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1. Parties: Identification of the guarantor bank, the principal (employer), and the beneficiary (employee)
2. Background: Context of the employment relationship and purpose of the guarantee
3. Definitions: Key terms used in the guarantee, including 'Guaranteed Amount', 'Guarantee Period', and 'Triggering Events'
4. Guarantee Amount: Specification of the maximum amount covered by the bank guarantee
5. Scope of Guarantee: Detailed description of what obligations are covered by the guarantee
6. Duration: Term of the guarantee, including start date and expiry conditions
7. Claim Procedure: Process and requirements for making a claim under the guarantee
8. Bank's Obligations: Specific obligations of the bank upon receipt of a valid claim
9. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Counter-Indemnity: Terms under which the employer must reimburse the bank, included when required by bank policy
2. Assignment Restrictions: Provisions restricting the transfer or assignment of rights under the guarantee, included when assignability needs to be limited
3. Multiple Beneficiaries: Additional provisions for cases where multiple employees are covered by the same guarantee
4. Currency Provisions: Specific provisions for guarantees involving foreign currency, included for international employment relationships
5. Force Majeure: Provisions dealing with extraordinary circumstances, included when specifically requested by parties
1. Schedule 1 - Form of Demand: Template for making a valid claim under the guarantee
2. Schedule 2 - Employment Contract Reference: Details of the underlying employment contract covered by the guarantee
3. Schedule 3 - Authorized Signatories: List of persons authorized to make claims under the guarantee
4. Appendix A - Calculation of Guaranteed Amount: Detailed breakdown of how the guaranteed amount is calculated
5. Appendix B - Bank's Standard Terms: Standard terms and conditions of the guarantor bank applicable to the guarantee
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