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FERFORMANCEGUARANTEEFORMAT(BANKLETTERHAD)FERFORMANCEGUARANTEEFORMAT(BANKLETTERHAD)to:____________(companyname),acompanyincorporatedunderthelawsofandhavingitsregisteredofficeat____________(hereinaftercalled'npog')whereas(1)byanagreementforthe____________(hereinafterreferredtoastheoftheonepartandnpogoftheotherpart,thecontractoragreestoperformtheworksinaccordancewiththecontract.(2)oneoftheexpressedconditionsofthecontractisthereceiptbynpogofthisguaranteedulyexecutedby(nameofbanker:)____________(hereinaftercalledthe'guarantor')whoherebyirrevocablyandunconditionallyguaranteesandundertakestonpogasfollows:i)ifthecontractorshallinanyrespectfailtoexecutethecontractorcommitanybreachofthisobligationsthereundertheguarantorshallpaytonpogonfirstdemandwithoutprooforconditionsthesumofus.dollar____________(usd:____________)within14daysafterreceiptofthesaiddemandnotwithstandinganycontestationorprotestbythecontractororanyotherthirdparty.ii)theguarantorshallnotbedischargedorreleasedfromthisguaranteebyanyagreementmadebetweenthecontractorandnpogwithorwithouttheconsentoftheguarantororbyanyalterationintheobligationsundertakenbythecontractororbyanyforbearancewhetherastopaymenttime,performancesorotherwise,orbyanychangeinmaneorconstitutionofnpogorthecontractor.iii)thisguaranteeiscontinuingsecurityandaccordinglyshallremaininforceuntiltheissuanceofthenoticeforfinalacceptanceofthree(3)monthsaftertheearlyterminationofthecontract,whicheverisearlier.iv)theguarantoragreethatthegrauanteeisgivenregardlesswhetherornotthesumoutstandingoccasionedbytheloss,damagescosts,expensesorotherwiseincurredbynpogisrecoverablebylegalactionorarbitration.inwitnesswhereofthisguaranteehasbeendulyexecutedbyguarantorthe____________dayof____________.forandonbehalfof____________(nameofbanker)signature:____________________name:_______________________designation:___________________banker'sseal:_________________
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