Common use of Advising Bank Clause in Contracts

Advising Bank. a banking institution specified in the Bank Guarantee Agreement providing service to the Beneficiary and/or a banking institution based in the Beneficiary’s country, which in case of receiving the Guarantee Notice from the Bank establishes its authenticity and ensures provision of information about opening the Bank Guarantee to the Beneficiary.

Advising Bank. a banking institution specified in the Bank Guarantee Letter of Credit Agreement providing service to the Beneficiary and/or a banking institution based in the Beneficiary’s country, which in case of receiving the Guarantee Notice Letter of Credit Order from the Bank establishes its authenticity and ensures provision of information about opening the Bank Guarantee Letter of Credit to the Beneficiary.

Advising Bank. a banking institution specified in the Bank Guarantee Stand-By Letter of Credit Agreement providing service to the Beneficiary and/or a banking institution based in the Beneficiary’s country, which in case of receiving the Guarantee Notice Stand-by Letter of Credit Assignment from the Bank establishes its authenticity and ensures provision of information about opening the Bank Guarantee Stand-by Letter of Credit to the Beneficiary.

Advising Bank. a banking institution specified indicated in the Bank Guarantee Agreement, Letter of Credit Agreement and/or Stand-By Letter of Credit Agreement providing service to the Beneficiary and/or a banking institution based in the Beneficiary’s country, which in case of receiving the Guarantee Notice Certificate, Letter of Credit Order and/or Stand-by Letter of Credit Order from the Bank establishes its authenticity and ensures provision of information about opening the Bank Guarantee Guarantee, Letter of Credit and/or Stand-by Letter of Credit to the Beneficiary.