Bank Guarantee Draw Down Letters

A Bank Guarantee letter can either be for a release or a draw-down, a release letter is in cases where we have been informed that the Bank Requires a release letter to provide the BANK GUARANTEE back to the tenant, in some circumstance the Original Bank Guarantee has been lost by Dexus or the Tenant / Contractor

A Bank Guarantee Draw-down is where the tenant or contractor has failed to meet the requirements of their agreed upon terms therefor going into default requiring Dexus to draw-down on the funds as a way of obtaining owed money.

Note: Draw-downs made out to be partial, in this case you will need internal legal sing off.