According to No.Contract (hereafter referred to as “Contract”)
signed between you and the
applicant______ (hereafter referred to as
contract-signing placeon theday of , 20, we, the Bank, hereby issue the Performance Guarantee in favor
of the beneficiary, and undertake to pay you any sum or sums not exceeding
in total an amount of _________________ (currency type, in words),
of contract value, to guarantee the applicant will perform the obligations
under the contract on schedule.
In the case that the Applicant cannot
fulfill its obligations under the Contract on schedule, we will pay the
amount recorded in the notice of claim to you within 7 bank working days
upon receiving the documents that conform to the following conditions.
However, the amount of one single claim or the total amount of all claims in
the notice(s) of claim(s) shall not exceed the maximum amount of this
Performance Guarantee. The responsibilities of our bank under this
Performance Guarantee are subject to the maximum guaranteed amount.
Claim documents: (1) Notice of Claim
signed by the legal representative of your party or authorized
representative by this legal representative; (2) Statement of Default signed
by the legal representative of your party or authorized representative by
this legal representative;
The maximum amount guaranteed under
this Performance Guarantee shall be reduced automatically and progressively
as the completion percentage of the Contract increases. Our responsibilities
under this Performance Guarantee shall not exceed ％
of the amount that equals to the obligations not fulfilled under the
Contract. The completion progress of the Contract shall be subject to the
certificate we receive issued by independent third party.
This Guarantee takes effect on the
date of being signed, and expires on theday of , 20 . Any claim
must be received by us before or on the expiration date. After the
expiration date, whether the original copy of this Guarantee is returned to
us or not, this Guarantee becomes invalid automatically.
Without our written permit, the
guarantee obligations of us shall be ceased if you and the applicant agree
to modify the Contract or the appendixes thereof.
Without the consent of our Bank, this
Guarantee shall not be transferred.
This Guarantee is subject to Chinese
laws. Any disputes under this Guarantee shall be under the control of the
local court in the place where our bank is located.