Performance Guarantee Agreement Model

Contract

A written agreement has been signed between the employer and the employer on the date of the year. The contract includes the documents, drawings, specifications and amendments stipulated in the contract. The condition of this guarantee is that if the contractor fulfil the above contract promptly and faithfully, the liability of this guarantee is invalid; otherwise, it will remain valid.

Once the employer proposes a breach of contract and the employer fulfil his responsibility, the guarantor will quickly make up for the loss of the breach, or quickly:

Employer

And the guarantor determines the contract price between the bidder and the employer after determining the lowest bidders of the tender price, providing sufficient funds in the construction process to pay for the completion of the contract beyond the "contract price balance", including the liability of the guarantor, but the total amount does not exceed the amount mentioned in paragraph 1 above.

The "balance of contract price" mentioned here refers to the amount paid by the employer to the contractor on the basis of the total amount minus the contract payable to the contractor.

responsibility

The certificate is valid within one year after the issuance of the certificate.

No one except the employer has the right to fulfil the requirements for the liability of this guarantee.

The legal representative of the contractor and the Guarantor hereby signs the official seal to certify it.