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Approved BG Mt760 Template

This document is a confirmation of a bank guarantee (MT760) issued by HSBC Holdings PLC on behalf of Insight Asia Investment Limited for the benefit of Al Marsan for General Construction Contracting Co., Ltd. The guarantee amounts to $205 million and is fully assignable and transferable without fees. It is governed by ICC rules and is verifiable via SWIFT communication.

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0% found this document useful (0 votes)
466 views2 pages

Approved BG Mt760 Template

This document is a confirmation of a bank guarantee (MT760) issued by HSBC Holdings PLC on behalf of Insight Asia Investment Limited for the benefit of Al Marsan for General Construction Contracting Co., Ltd. The guarantee amounts to $205 million and is fully assignable and transferable without fees. It is governed by ICC rules and is verifiable via SWIFT communication.

Uploaded by

sahib
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd

CONFIRMATION OF MT760 BG VERBIAGE

SENDER

BANK NAME : HSBC HOLDINGS PLC


BANK ADDRESS : 8 CANADA SQUARE, LONDON E14 5HQ UNITED KINGDOM SWIFT
CODE : MIDLGB22
APPLICANT NAME : INSIGHT ASIA INVESTMENT LIMITED
COMPANY NUMBER : 1102898
APPLICANT ADDRESS : ROOM1605, BEVERLY HOUSE, 97 LOCKHART ROAD, HONG KONG
ACCOUNT NUMBER : M16-30970-13360881
IBAN NUMBER : ECHM16-30970-13360881 BANK
GUARANTEE NO. : 63392
BANK OFFICERS : MR GEORGES ELHEDERY (GROUP CHIEF FINANCIAL OFFICER)

RECEIVER

BANK NAME : AL RAJHI BANK


BANK ADDRESS : GLOBAL TRADE SERVICES CENTER, AL RAJHI BANK AL MURJANAH TOWER, 8125 PRINCE
SULTAN RD, AR RAWDAH DISTRICT, JEDDAH 23435, FLOOR NO.1, L/C JEDDAH 491 - KSA
SWIFT CODE : RJHISARI
ACCOUNT NAME : AL MARSAN FOR GENERAL CONSTRUCTION CONTRACTING CO., LTD
ACCOUNT NUMBER : SA6080000314608016128515
BANK OFFICERS : MR. SUHAIL ALQARNI
BANK OFFICER EMAIL : TRADEIUW@ALRAJHIBANK.COM

DRAFT TEXT OF SWIFT MT760 BG BLOCKED/ASSIGNED/TRANSFERRED CONFIRMATION

REF.: CONTRACT NUMBER: XXXXX

WE, HSBC HOLDINGS PLC, ADDRESS AT 8 CANADA SQUARE, LONDON E14 5HQ UNITED KINGDOM, ON BEHALF
OF OUR CLIENT: INSIGHT ASIA INVESTMENT LIMITED, WITH ACCOUNT NUMBER: M16-30970- 13360881 IN
REFERENCE TO THE CONTRACT NO.: XXXXX BETWEEN xxxxx AND xxxxx. HEREBY TRANSMIT THIS
COMMUNICATION TO CERTIFY, CONFIRM AND GUARANTEE WITH FULL BANK RESPONSIBILITY THAT WE
PROMISE TO PAY WITHOUT PROTEST THE BANK GUARANTEE ISSUED BANK GURANTEE NUMBER 63392,
IN FAVOUR OF YOUR CLIENT NAMED AL MARSAN FOR GENERAL CONSTRUCTION CONTRACTING CO., LTD, WITH
ACCOUNT NUMBER: SA6080000314608016128515, DATE OF ISSUE: . DATE OF MATURITY: . THE SUM OF
TWO HUNDRED AND FIVE MILLION UNITED STATES DOLLARS ($ 205,000,000.00), ALL RIGHTS ARISING FROM
THIS SWIFT CONFIRMATION AND REPRESENTED THEREBY SHALL BE FREELY ASSIGNABLE AND TRANSFERABLE
WITHOUT PAYMENT OF ANY TRANSFER FEE AND NEED FOR NOTIFICATION TO THIS ISSUING BANK.
THIS INSTRUMENT IS FREELY AVAILABLE WITH FULL OWNERSHIP RIGHTS TO THE BENEFICIARY: AL MARSAN
FOR GENERAL CONSTRUCTION CONTRACTING CO., LTD. AND ITS ASSIGNS AND MAY BE PLEDGED AS
COLLATERAL TO ANY CREDIT OR BANKING FACILITY, FOR WHICH EXTENDED PURPOSE AND UNDERTAKING
SHALL BE NEGOTIABLE, ASSIGNABLE, TRANSFERABLE, AND DIVISIBLE IN REFERENCE TO THE ABOVE CONTRACT
NO XXXXX.

WE, HSBC HOLDINGS PLC, ADDRESS AT 8 CANADA SQUARE, LONDON E14 5HQ, UNITED KINGDOM, WITH FULL
BANK RESPONSIBILITY, ALSO HEREBY IRREVOCABLY AND UNCONDITIONALLY WITHOUT PROTEST OR
NOTIFICATION UNDERTAKE TO PAY OUT OF THE FACE VALUE OF THIS BANK GUARANTEE (BG) AT MATURITY,
AT THE COUNTER OF HSBC HOLDINGS PLC, ADDRESS AT 8 CANADA SQUARE, LONDON E14 5HQ, UNITED
KINGDOM.

THIS BANK GUARANTEE IS CONSTRUED AND ISSUED IN ACCORDANCE WITH THE RULES, REGULATIONS AND
PRACTICES AS SET FORTH BY THE INTERNATIONAL CHAMBER OF COMMERCE (ICC), PARIS, FRANCE, LATEST
REVISION OF PUBLICATION 758.

THIS INSTRUMENT IS VERIFIABLE AND CONFIRMABLE ON A BANK-TO-BANK BASIS VIA SWIFT


COMMUNICATION WITH FULL BANK RESPONSIBILITY AND LIABILITY. NO MAIL, EMAIL OR PHONE CALL
CONFIRMATION WILL FOLLOW. NO HARD COPY OF THIS INSTRUMENT WILL BE PROVIDED.

FOR AND ON BEHALF OF HSBC HOLDINGS PLC


8 CANADA SQUARE, E14 5HQ, UNITED KINGDOM

AUTHORISED BANKER (1) AUTHORISED BANKER (2)


NAME, TITLE & PIN CODE NAME, TITLE & PIN CODE

APPROVED BY THE DIRECTOR


MR. KHALID MOHAMMED ASIRI

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