UBS AG has issued a payment guarantee to Example AG for a contract between Example AG and an unnamed company. The guarantee secures payment of up to a specified percentage of the total contract price for goods supplied. UBS will pay Example AG upon their first written demand, so long as Example AG has supplied the goods in accordance with the contract terms and not received payment by the due date. The written demand must contain Example AG's signature, verified by a correspondent bank of UBS. The guarantee is valid until a specified date, at which point it will expire if a payment demand has not been received by UBS.
UBS AG has issued a payment guarantee to Example AG for a contract between Example AG and an unnamed company. The guarantee secures payment of up to a specified percentage of the total contract price for goods supplied. UBS will pay Example AG upon their first written demand, so long as Example AG has supplied the goods in accordance with the contract terms and not received payment by the due date. The written demand must contain Example AG's signature, verified by a correspondent bank of UBS. The guarantee is valid until a specified date, at which point it will expire if a payment demand has not been received by UBS.
UBS AG has issued a payment guarantee to Example AG for a contract between Example AG and an unnamed company. The guarantee secures payment of up to a specified percentage of the total contract price for goods supplied. UBS will pay Example AG upon their first written demand, so long as Example AG has supplied the goods in accordance with the contract terms and not received payment by the due date. The written demand must contain Example AG's signature, verified by a correspondent bank of UBS. The guarantee is valid until a specified date, at which point it will expire if a payment demand has not been received by UBS.
UBS AG has issued a payment guarantee to Example AG for a contract between Example AG and an unnamed company. The guarantee secures payment of up to a specified percentage of the total contract price for goods supplied. UBS will pay Example AG upon their first written demand, so long as Example AG has supplied the goods in accordance with the contract terms and not received payment by the due date. The written demand must contain Example AG's signature, verified by a correspondent bank of UBS. The guarantee is valid until a specified date, at which point it will expire if a payment demand has not been received by UBS.
Payment guarantee UBS AG Trade Finance Guarantees P.O. Box CH-8098 Zurich Tel. +41-44-234 11 11 Example AG P.O. Box 26 May 20xx CH-8000 Zurich
Amount
(in words )
We have been informed that you concluded on a contract no. with
for at a total price of . According to this contract, payment of the goods supplied, up to ( % of the total price), has to be secured by a bank guarantee.
This being stated, we, UBS AG, , irrespective of the validity and the legal effects of the above mentioned contract and waiving all rights of objection and defense arising therefrom, hereby irrevocably undertake to pay to you, upon your first demand, any amount up to the above mentioned maximum amount, upon receipt of
your duly signed request for payment in original stating that
a) you have supplied with the goods ordered in conformity with the terms of the contract and
b) you have not received payment at the due date in the amount claimed under this guarantee.
For the purpose of identification your written request for payment must bear or be accompanied by a signed confirmation of one of our correspondent banks stating that the latter has verified your signature(s) appearing on the said request for payment.
Your claim is also acceptable if transmitted to us in full by authenticated SWIFT through one of our correspondent banks confirming that your original claim has been forwarded to us by registered mail or courier service and that the said bank has verified your signature(s) appearing thereon.
In case that at the time of a request for payment under this guarantee, there is a valid list of authorized signatures with a branch of UBS AG in Switzerland regarding the persons signing for you, the verification of signature(s) by a third bank is not required. In such case, your request for payment must be presented to us duly signed in writing (SWIFT excluded).
Our guarantee is valid until
and expires in full and automatically, should your original written request for payment or the authenticated SWIFT not be in our possession at our above address on or before that date, regardless of such date being a banking day or not.
Our guarantee will be reduced by each payment made by us as a result of a claim.
55550E 10.2009 Page 2 of 2
This guarantee is governed by Swiss law, place of jurisdiction and performance is .
