SPECIMEN
GUARANTEE FOR CREDIT/ LOAN* REPAYMENT
day
Town/city
month
year
Name of Beneficiary
address
GUARANTEE NO. ………
……… (hereinafter referred to as “the Borrower”) placed the order for the issue in favour of ………
having its seat located in … … … (hereinafter referred to as “the Beneficiary”)
of a guarantee to the amount of ……… to secure timely repayment of credit/ loan* (hereinafter referred
to as “the Credit/ Loan”*) granted by the Beneficiary on the basis of and under terms and conditions
specified in the Credit/ Loan* Agreement dated ……… No. ……… of ……… (credit type) ……… for
the purpose of ……… (hereinafter referred to as “the Agreement”).
The Credit/ Loan* will be made available according to the following schedule:
on ……… in the amount of ………
on ……… in the amount of ………
on ……… in the amount of ………
Repayments of principal instalments under the Credit/Loan* will be made on the following dates and
in the following amounts:
on ……… in the amount of ………
on ……… in the amount of ………
on ……… in the amount of ………
The Credit/ Loan* interest will be calculated at interest rate of ……… % per annum and paid ……….
In view of the above, upon request of the Main Debtor, we, Bank Millennium Spółka Akcyjna, having
the registered Head Office located in Warsaw, ul. Stanisława Żaryna 2A, 02-593 Warszawa, entered
into the Register of Entrepreneurs of the National Court Register maintained by the Local Court for
the Capital City of Warsaw, XIII Business Division of the National Court Register under the number
KRS 0000010186, with Taxpayer Identification Number (NIP) - 526-021-29-31 and share capital,
fully paid up, in the amount of 1.213.116.777,00 PLN (hereinafter referred to as
“the Guarantor”), hereby issue our irrevocable and unconditional guarantee to secure repayment
of the Credit/ Loan* ……… (hereinafter referred to as the Guarantee) to the total amount of:
……… PLN/USD/EUR/CHF/GBP.
(amount and currency in words: ……… )
The payment hereunder shall be executed within the period of 7 (seven) business days following
the receipt, by the Guarantor, of, as follows:
1) the first written demand for payment submitted by the Beneficiary specifying the requested
amount and account number, to which such amount is to be transferred (hereinafter referred
to as “the Payment Demand”); and
2) the written statement by the Beneficiary confirming that the Beneficiary has made
the Credit/Loan* available to the Borrower and the Borrower has failed to make repayment
of the Credit/Loan* instalments (interest)* when due (hereinafter referred to as “the Statement
of the Beneficiary”).
The Payment Demand and the Statement of the Beneficiary may be submitted either as a single
document or two separate documents.
1/2
The Payment Demand and the Statement of the Beneficiary must be signed by persons duly
authorised to represent the Beneficiary and submitted to the Guarantor within the validity period
of the Guarantee, in its original copy by registered mail or courier service to the address: Bank ………
or via the Beneficiary’s bank by authenticated SWIFT message (SWIFT code: BIGBPLPW).
In case the Payment Demand is submitted by the SWIFT system, the Beneficiary’s bank must confirm
that it is in possession of the original documents mentioned in points 1-2 and in its SWIFT message
the bank shall exactly quote the wording of the Payment Demand and the Statement
of the Beneficiary and send all documents to the Guarantor forthwith.
Komentarz [MBS1]: Strona: 1
Nie dotyczy przypadku, gdy Beneficjentem
jest bank
Irrespective of the method of submission of the claim to the Guarantor, the Payment Demand and the
Statement of the Beneficiary must be accompanied by a confirmation of the Beneficiary’s bank stating
that these documents have been signed by persons duly authorised to represent
the Beneficiary.
Komentarz [MBS2]: Strona: 1
Nie dotyczy przypadku, gdy Beneficjentem
jest bank
Submission of the Payment Demand and the Statement of the Beneficiary not in compliance herewith
or failure to deliver the confirmation of the Beneficiary’s bank referred to above, shall constitute
grounds for the Guarantor to refuse to pay the demanded amount.
The liability amount under the Guarantee shall be reduced by the amount of any payment made
to the Beneficiary by the Borrower, third party or the Guarantor hereunder.
The Guarantee is valid until ……… and expires automatically and in full if the Payment Demand and
the Statement of the Beneficiary shall not have been submitted to the Guarantor in accordance with
terms of the Guarantee by that date.
Following the date of validity the Guarantee shall become irrelevant and invalid even if not returned
to the Guarantor.
Furthermore, the Guarantee expires automatically and in full under the following circumstances:
1) when payments executed by the Guarantor hereunder reach the Guarantee amount; or
2) when the original of this Guarantee is returned to the Guarantor prior to the Guarantee expiry
date.
In case of submission of a claim in compliance with terms and conditions hereof, the Guarantee shall
remain in force to the amount of that claim until its satisfaction in full or until resignation from it
(withdrawal of the Payment Demand) by the Beneficiary.
Assignment of the rights under the Guarantee is allowed only upon prior written consent
of the Guarantor.
The request to the Guarantor for consent to the assignment of the rights arising from
the Guarantee must be accompanied by the following additional documents::
1) written statement of the Assignor stating that the assignment of the rights resulting from
the Guarantee will be made with assignment of the receivables secured by the Guarantee or
2) draft of the Agreement of Assignment of the Rights arising from the Guarantee and
3) draft of the Agreement on Assignment of the Receivables secured by the Guarantee unless
this agreement is not required by the Agreement on the Assignment of the Rights arising from
the Guarantee.
The stipulations of the Guarantee concerning the method of the submission of the Payment Demand
applies to the assignment of rights arising from the Guarantee and receivables secured
by the Guarantee respectively.
(personal stamps, power of attorney nos. and signatures of persons duly
authorised to undertake liabilities on behalf of the Guarantor)
* pls choose proper option
2/2
Komentarz [ASW3]: Strona: 1
Nie dotyczy przypadku, gdy Beneficjentem
jest bank