������Ƶ

The Irrevocable Letter of Guarantee is a critical financial instrument used to provide security in commercial transactions under Swiss law. It is commonly used in international trade, construction projects, and various commercial arrangements where one party requires financial security for the performance of contractual obligations. The document represents an independent payment undertaking by a bank or financial institution, typically issued at the request of their client (the principal debtor) in favor of a third party (the beneficiary). The guarantee's irrevocable nature means it cannot be modified or cancelled without the beneficiary's consent, providing robust security. Swiss law, particularly the Code of Obligations and Banking Law, provides a well-established legal framework for such guarantees, making them highly regarded in international commerce due to Switzerland's reputation for financial stability and legal certainty.

1. Letterhead and Date: Official letterhead of the guarantor (typically a bank) and date of issuance

2. Beneficiary Details: Full name and address of the beneficiary of the guarantee

3. Guarantee Reference Number: Unique identification number of the guarantee

4. Title and Guarantee Amount: Clear statement that this is an irrevocable guarantee and the maximum amount guaranteed, both in figures and words

5. Underlying Relationship: Reference to the underlying contract or obligation being guaranteed

6. Principal Debtor Details: Full identification of the principal debtor whose obligations are being guaranteed

7. Guarantee Terms: Specific conditions under which the guarantee can be called, including any required documentation

8. Payment Terms: Timeline and process for payment upon valid demand

9. Expiry Terms: Validity period of the guarantee and conditions for expiry

10. Governing Law and Jurisdiction: Explicit statement of Swiss law governance and jurisdiction

11. Authentication: Authorized signatures and any required stamps or seals