Examples of Letter of Guarantee in a sentence
Personal check accompanied by a Bank Letter of Guarantee (see sample below).
Our liability under this Letter of Guarantee shall become null and void immediately upon its expiry, whether it is returned or not, and no claim may be made under this Letter after such expiry or after the aggregate of the sums paid by us to you shall equal the sums guaranteed under this Letter, whichever is the earlier.
In this case, prompt payment of the outstanding balance shall be secured by a Letter of Guarantee issued by another bank for the same amount plus a margin covering our Bank’s claim under the principal and the interest thereon for the entire period of the credit facility.
The Letter of Guarantee should be issued by a recognized Greek or foreign bank and should be equal to 10% of the reserve price.
Our liability under this Letter of Guarantee shall be to pay to you whichever is the lesser of the sum so requested or the amount then guaranteed under this Letter in respect of any demand duly made under this Letter prior to expiry of this Letter of Guarantee, without being entitled to inquire whether or not this payment is lawfully demanded.