Bank Guarantee UK bank guarantee provides the beneficiary with access to a sum of money if the principal (you) fails to fulfil contractual or other obligations in respect of an underlying transaction, contract or order. The wording is a matter for negotiation between the Applicant (you) and the Beneficiary (your customer), subject to acceptability by HSBC. A selection of sample wording can be provided on your request and we can provide information on using the ICC URDG458 (International Chamber of Commerce, Uniform Rules for Demand Guarantees).