Application for Issuance of

Letter of Guarantee

Reference No. Date

Region

To, Siraj Finance PJSC

Dear Sir/Madam,

I/We request you to issue a letter of guarantee as per the details below:
Bene iciary Name and Address

Guarantee Amount: AED

Guarantee Amount in Words: AED

Guarantee Amount in igure and Words: (if other than AED)

Purpose of Guarantee Issuance

Type of Guarantee
Financial Guarantee Bid Bond / Tender Bond Performance Bond
Advance Payment Bond Retention Money Guarantee Maintenance Guarantee
Others

Format of Guarantee
SF’s Standard Format As per attached format (subject to SF’s Sharia Committee approval)

Validity
✔ Start Date ✔ Expiry Date Auto Renewable
Open Ended Expiry on and additional validity of days to accept
claims from bene iciary/ inancial institution (if required).

Issuance Instructions
✔ Local issuance
Issue by S.W.I.F.T. through your bank to bene iciary and to be advised through advising/corresponding
inancial institution.
Issuance by your bank’s correspondent inancial institution(s) against your counter guarantee and we accept
all terms, conditions, indemnities, applicable laws, jurisdiction and extra validities required by them in your
counter guarantee.

Delivery instruction
✔ Our Representative or Bene iciaries Representative
Name
Courier Address /Contact Name & Address

Collateral:
100% cash margin or FD/UL ✔ As per facility terms and conditions

Page 1 of 3
Other Instructions
Customers/Applicants Name
Of ice Address
Trade License Number Expiry Date
Telephone Number Email id
SF Account Number
Bank Account Number Account Type

IBAN A E

Please issue the guarantee on our behalf on behalf of the following Third Party (Name and Address)
✔

I/we hereby certify that the information provided in this application is true, correct and complete to the best of my/our
knowledge and belief and agree to the terms and conditions stated below.

Authorized Signatory Authorized Signatory

Terms and Conditions

1) By signing this application (I/We)herein referred as "we" which terms represents ourselves and our accredited
representatives or our assignee (s) or successors and legal heirs and it is understood that we shall remain entirely
responsible to "you" (which term represents Siraj Finance PJSC and it's accredit representatives and assignees) and
hereby indemnify you against all consequences (excluding opportunity cost, cost of funding and interest of any
nature) whatsoever, direct or indirect, resulting from the issue of your Guarantees at our request on behalf of
ourselves or on behalf of any 3rd party or joint ventures and including but not limited to any amendments,
modi ication, extension, increase, decrease reissuance request by us or by bene iciary or bene iciaries authorized
representative or assignees and hereby authorize you to act on our behalf with the bene iciary of this Guarantees.
I/we further declare that our obligations toward Siraj Finance PJSC are primary obligation and independent in nature
from any current or future obligation or commitment to any other parties.
2) We hereby irrevocably and unconditionally authorize Siraj Finance PJSC to extend the Guarantees upon receipt of irst
written request from the bene iciary without our prior consent or to pay to the bene iciary the guaranteed amount if
the guarantee is not extended.
3) We authorize Siraj Finance PJSC to immediately block the funds in our account(s) and all other related account(s) for
an amount(s) equal to the full amount(s) of the Guarantees and in addition Siraj Finance PJSC will have the right at any
time and without our prior written consent to debit our account(s) and all other related accounts with all payments
which Siraj Finance PJSC may make in connection with Siraj Finance PJSC 's Guarantees, and to debit our account(s)
and all other related accounts with the full amount of Siraj Finance PJSC Guarantees at any time until the return of the
original Guarantees to Siraj Finance PJSC for cancellation thereof or until Siraj Finance PJSC receive a con irmation to
Siraj Finance PJSC 's satisfaction that the Guarantees has been treated as cancelled by the bene iciary and to hold such
amount as security against our liability towards Siraj Finance PJSC in connection with the Guarantees until our
liability to Siraj Finance PJSC in respect thereof is fully discharged to Siraj Finance PJSC 's satisfaction.
4) We hereby authorize Siraj Finance PJSC to debit our account(s) and all other related accounts for the service charges
for the issuance of the Guarantees and any other fee on a periodical basis the agreed security/ margin if any, and the
Courier, Telex. Swift charges for Siraj Finance PJSC or for Siraj Finance PJSC’s correspondent inancial institutions or
any other incidental charges fees and/or out of pocket expenses that Siraj Finance PJSC may properly incur as a result
of issuing the Guarantees of thereafter during its validity or after it is cancelled.

Page 2 of 3
5) All our current accounts, saving accounts, deposits, funds or investments with Siraj Finance PJSC’s branch or
branches, whether these are funds, securities. Sukuk or any other -investments in any form whatsoever, will be held in
safe custody as a security towards Siraj Finance PJSC’s obligations under the Guarantees until its cancellation.
6) We hereby undertake to provide Siraj Finance PJSC with full cover for the Guarantees amount(s) and expenses that
Siraj Finance PJSC may properly incur. Accordingly we promise to pay such amount(s} to Siraj Finance PJSC
immediately upon receipt of Siraj Finance PJSC 's written demand, either through mail, electronic mail or facsimile, in
cash or in any form acceptable to Siraj Finance PJSC without any objection from our part.
7) We further declare that this agreement shall not be affected by my death (if the Applicant is an individual) or my/our
liquidation or bankruptcy or dissolution (if the Applicant is a corporate entity/ irm/partnership) but shall remain in
full force and effect and shall continue to be binding notwithstanding any changes which may from time to time take
place by death or otherwise however in the partners or constitution of my/our irm/company and/or inancial
institution and that this agreement does not supersede but is in addition to any letter of pledge/ hypothecation and /
or other documents already signed or which may hereafter be signed by me/us in Siraj Finance PJSC 's favor.
8) We further declare that should we submit our request for issuance of any guarantee the validity of which is renewed
automatically or with an open ended validity, we agree that such guarantees will not be cancelled unless the original
inancial institution Guarantee instrument and amendment(s) if any are return back to Siraj Finance PJSC for
cancellation or upon receipt by Siraj Finance PJSC the of icial letter from bene iciary to cancel Siraj Finance PJSC's
guarantee and releasing Siraj Finance PJSC from Siraj Finance PJSC obligation thereunder and until then we are liable
to honor bene iciaries claim received by Siraj Finance PJSC along with all applicable fee & charges, expenses due and
payable to Siraj Finance PJSC or to any other intermediary parties in relation with such guarantees.
9) We further declare that should an intermediary/ correspondent inancial institution be involved in the issuance of
the letter of guarantee or counter guarantee is requesting Siraj Finance PJSC to issue Siraj Finance PJSC’s counter
guarantee in their favor as per their text then we indemnify Siraj Finance PJSC for any liability(ies) or obligation(s)
caused by Siraj Finance PJSC using that counter guarantee text including but not limited to extra validity provided to
correspondent/intermediary bank or an indemnity covering the correspondent/ intermediary inancial institutions
(s) against any loses/ damages.
10) We further declare that should an advance payment guarantee be issued by Siraj Finance PJSC without an operative
clause as per our request then we con irm our agreement that receipt of advance payment proceed fails under our
responsibility and the advance payment guarantee will be operative from date of issuance and claims if any will be
accepted accordingly.
11) We further declare that should an advance payment guarantee to be issued by Siraj Finance PJSC with an operative
clause without specifying an account number to which the advance payment guarantee proceeds shall be credited as
per our request then we con irm our agreement that receipt of such advance payment proceeds fails under our
responsibility and claims from bene iciary (if any) will be accepted by Siraj Finance PJSC as presented by the
bene iciary without any requirement by Siraj Finance PJSC for further veri ication that advance payment has been
paid to us and in case the advance payment proceed received by Siraj Finance PJSC then claims from bene iciary (if
any) will be accepted up to the extent of amounts received as per Siraj Finance PJSC 's records.
12) We further declare that the letter of Guarantees or counter guarantee issued at our request will be subject to the
uniform rules of demand guarantees (URGD 758) and will be governed by and construed with the laws of the emirate
of Abu Dhabi and applicable federal laws of United Arab Emirates at Siraj Finance PJSC’s discretion, These courts will
have the full jurisdiction to determine any dispute that may arise in connection with the Letter of Guarantees or
counter guarantee. Also, we further declare that governing laws and court of jurisdiction may be amended as agreed
on case to case basis.
13) We hereby undertake that post issuance of this guarantee, in the event of guarantee claim by the bene iciary, we will
pay/settle the claimed amount (in full) to Siraj Finance PJSC from our own sources, within ive (5) days post irst
written demand by Siraj Finance PJSC, which is paid/to be paid by Siraj Finance PJSC to the bene iciary against the
claim. we further acknowledge that Siraj Finance PJSC reserves the right to take appropriate legal action against us, in
case of non-payment/settlement of the due amount to Siraj Finance PJSC.

Submit by Email Page 3 of 3 Print Form