保函格式.pdfVIP

Annex A EXAMPLE FORM OF PERFORMANCE SECURITY – SURETY BOND Brief description of Contract Name and address of Beneficiary (together with successors and assigns, all as defined in the Contract as the Employer). By this Bond, (name and address of contractor) (who is the contractor under such Contract) as Principal and (name and address of guarantor) as Guarantor are irrevocably held and firmly bound to the Beneficiary in the total amount of (the Bond Amount, say: ) for the due performance of all such Principals obligations and liabilities under the Contract. This Bond shall become effective on the Commencement Date defined in the Contract. Upon Default by the Principal to perform any Contractual Obligation, or upon the occurrence of any of the events and circumstances listed in sub-clause 15.2 of the conditions of the Contract, the Guarantor shall satisfy and discharge the damages sustained by the Beneficiary due to such Default, event or circumstances.(2) However, the total liability of the Guarantor shall not exceed the Bond Amount. The obligations and liabilities of the Guarantor shall not be discharged by any allowance of time or other indulgence whatsoever by the Beneficiary to the Principal, or by any variation or suspension of the works to be executed under the Contract, or by any amendments to the Contract or to the constitution of the Principal or the Beneficiary, or by any other matters, whether with or without the knowledge or consent of the Guarantor. Any claim under this Bond must be received by the Guarantor on or before (the expiry of the Defects Notification Period for the Works) (the Expiry Date), when this Bond shall expire and shall be returned to the Guarantor. The ben