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), i.e.％ of contract value, to
guarantee the applicant will perform the obligations under the contract
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
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.