B A N K  G U A R A N T E E S
 

With effect from July 1st, 2010 cash backed, bank guarantees are again available to credit-worthy applicants. 

Your Guarantee is written with you as the beneficiary. It must be surrendered, unencumbered and clear at the end of the term and your bank may be required to give an undertaking to this effect. Meanwhile, it can be used for a variety of purposes but care must be taken to ensure that it is not abused nor misrepresented to third parties.

General Outline Terms and Conditions:

Capital Sum Limits:	50 - 200 million, Euros or USD. Larger amount may be available in exceptional circumstances.
Term and Renewals:	One to three years. Renewals dependent upon use and availability.
Issuing Bank:	International Bank rated "Aa2" / "AA". Issued from the London head office.
Arrangement Fee:	15% - 18% for one year; 20% - 22% for three years. Dependent upon use, amount and applicant's credit profile.
Payment:	The full amount of the fee must be lodged in an acceptable escrow or held by a UK law firm giving an unequivocal payment undertaking. Terms to be agreed. The applicant to instruct.
Instalment Fees:	Not available for this facility.
Introducer Commissions:	To be added to the above Arrangement Fee. Maximum permitted introducer's fee payable: 0.5%
Applications:	In the first instance please provide us with details of the amount and term required and the use to which it is to be put.  If to be used as collateral for a loan then your confirmation that the lender is aware of and agreeable to the proposed arrangement. Please also provide the identity and location of your receiving bank.