Common use of Guarantee Certificate Clause in Contracts

Guarantee Certificate. a document issued under the Bank Guarantee Agreement which sets forth conditions of the Bank Guarantee for the Beneficiary. Furthermore, the Bank is authorized to unilaterally, without agreement with the Customer, amend the text of the guarantee certificate unless such amendment changes main conditions of the Bank Guarantee. The term Customer in the Guarantee Certificate may be replaced with the term Principal or other term.

Guarantee Certificate. a document issued under the Bank Guarantee Agreement which sets forth conditions of the Bank Guarantee for the Beneficiary. Furthermore, the Bank is authorized to unilaterally, without agreement with the CustomerCustomer and/or the Principal, amend the text of the guarantee certificate unless such amendment changes main conditions of the Bank Guarantee. The term Customer Customer/Principal in the Guarantee Certificate may be replaced with the term Principal Principal/Customer or other term.