Gard is required by law to ensure that every financial transaction we carry out is with the correct counterparty in the counterparty’s country of operations. This requirement applies to all transactions.

The counterparty’s name and country must match with the bank account’s name and country for the transaction to be carried out.

For an exception to be made to the above, we are required by law to document as to why a transaction is made to a different account than what Gard and the counterparty had previously agreed to or why the bank account is situated in a different country than the counterparty’s operation. A letter from the bank confirming ownership of or authority to access the actual bank account is required for this. The bank’s confirmation must include the counterparty’s full legal entity name and country. The confirmation also cannot be more than 12 months since it was issued.