Bank Guarantee Fee definition
Examples of Bank Guarantee Fee in a sentence
For so long as Rabobank has any contingent liability under a Bank Guarantee, the Account Owner must pay the Bank Guarantee Fee to Rabobank calculated daily at the rate specified in the Letter of Offer or, if no rate is so specified, the Variable Rate plus the Margin, on the amount of the contingent liability.
At a Loan Pricing Review, Rabobank may review the Margin, Undrawn Loan Fee and Bank Guarantee Fee conforming with Rabobank’s policies relating to lending.
The amount of the Bank Guarantee Fee debited on an Interest Payment Date is the sum of the daily amounts of the fee calculated in accordance with this clause for the period commencing on the day that a Bank Guarantee is first issued under the Facility (in the case of the first debit of this fee) or on the previous Interest Payment Date, and ending on the day before the Interest Payment Date on which the amount is to be debited.
If Rabobank varies the terms and conditions applying to the Facility pursuant to a Loan Conditions Review, or if Rabobank varies the Margin, Undrawn Loan Fee or Bank Guarantee Fee pursuant to a Loan Pricing Review, then Rabobank will provide the Account Owner with a notice specifying the variations, which will come into effect one month from the date of the Loan Conditions Review or the Loan Pricing Review.
The Bank Guarantee Fee may also be debited on the last day of the Loan Period, or immediately before the Facility is repaid or cancelled, the Loan Limit is reduced to zero or Rabobank demands or requires repayment of the Facility in accordance with the Facility Agreement.
B) Should a Bank Guarantee be requested we will charge a Bank Guarantee Fee of 1.5% per annum plus a fixed charge of $100.00 per transaction.