# $^{ }$Annex V - LETTER FOR [ PERFORMANCE ] [ RETENTION MONEY ] FIRST DEMAND GUARANTEE 

[ Insert name and address of financial institution or bank (Letterhead) ] 

European Chemicals Agency (ECHA) Telakkakatu 6 00150 Helsinki Finland 

## Reference: Contract [ Insert number and exact title ] 

[ Insert place and date ] 

## ARTICLE 1 – DECLARATION ON GUARANTEE, AMOUNT AND PURPOSE 

We, the undersigned [ insert name and address of the financial institution or bank ] (‘the Guarantor’) hereby confirm that we give the European Chemicals Agency (‘the Agency’) [or] the European Commission (‘the Commission’) an unconditional, irrevocable and independent first-demand guarantee consisting in the undertaking to pay to the Agency [or]  the Commission a sum equivalent to the amount of: 

EUR [ insert amount in figures and in words ] 

upon simple demand, for guarantee of the [ Option for performance: compliance with substantial contractual obligations] [ Option for retention:  remedy of defects during the contract liability period ] under the contract [ insert number and exact title ] (‘the contract’) concluded between the Agency[ or]  the Commission and [ insert name and address ], (‘the Contractor’). 

## ARTICLE 2 – EXECUTION OF GUARANTEE 

If the Accounting Officer of the Agency [o r] the Commission gives notice that the Contractor has for any reason failed to [ Option for performance: comply with substantial contractual obligations ] [ Option for retention:  remedy defects during the contract liability period]  under the contract by the due date, we, acting for account of the Contractor, shall pay immediately up to the above amount, in EUR, without exception or objection, into [a bank account designated by the Agency [or] the Commission]  [ the following bank account: [ insert number ]], on receipt of the first written request from the Agency [or]  the Commission. We shall inform the Agency [or]  the Commission in writing as soon as the payment has been made. 

## ARTICLE 3 – OBLIGATIONS OF THE GUARANTOR 

1. We waive the right to require exhaustion of remedies against the Contractor, any right to withhold performance, any right of retention, any right of avoidance, any 

