Performance Bank Guarantee Sample (English Version)

A performance bank guarantee is a form of contract that is issued by a bank on behalf of its client, to guarantee the satisfactory completion of a specific project or obligation. It serves as a financial security for the beneficiary in case the client fails to fulfill their contractual obligations. Here is a sample of a performance bank guarantee in English:

PERFORMANCE BANK GUARANTEE

Bank: [Name of Issuing Bank]

Beneficiary: [Name of Beneficiary]

Client: [Name of Client]

Purpose: To guarantee the satisfactory completion of [Project/Obligation]

Amount: [Total Amount of Guarantee]

Date of Issue: [Date of Issuance]

Date of Expiry: [Date of Expiration]

TERMS AND CONDITIONS:

1. This guarantee shall remain valid until the expiry date mentioned above, and it shall automatically be terminated upon completion of the project/obligation.

2. The bank hereby guarantees to make payment to the beneficiary, upon receipt of a written claim stating that the client has failed to fulfill their contractual obligations in accordance with the terms and conditions specified in the underlying agreement.

3. The maximum liability of the bank under this guarantee shall be limited to the amount mentioned above.

4. The bank's liability under this guarantee extends only to the beneficiary named above and does not cover any other party.

5. Any demand made by the beneficiary under this guarantee must be made in writing and sent to the bank by registered mail or courier service.

6. The bank shall pay the beneficiary within [number of days] upon receipt of a valid claim, provided that all necessary documents and evidence establishing the client's failure to fulfill their contractual obligations are provided.

7. The rights and obligations of the parties under this guarantee shall be governed by the laws of [Jurisdiction].

SIGNATURES:

[Authorized Signatory of Issuing Bank]: ________________________

[Authorized Signatory of Beneficiary]: ________________________

[Authorized Signatory of Client]: ________________________

This sample performance bank guarantee is provided for reference purposes only. The actual terms and conditions may vary depending on the specific requirements of the project/obligation and the issuing bank's policies.

It is advisable to consult with legal and financial professionals before drafting or signing any agreements or guarantees.