Template for English Advance Payment Guarantees
Advance payment guarantees are often required in international transactions to provide a level of security for the buyer. In this article, we will provide you with a template for an English advance payment guarantee that can be used as a starting point.
Advance Payment Guarantee
According to the terms and conditions of the sales contract signed between [Buyer Name] ("Buyer") and [Seller Name] ("Seller"), Buyer is required to make an advance payment amounting to [Amount in words] ([Amount in numbers]) as specified in the contract. In order to secure this advance payment, Seller requests that Buyer obtain a guarantee.
Party Details:
Buyer:
Name: [Buyer Name]
Address: [Buyer Address]
Contact Person: [Buyer Contact Person]
Contact Email: [Buyer Email]
Contact Phone: [Buyer Phone]
Seller:
Name: [Seller Name]
Address: [Seller Address]
Contact Person: [Seller Contact Person]
Contact Email: [Seller Email]
Contact Phone: [Seller Phone]
Guarantee Details:
Guarantor:
Name: [Guarantor Name]
Address: [Guarantor Address]
Contact Person: [Guarantor Contact Person]
Contact Email: [Guarantor Email]
Contact Phone: [Guarantor Phone]
Guarantee Amount:
The guarantor agrees to provide an advance payment guarantee in the amount of [Amount in words] ([Amount in numbers]) to the Seller, on behalf of the Buyer, as specified in the sales contract between Buyer and Seller.
Terms and Conditions:
The Guarantee shall be valid until [Expiry Date], unless otherwise agreed upon by all parties involved. The guarantee shall only be enforceable upon written notice from Seller in case of default or non-compliance with the terms of the sales contract.
Applicable Law and Jurisdiction:
This guarantee shall be governed by and construed in accordance with English law. Any disputes arising out of or in connection with this guarantee shall be subject to the exclusive jurisdiction of the English courts.
Liability and Indemnity:
The guarantor shall indemnify and hold harmless the Seller from any losses, damages, costs, or expenses incurred due to any failure or delay in payment by the Buyer under the terms of the sales contract.
IN WITNESS WHEREOF, the undersigned have executed this Advance Payment Guarantee as of the date first above written.
[Guarantor Name]
Authorized Signatory
[Date]
[Buyer Name]
Authorized Signatory
[Date]
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