place of business of the Guarantor, with the parties irrevocably submitting to such jurisdiction... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This guarantee is governed exclusively by the laws of England, without regard to its conflict of laws principles. Exclusive jurisdiction for all disputes is granted to the English courts, with parties irrevocably submitting to their authority. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate this Guarantee in whole or in part to any successor, affiliate, subsidiary, or third-party entity provided such assignment, transfer, or novation is expressly permitted by the Guarantor in writing. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Upon receipt of any notice from the Applicant asserting a bona fide dispute regarding the Beneficiary's claim, this guarantee shall remain in effect until the earlier of (i) the expiry date as originally stated, or (ii) the date on which the parties mutually agree to extend the expiry date in writing, to allow for reso... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantor may terminate this Guarantee by issuing a written notice of termination via authenticated SWIFT to the Beneficiary, with such termination becoming effective on the first business day following the receipt of the notice by the Beneficiary. If the Guarantor fails to deliver the notice, the Guarantee shall e... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Upon receipt of any notice of dispute from the Applicant regarding the underlying Tender, the Guarantor shall review the dispute and, if deemed necessary, extend this Guarantee for 180 calendar days beyond its current expiry to allow for resolution proceedings. The Guarantor shall notify both parties of such extension ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall remain valid for a period of three years from the date of issuance, after which it shall automatically expire unless terminated earlier by either: (i) the Beneficiary's signed release delivered to the Guarantor's London office; or (ii) the Applicant serving written cancellation notice during the an... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | the occurrence of any event constituting a Material Adverse Change under Clause 17.3 of the Master Contract as determined in the Beneficiary's sole and absolute discretion... The Beneficiary's certification of default regarding technical specifications, delivery timelines, or financial covenants shall be accompanied by... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Enforcement actions shall be initiated in the courts of the jurisdiction where the Guarantor maintains its principal place of business or assets, as specified in the Guaranty. The Beneficiary shall not pursue simultaneous proceedings in multiple forums without the Guarantor's prior written consent, and the Guarantor re... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantor reserves the right to require any supporting documentation, evidence of default, judicial determination or third-party certification as a precondition to payment. Notwithstanding the above, the Beneficiary's written statement as to the existence of a default under Clause 3(d) of the Demand Requirements sh... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | A declaration executed by the Beneficiary stating: 'PetroGlobal Pte Ltd hereby demands payment... due to the occurrence of a Drawstop Event as defined in Section 3 thereof, and we hereby provide the following details to support this determination: [insert specific details indicating breach of the terms of the Guarantee... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or pledge all rights hereunder to any successor entity, affiliated corporation, financial institution, or third-party assignee; however, such assignment must be approved by both the Guarantor and the Applicant prior to its effectiveness. Notice of assignment shall be deemed ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Expiry Date: 30th November 2025 or upon the Beneficiary's issuance of a certificate of satisfactory contract performance by an independent third party, whichever occurs first, subject always to Clause 4.2... This Guarantee shall automatically expire... (ii) the Beneficiary's issuance of a written release notice... conf... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantee amount shall not be subject to any automatic increases. Any variation in the Guarantee amount must be agreed upon in writing by both parties and shall be subject to the terms and conditions set forth in the underlying contract. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary's written statement of default shall be examined by the Guarantor to ensure compliance with the terms of this Guarantee. The Guarantor may request additional information from the Beneficiary to verify the claim. If the Guarantor determines that the statement complies with the terms of this Guarantee, th... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary's declaration of default in its demand shall be treated as prima facie evidence of indebtedness, subject to the Guarantor's right to request a supporting statement from the Beneficiary detailing the circumstances of the default and the quantification of losses. The Guarantor may challenge the Beneficiar... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantor's maximum aggregate liability shall be USD 50,000,000 (Fifty Million United States Dollars) upon issuance. This amount may be varied only upon occurrence of specified events as set forth in the underlying transaction documents, and shall not automatically increase. Any variation in the liability amount mu... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary's determination of default shall be conclusive and binding upon the Guarantor, provided such determination is supported by a statement indicating the respect of breach as required by URDG 758 Article 20. The Guarantor shall not require independent verification of the alleged breach but shall make paymen... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary must submit a statement indicating breach and a bilateral settlement agreement bearing the Applicant's genuine signature, which the Guarantor shall examine and accept as conclusive evidence of debt admission only if it is in accordance with the terms of this guarantee. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the governing law specified in Proviso 6, the Guarantor irrevocably agrees that any judgment obtained in the Singapore International Commercial Court shall be enforceable against its assets within the jurisdiction of Singapore without limitation or restriction. The Guarantor expressly waives all rights ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Supporting documentation comprising either: (i) copies of unpaid invoices [...] or (ii) a certificate signed by a director of the Beneficiary attesting to the existence and quantum of the default, accompanied by satisfactory evidence of the breach as defined by the terms of this guarantee. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may, with the consent of the Guarantor or Applicant, assign, transfer, novate, or otherwise dispose of all or any part of its rights, benefits, and obligations under this Guarantee to any third party, corporate entity, sovereign wealth fund, special purpose vehicle, or successor entity... Such assignmen... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Any dispute arising out of or in connection with this Guarantee shall be exclusively submitted to the jurisdiction of the English Courts. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Expiry Date: 31 December 2026. In the event of a bona fide dispute, the validity of this guarantee may be extended by the Issuing Bank for an additional 180 calendar days upon receipt of a written notice from the Applicant within sixty days prior to the expiry date. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This instrument shall remain valid for a period of three years from the date of issuance, after which it shall expire unless terminated by the Guarantor via written notice to the Beneficiary received no later than five (5) business days prior to the expiry date. In the absence of such notice, the instrument shall expir... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall be governed by and construed in accordance with the laws of England and Wales, and any dispute arising out of or in connection with this Guarantee shall be exclusively submitted to the jurisdiction of the English courts. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding URDG Article 20, the Guarantor shall have 5 business days to examine demands from the date of complete document presentation. Incomplete presentations shall not suspend the examination period; instead, the Guarantor shall notify the Beneficiary of the deficiencies within the said 5 business days and sha... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This guarantee shall automatically extend for 180 calendar days upon receipt by the Guarantor of any written request from the Beneficiary to extend the guarantee, provided such request is made in accordance with the terms and conditions set forth in the Guarantee. Such extension shall occur without notice to the Applic... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | No fixed expiry. This guarantee shall remain valid for a period of three years from the date of issuance, unless earlier terminated in writing by the Issuing Bank at its sole discretion or upon written release by the Beneficiary, in accordance with URDG 758 Article 25. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate this Guarantee to any successor governmental entity, sovereign wealth fund, or international consortium, provided such assignment, transfer, or novation is made with the prior written consent of both the Guarantor and the Applicant, and is subject to the Guarantor'... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The exclusive jurisdiction for all disputes arising out of or in connection with this Guarantee is granted to the courts of the Guarantor's home jurisdiction, which is England and Wales, unless otherwise agreed in writing by both parties. The parties irrevocably waive any objection to venue and consent to service of pr... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may, upon prior written notice to and consent from the Guarantor and Applicant, assign, transfer, pledge, or otherwise encumber all or part of its rights, title, and interest in this Guarantee to any third party. The Guarantor reserves the right to contest the validity or commercial purpose of any such ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding any other provision herein, this Guarantee shall remain valid and enforceable until the earlier of: (i) The Beneficiary's delivery to the Guarantor of a signed Release Certificate in the form annexed hereto as Schedule B; (ii) The expiry date specified in the Guarantee; provided, however, that the liabi... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Payment shall be made immediately upon receipt of a demand from the Beneficiary stating the nature of the default and indicating that the applicant has breached the terms of the Guarantee... The Beneficiary's determination of default shall be prima facie evidence of such breach, but the Guarantor retains the right to e... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the stated Expiry Date, this guarantee shall automatically extend for one hundred eighty (180) calendar days upon receipt by the Guarantor of written notice from the Beneficiary indicating a bona fide dispute exists regarding any aspect of the claim. Such extension may occur multiple times throughout th... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Expiry Date: The earlier of (i) 31 December 2026; or (ii) thirty (30) calendar days following the Guarantor's receipt of a written certification from the Beneficiary that all primary performance obligations under the Underlying Contract have been satisfactorily discharged and no latent defects notifications are outstan... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Beneficiary may assign rights to any successor, affiliate, or third-party provided such assignment is approved in writing by Guarantor prior to the assignment becoming effective. Upon approval, notice containing the transferee's legal name and jurisdiction shall be provided to Guarantor. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Guarantor shall have no obligation to verify the factual accuracy of any default assertion contained therein, and payment shall be made solely against a compliant presentation as defined in the Guarantee without inquiry into the underlying merits. The Guarantor expressly waives all defenses based on fraud, set-off,... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary must provide a written certification to the Guarantor and Applicant within 30 days of the completion of the works, stating the date of satisfactory performance completion based on the submission of all required documentation and testing results demonstrating compliance with the EPC Contract specificatio... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall expire ... upon presentation of the Beneficiary's signed Satisfaction Certificate (whichever occurs first)... Not later than the Expiry Date... The Guarantee shall automatically extend for a period of one hundred eighty (180) days from the date of the Dispute Notification Letter, provided that the ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may freely assign, transfer, or novate all rights and benefits under this Guarantee to any successor, affiliate, subsidiary, or third-party entity provided such assignment is expressly permitted by the Guarantor in writing. The Guarantor shall honour demands presented by any assignee only if such assign... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall be governed by the laws of England and Wales, and any disputes arising hereunder shall be exclusively resolved in the Singapore International Commercial Court, without the Beneficiary reserving the right to initiate parallel enforcement actions in any jurisdiction worldwide. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | Notwithstanding the fixed Expiry Date, the Beneficiary may unilaterally extend the validity of this Guarantee for additional periods of six months each by providing written notice to the Guarantor not less than thirty calendar days prior to the then-current expiry date, provided such extension requires the Guarantor's ... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | This Guarantee shall remain valid for a period of three (3) years from the date of issuance, unless terminated by the Guarantor via written notice delivered to the Beneficiary, which notice shall only be effective if received by the Beneficiary within a five (5) calendar day window commencing at 00:01 hours GMT on 1 De... |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | The Beneficiary may assign, transfer, or pledge all rights and benefits under this Guarantee to any successor entity, affiliate, or third-party financier, provided such assignment, transfer, or pledge is in writing and explicitly approved by both the Guarantor and Applicant prior to its effectiveness. |
You are a trade finance compliance expert specialising in ICC instruments (URDG 758, UCP 600, ISP 98). Your task is to correct erroneous bank guarantee and letter of credit clauses. Given a clause that contains an identified compliance violation, you must: (1) fix the specific violation described; (2) use precise ICC t... | These obligations shall survive the liquidation, administration, dissolution, or nationalisation of the Guarantor, and shall remain binding upon any successor entity or statutory administrator. However, the Beneficiary's entitlement to payment shall be subject to the applicable insolvency laws and regulations, and no m... |
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