Format of a Bank Guarantee
Bank guarantee format.
If you wish to monetise a bank guarantee it need to have the format of a “Demand Bank Guarantee”.
A Bank Guarantee can take many different formats, however, when dealing with Bank Guarantees for monetisation, the Demand Bank Guarantee is utilised. The Demand Bank Guarantee is governed by ICC Uniform Rules for Demand Guarantees (URDG 758) and has a very precise and strict format. When sighted by a bank, lending institution, or any other third-party lender, the extensive documentation will leave them in no doubt that the Bank Guarantee has been issued solely for monetisation.
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