Sample Performance Guarantee Agreement

This guarantee expires no later than December 15, 2014. On the other hand, a performance guarantee is issued by the winner of the offer after the signing of the tender contract. In addition, we understand that the terms of the contract require a performance guarantee. The bank guarantee refers to any signed obligation, which is mentioned or described, which provides for payment upon presentation of a corresponding debt. A performance guarantee (also known as a benefit obligation) protects the beneficiary from non-compliance by the client of his contractual obligations. On this page, you`ll find an example of a performance guarantee based on standard ICC needs guarantee forms. This guarantee is subject to the uniform rules for application guarantees, ICC publication 758. Recipient: Bihar Urban Infrastructure Development Corporation Ltd. Date:30 August 2014 #303, 3rd floor, Maurya Tower, Maurya Lok Complex, Budh Marg, Patna -800 001, Bihar India Please note that a tender guarantee is issued prior to the conclusion of the tendering agreement. Their request for payment must also be accompanied by the following documents: that the client does not comply with his obligations under the terms of the tender and that the client is violated. Proof of the identity certificate issued and signed by our branch in the recipient`s country or by one of our corresponding banks which is in the recipient`s country and which indicates that the bank has verified the recipient`s signatures that are displayed on the first request for payment. We have been informed that Daihon-dai Corporation. Tokyo, Japan (hereafter referred to as «the «client»), has entered into contract with you no.

2014/0001/Cnt of July 15, 2014 for the delivery of 1000 metric tons of stainless steel. At the request of the client, we the Tokyo International Bank of Commerce. You make an irrevocable commitment to pay you an amount or amount of up to $300,000.00 (for example. B $300,000) if you received your first written question and written statement, which states: . Therefore, any request for payment under this date must be sent to this office.