履约保函格式

To: [NAME] Container Terminal (being the beneficiary under this bond).

WHEREAS:

(A) By a contract dated [ENTER DATE HERE] (hereinafter called the "Contract") made by you with [ENTER VENDOR NAME HERE]. A company incorporated and existing under the laws of [ENTER COUNTRY HERE] and having its registered office at [ENTER REGISTERED OFFICE HERE] (hereinafter called the "Contractor") the Contractor has agreed inter alia to [DESCRIBE WORKS] upon and subject to the terms and conditions of the Contract.

(B) The terms of the Contract oblige the Contractor to provide this bond in respect of the Contractor’s performance of the Contract.

.

In consideration of your accepting our obligations hereunder in discharge of the Contractor's obligation to provide the aforesaid bond, we [NAME OF ISSUER] (also referred to herein as the "Surety") hereby irrevocably and unconditionally undertake to pay to you the sum of [INSERT HERE AMOUNT IN FIGURES AND WORDS] (hereinafter called the "Stipulated Sum") and accordingly covenant and agree with you as follows:

1. Forthwith upon receipt of a written demand made by you upon us at any time or from time to time, and notwithstanding any objection by the Contractor and without any further proof or conditions and without any right of deduction, set-off or counterclaim, we shall forthwith pay to you the amount or amounts specified in such demand or demands, not exceeding in aggregate the Stipulated Sum. Such payment or payments shall be made by transfer to such account at such bank in such place as you shall direct in writing.

2. Our obligations hereunder shall be primary irrevocable and unconditional obligations and without prejudice to the generality of the foregoing shall not be affected by any act, omission, matter or thing which but for this provision might operate to release or otherwise exonerate us from our obligations hereunder in whole or in part, including but not limited to and whether or not known to us or you:

(a) any time or waiver or other forbearance granted to the Contractor or any other person;

(b) any taking, variation, compromise, renewal or release of, or any refusal or neglect to perfect or enforce any rights, remedies or securities against the Contractor or any other person;

(c) any legal limitation, disability or incapacity relating to the Contractor or any other person;

(d) any change, variation or amendment or supplement to the Contract or the works or goods to be performed or supplied thereunder or any other document or security so that references in this Bond to the Contract shall include each such change, variation, amendment or supplement;

(e) any unenforceability, invalidity, illegality or frustration of any obligations of the Contractor or any other person under the Contract or any other document or security; and

(f) any act or omission of yourselves or any of your servants or agents under or in connection with the Contract.