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PerformancebondPerformancebonddate:______________to:________________dearsirs,performanceguaranteeforcontractno:_______title:______________________(companyname)thatinconsiderationof(hereinafterreferredtoas'npog')enteringintoacontractfortheconstruction,commissioningandhandoveroffieldsurfacefacilities.('contract')dated________dayof________________with________hereinafterreferredtoas'contractor(s)'''we,________acompanyincorporatedunderthelawsof________withaprincipalbusinessaddressat________(hereinafterreferredtoas'guarantor')doherebyenterintothefollowingundertakingswithnpog:(a)guaranteefullandcompleteperformanceofallobligationsofcontractor(s)underthesaidcontractandallchangeordersthereunderandamendmentsthereofwhichmaysubsepuentlybedulyexecutedbycontractor(s).(b)shouldcontractorinanyrespectfailtoperformthesaidobligationscontainedinthesaidcontractorcommitsanybreachthereof,weasguarantorshallourselvesperformortakewhateverstepsasmaybenecessarytoachieveperformanceoftheobligationsthereof,inaccordancewithtermsofthesaidcontractandtheguarantorshallassumeanyloss,damages,costsandexpensesarisingfromthesaidfailureorbreachforwhichcontractor(s)maybemadeavailablethereunder;mugladbasinoildevelopmentprojedteleldsurfacefacilities(fsf)contractno:npog/30/98-163(c)wetheguarantorshallnotbedischargedorreleasedfromourundertakingshereunderbyanywaiverorforebearancebynpogwhetherastopayment,time,performance,orotherwise.(d)intheeventandforthedurationthattheguarantorassumestheobligatinosofcontractorunderthesaidcontractabove,theguarantorshallbeentitledtoalloftherightsandbenefitstowhichcontractorisentitledundercontract.(e)forthepurposeofthisguaranteeandthesaidcontract,thecontractordoesherebyagreetosubmittotheexclusivejurisdictionofthebritishcourts.(f)thisguaranteeshallinuretothebenefitofnpoganditssuccessorsandassigns,andshallbebindingupontheguarantoranditssuccessorsandassigns.(g)thisguaranteeshallbeeffectiveasofthe________dayof____________.inwitnesswhereof,theguarantorhascausedthisguaranteetobedulyexecu
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