A bank guarantee payable at first request is one in which the beneficiary does not have to provide any evidence that the terms of the underlying contract between the contractor and the beneficiary have not been met.

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A bank guarantee payable at first request, also known as a demand guarantee, is a type of guarantee in which the beneficiary can demand payment from the bank without having to provide any evidence that the contractor has failed to fulfill its obligations under the underlying contract. The bank is obligated to pay upon the beneficiary's first request, as long as the demand meets the terms and conditions of the guarantee.

A Bank Guarantee Payable at First Request Is One in Which