Exhibit - Forms Of Performance Guarantees printable pdf download

EXHIBIT - FORMS OF PERFORMANCE GUARANTEES

PART 1: FORM OF PERFORMANCE GUARANTEE (PARENT COMPANY)

THIS PERFORMANCE GUARANTEE AGREEMENT (hereinafter referred to as the "Guarantee")

effective on ___________, is entered into by and between

Company Name ________________________________ (Registered Number: __________ )

(hereinafter referred to as "Company") of the one part and

Contractor's Ultimate Parent Company ________________________________

(hereinafter referred to as "Guarantor") of the second part.

WHEREAS

The Guarantor is an Affiliated company who is the ultimate parent company of

Contractor's Name _________________________________________________

(hereinafter referred to as the "Affiliate") which is to supply certain goods and/or services under a

certain contract identified as Agreement No. _______________ dated ____________________

(hereinafter referred to as the "Agreement")

with

Company Name ________________________________

and Company is desirous of Guarantor guaranteeing the due and proper performance of the Affiliate’s

obligations under said Agreement and otherwise, and Guarantor who is the ultimate parent company

of the Affiliate is willing to grant the performance guarantee hereinafter provided.

NOW IT IS HEREBY AGREED AS FOLLOWS:

1. In consideration of Company entering into the Agreement with the Affiliate, the Guarantor hereby

covenants and agrees unconditionally with Company, its successors and assigns that:

(a) The Affiliate shall properly, diligently and in good time observe the provisions of and perform and

discharge any and all its obligations contained in or arising from the Agreement, as supplemented and

amended from time to time.

(b) If the Affiliate defaults in any manner whatsoever in the due and proper performance of the

Agreement, or commits any breach of the provisions thereof or of any of the duties above mentioned,

the Guarantor shall, forthwith upon written request from Company so to do, assume and properly and

diligently perform and discharge any and all of said obligations or duties remaining unfulfilled.

under the Agreement or pursuant to any claim made by Company relating to or arising out of the

Agreement.

(d) This Guarantee shall be a primary obligation of Guarantor and accordingly Company shall not be

obliged before enforcing this Guarantee to take any action in court against the Affiliate, to make any

claim against or any demand of Affiliate, to enforce any other security held by it in respect of the

obligations of Affiliate under the Agreement or to exercise any diligence against Affiliate.

(e) Guarantor shall, on demand, indemnify and hold Company harmless from and against any and all

losses and expenses, of whatsoever nature (including, without limitation, all legal fees and expenses),

Exhibit – Forms of Performance Guarantees

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Exhibit - Forms Of Performance Guarantees