Payment Guarantee Agreement for Singapore
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Payment Guarantee Agreement
"I need a Payment Guarantee Agreement under Singapore law where our parent company guarantees payment obligations of $5 million SGD for our subsidiary's construction project, with the guarantee period running until March 2025."
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1. Parties: Identifies and defines the guarantor, beneficiary, and principal debtor
2. Background: Explains the context of the underlying transaction and reason for guarantee
3. Definitions: Defines key terms used throughout the agreement
4. Guarantee and Indemnity: Core provisions detailing the guarantee obligations
5. Scope of Guarantee: Specifies exactly what obligations are being guaranteed
6. Payment Terms: Details when and how payments under the guarantee must be made
7. Duration: Specifies the term of the guarantee
8. Governing Law: Specifies Singapore law as governing law
1. Security Provisions: Additional security arrangements - use when additional security is required
2. Assignment: Rights to assign the guarantee - use when assignment rights are needed
3. Counter-Indemnity: Provisions for indemnifying the guarantor - use when guarantor requires protection
4. Multiple Guarantors: Provisions for joint and several liability - use when there is more than one guarantor
1. Schedule of Guaranteed Obligations: Detailed list of obligations covered by the guarantee
2. Form of Demand: Template for making demands under the guarantee
3. Corporate Authorizations: Copies of relevant corporate approvals and resolutions
4. Security Documents: Any related security documentation (if additional security is provided)
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