CONTRACT SECTION IV: MODEL PERFORMANCE GUARANTEE [On the headed notepaper of the financial institution providing the guarantee] To: [name of contracting authority] (Hereinafter Contracting Authority”). “the On behalf of: [name and address of economic operator] (Hereinafter operator”) “economic Title of the procurement activity: Procurement Number: On Demand Guarantee WHEREAS the economic operator has undertaken to post a performance security referring to Tender Dossier, with the abovementioned procurement number dispatched by the Contracting Authority; WHEREAS the Economic Operator to post a guarantee for the sum specified in the tender dossier; WHEREAS we have agreed to give the Economic Operator such a guarantee: THEREFORE WE hereby affirm that we are Guarantors and responsible to you, on behalf of the Economic Operator, up to a total of <amount of the guarantee in words and figures>, and we undertake to pay you, upon your first written demand declaring the Economic Operator to be in default because: The contracting authority based on the objectively verified evidences stated that economic operator has failed to complete its obligations under the contract and this has caused to the contracting authority substantial loss and/or substantial expenses in obtaining the completion of such contract; and The Economic Operator has failed to perform signed contract, which leaves unpaid many workers, subcontractors, and/or material suppliers. Payment in the limited sum of <amount of guarantee> as aforesaid shall be made without disagreement or complaint, as soon as possible after the registration of your demand with the confirmation of “acceptance”. This guarantee is valid until <date and time> Signature and seal of the Guarantors _______________________________ Name of financial institution
CONTRACT SECTION IV: MODEL PERFORMANCE GUARANTEE [On the headed notepaper of the financial institution providing the guarantee] To: [name of contracting authority] (Hereinafter “the Contracting Authority”). On behalf of: [name and address of economic operator] (Hereinafter “economic operator”) Title of the procurement activity: Procurement Number: On Demand Guarantee WHEREAS the economic operator has undertaken to post a performance security referring to Tender Dossier, with the abovementioned procurement number dispatched by the Contracting Authority; WHEREAS the Economic Operator to post a guarantee for the sum specified in the tender dossier; WHEREAS we have agreed to give the Economic Operator such a guarantee: THEREFORE WE hereby affirm that we are Guarantors and responsible to you, on behalf of the Economic Operator, up to a total of <amount of the guarantee in words and figures>, and we undertake to pay you, upon your first written demand declaring the Economic Operator to be in default because: The contracting authority based on the objectively verified evidences stated that economic operator has failed to complete its obligations under the contract and this has caused to the contracting authority substantial loss and/or substantial expenses in obtaining the completion of such contract; and The Economic Operator has failed to perform signed contract, which leaves unpaid many workers, subcontractors, and/or material suppliers. Payment in the limited sum of <amount of guarantee> as aforesaid shall be made without disagreement or complaint, as soon as possible after the registration of your demand with the confirmation of “acceptance”. This guarantee is valid until <date and time> Signature and seal of the Guarantors _______________________________ Name of financial institution
B22%20Tender%20Dossier%20Works%20Restricted.docx