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Term Deposit Guarantee Template for Philippines

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Key Requirements PROMPT example:

Term Deposit Guarantee

"I need a Term Deposit Guarantee agreement for a PHP 50 million corporate deposit with ABC Bank, where XYZ Insurance Company will act as guarantor, with the deposit term starting March 1, 2025 for 12 months."

Document background
The Term Deposit Guarantee agreement is utilized in the Philippine banking sector when a depositor requires additional security for term deposits beyond standard deposit insurance coverage. This document, governed by Philippine law and banking regulations, establishes a three-way relationship between the bank, depositor, and guarantor. It is particularly relevant for corporate deposits, treasury operations, and high-value term deposits where additional security is required. The agreement must comply with BSP regulations, the General Banking Law, and other relevant Philippine banking legislation, while clearly defining the guarantee terms, trigger events, and enforcement mechanisms. The Term Deposit Guarantee provides an additional layer of security and is commonly used in corporate banking relationships and treasury management structures.
Suggested Sections

1. Parties: Identification of the depositor, bank, and guarantor(s)

2. Background: Context of the agreement and relationship between parties

3. Definitions and Interpretation: Definitions of key terms and interpretation rules

4. Deposit Terms: Specific details of the term deposit including amount, term, interest rate, and maturity

5. Guarantee Provisions: Scope and nature of the guarantee, including conditions and limitations

6. Guarantor's Obligations: Detailed obligations and responsibilities of the guarantor

7. Bank's Rights and Obligations: Rights and duties of the bank regarding the deposit and guarantee

8. Depositor's Representations and Warranties: Confirmations and promises made by the depositor

9. Regulatory Compliance: Compliance with Philippine banking laws and regulations

10. Events of Default: Circumstances constituting default and consequences

11. Enforcement: Procedures for enforcing the guarantee

12. Notices: Communication requirements and contact details

13. Governing Law and Jurisdiction: Application of Philippine law and jurisdiction details

14. General Provisions: Standard boilerplate clauses including amendments, severability, and entire agreement

Optional Sections

1. Multiple Guarantors: Additional provisions for cases involving more than one guarantor

2. Security Arrangements: Details of any additional security or collateral provided

3. Foreign Currency Provisions: Special provisions for deposits in foreign currencies

4. Tax Provisions: Specific tax arrangements and withholding requirements

5. Electronic Banking Provisions: Terms for electronic access and transactions

6. Assignment and Transfer: Rights and restrictions regarding transfer of deposit or guarantee obligations

Suggested Schedules

1. Schedule 1 - Deposit Details: Specific terms of the deposit including amount, duration, interest rate

2. Schedule 2 - Guarantee Amount and Coverage: Details of guarantee amount and specific coverage terms

3. Schedule 3 - Fee Schedule: Any fees payable in connection with the guarantee

4. Schedule 4 - Notice Details: Contact information and notice requirements for all parties

5. Schedule 5 - Conditions Precedent: List of documents and conditions required before agreement becomes effective

6. Appendix A - Form of Demand: Standard form for making a demand under the guarantee

7. Appendix B - Compliance Documents: Required regulatory compliance documents and certifications

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions












































Clauses



































Relevant Industries

Banking

Financial Services

Corporate Treasury

Investment Management

Insurance

Corporate Banking

Retail Banking

Financial Technology

Relevant Teams

Legal

Compliance

Treasury

Corporate Banking

Risk Management

Operations

Finance

Regulatory Affairs

Product Development

Credit Risk

Client Relations

Relevant Roles

Treasury Manager

Corporate Banking Officer

Compliance Officer

Legal Counsel

Risk Manager

Banking Operations Manager

Chief Financial Officer

Financial Controller

Relationship Manager

Credit Risk Officer

Banking Product Manager

Regulatory Affairs Officer

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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