Advance Payment Guarantee
[name and address of beneficiary]
We hereby issue our Guarantee as follows:
Our reference: GUA-
Date and place of expiry:
Detail of guarantee:
Under this contract it has been agreed that you are to make an advance payment in the amount of [currency and amount] against an advance payment guarantee.
Therefore we, Nykredit Bank A/S, Trade Finance, Kalvebod Brygge 1-3, DK-1780 Copenhagen V, Denmark at the request of our clients, irrespective of the validity and the legal effects of the above mentioned contract and waiving all rights of objection and defence arising from the above mentioned contract, hereby irrevocably undertake to pay you on your first demand, any amount up to the following maximum amount:
[currency] [amount] (in words: [amount in words])
upon receipt of your original duly signed demand for payment and your statement, whether in the demand itself or in a separate signed document accompanying or identifying the demand, indicating in what respect [name of our clients] did not fulfil their contractual obligations towards you.
For the purpose of identification, your demand for payment and your statement hereunder have to be presented through the intermediary of your bank confirming that the signatures thereon are legally binding upon you.
Your demand under this guarantee may be presented as from the crediting of [currency and amount] to our clients account [account number] maintained with us, provided such remittance identifies our guarantee number.
This guarantee shall automatically be reduced by any payment made by us under this guarantee.
Our guarantee is effective as of today and expires on [date], automatically and in full if your demand has not been received by us on or before that date.
For the sake of good order, please return this document to us when the guarantee is no longer required or immediately after the expiration of the guarantee.
This guarantee is governed by Danish law and the place of jurisdiction is Copenhagen, Denmark.
This guarantee is subject to the Uniform Rules for Demand Guarantees (URDG) 2010 Revision, ICC Publication No. 758.