Nordea Accessory Model
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2012-01-24 Nordea accessory model (for information purpose only)
ADVANCE PAYMENT GUARANTEE
Guarantee no.: [guarantee number]
Beneficiary: [name and address]
Applicant: [name and address]
Expiry Date: [insert expiry date]
Guarantee Amount: [currency] [guarantee amount in figures] [currency] [Guarantee amount in letters]
Underlying relationship: Contract No …………… dated ……………., for the supply of …………………………[description of goods/services] (the “Contract”)
We have been informed that the Applicant has entered into the Contract with you.
Furthermore, we understand that, according to the conditions of the Contract, an advance payment in the sum of ………. [representing ..% of the amount of the Con- tract] is to be made against an advance payment guarantee.
As guarantor we, (name of the bank), hereby guarantee towards you, as for our own debt, the due and punctual fulfilment of the payment obligations assumed by the Applicant to repay, in whole or in part, the above advance payment in accord- ance with the provisions of the Contract. However, we shall not by reason of this guarantee be liable to pay to you more in aggregate than the Guarantee Amount.
Optional Clause: In case of disagreement between the Applicant and the Beneficiary regarding the underlying relationship, payment under this guarantee may be postponed pending amicable agreement, arbitration or final judgement in court.
Place for presentation: [address]
This guarantee shall expire on the Expiry Date at the latest.
Consequently, any demand under it must be received by us at the place for presentation indicated above on or before the Expiry Date. The original of this guar- antee shall be returned to us upon expiry. However, after our payment of the whole of the Guarantee Amount or the Expiry Date, whichever comes first, this guarantee will become null and void, whether returned to us or not.
This guarantee is governed by and construed in accordance with [country] law and shall be subject to the jurisdiction [relevant court].
Nordea Bank [relevant country] General information [date]
Due to sanctions decided upon by the UN Security Council and USA, and regulations imposed by EU and local law, Nordea disclaims liability for any delay, non-return of documents, non-payment or other action or inaction compelled by law or regulation, a judicial order or a government regulation applicable to us.
This attachment is for information purposes only and not part of the terms and conditions if the guarantee.