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    Bon Perlaksanaan

    Uploaded by

    Umiey Ishak
    This document is a performance bond guarantee between Bank Islam Malaysia Berhad and the Government of Malaysia. The bank guarantees the due performance of a contract between the Government and Transformer Engineering Sdn Bhd to construct a highway for RM170 million. The bank agrees to pay the Government up to RM8.46 million if Transformer Engineering fails to perform the contract. The guarantee is initially valid until December 2010 and can be extended annually, with all claims needing to be received by the bank within 4 weeks of the guarantee's expiration.

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    Bon Perlaksanaan

    Uploaded by

    Umiey Ishak
    107 views3 pages
    This document is a performance bond guarantee between Bank Islam Malaysia Berhad and the Government of Malaysia. The bank guarantees the due performance of a contract between the Government and Transformer Engineering Sdn Bhd to construct a highway for RM170 million. The bank agrees to pay the Government up to RM8.46 million if Transformer Engineering fails to perform the contract. The guarantee is initially valid until December 2010 and can be extended annually, with all claims needing to be received by the bank within 4 weeks of the guarantee's expiration.

    Original Description:

    statement of bond

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    © Attribution Non-Commercial (BY-NC)

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    This document is a performance bond guarantee between Bank Islam Malaysia Berhad and the Government of Malaysia. The bank guarantees the due performance of a contract between the Government and Transformer Engineering Sdn Bhd to construct a highway for RM170 million. The bank agrees to pay the Government up to RM8.46 million if Transformer Engineering fails to perform the contract. The guarantee is initially valid until December 2010 and can be extended annually, with all claims needing to be received by the bank within 4 weeks of the guarantee's expiration.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    107 views3 pages

    Bon Perlaksanaan

    Uploaded by

    Umiey Ishak
    This document is a performance bond guarantee between Bank Islam Malaysia Berhad and the Government of Malaysia. The bank guarantees the due performance of a contract between the Government and Transformer Engineering Sdn Bhd to construct a highway for RM170 million. The bank agrees to pay the Government up to RM8.46 million if Transformer Engineering fails to perform the contract. The guarantee is initially valid until December 2010 and can be extended annually, with all claims needing to be received by the bank within 4 weeks of the guarantee's expiration.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    BANK GUARANTEE FORM FOR PERFORMANCE BOND

    THIS AGREEMENT is made the 17 day of July 2008 BETWEEN Bank Islam Malaysia Berhad (BIMB) of 2 Jalan 6c/7, Bangi, 43650 Bandar Baru Bangi (hereinafter called the Guarantor of the one Part and Government of Malaysia of the other Part. WHEREAS In consideration of the Government allowing Transformer Engineering Sdn Bhd (hereinafter referred to as the Contractor) to supply and deliver/provide services to the Government to construct a highway known as Projek Lebuhraya Pantai Timur Fasa 2 dari CH 25000to CH

    40300, in Daerah Kemaman Terengganu (hereinafter


    contract sum of Ringgit Malaysia One (RM170,000,000)

    called the Hundred And

    Articles) for a Seventy Million

    WE, the undersigned at the request of the Contractor irrevocably undertake a guarantee to the Gov~rnment that; The Guarantor has agreed to guarantee the due performance of the Contract in the manner hereinafter appearing. Now the Guarantor hereby agrees with the Government as follows: 1. On the Governments first written demand, the Guarantor shall forthwith pay to the

    Government the amount specified in such demand not withstanding any contestation or protest by the Contractor or Guarantor or by any other third party and without proof or conditions. Provided always that the total of all demands so made shall not exceed the sum of Ringgit recoverable against the Guarantor under this Agreement shall not exceed the said sum. Malaysia Eight Million Four Hundred And Sixty Thousand (RM 8,460,000). and the total amount

    2.

    The Government reserve the right to make any partial demands if it shall so desire and Malaysia

    the total of all such partial demands so made shall not exceed the sum of Ringgit

    Eight Million Four Hundred And Sixty Thousand (RM 8,460,000) and the liability of the Guarantor to pay the Government the aforesaid shall correspondingly be reduced proportionate to any payment of partial demand having been made by the Guarantor.

    3.

    The Guarantor shall not be discharged or released from this Guarantee by any

    arrangement between the Contractor and the Government with or without the consent of the Guarantor or by any alteration in the obligation undertaken by the Contractor or by any forbearance, whether as to payment, time, performance or otherwise.

    4.

    The Guarantee given by the Guarantor is a continuing guarantee. This Agreement shall be

    irrevocable and shall initially remain in force and effect until 20th December 2010 (hereinafter referred to as the Initial Expiry Date) being the end of a period of twelve (12) calendar months after either the expiry date of the Contract or the last delivery of the Articles whichever is later. The Guarantor shall upon the request of the Government extend the Initial Expiry Date of this guarantee for a further period of one (1) calendar year from the Initial Expiry Date (hereinafter referred to as the Extended Expiry Date) and the Guarantee shall be so extended. The maximum aggregate amount that the Government shall be entitled to under this Agreement shall not exceed the said Sum of Ringgit Malaysia Eight Million Four Hundred And Sixty Thousand (RM 8,460,000)

    5.

    All whatsoever obligations and liabilities of the Guarantor under this Agreement shall

    cease upon the determination of this Agreement on the Initial Expiry Date or the Extended Expiry Date as the case may be save to the extent that the Government shall previously have called upon the Guarantor in writing to pay specified moneys payable under the Contract then remaining outstanding.

    6.

    ALL CLAIMS, IF ANY, INRESPECT OF THIS GUARANTEE MUST BE RECEIVED

    BY THE BANK COMPANY DURING THE VALIDITY PERIOD OF THIS GUARANTEE OR WITHIN FOUR (4) WEEKS FROM THE EXPIRY DATE OF THIS GUARANTEE WHICHEVER IS THE LATER. IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first abovewritten.

    Signed for and on behalf of the

    .. Name : Azmin Harun Designation : Chief Financial Officer Bank Company

    Said Guarantor in the presence of)

    .. (Witness) Name : Khairul Munir Kamaruzzaman Designation Officer Bank Company : Ass. Chief Financial

    Signed for and on behalf of the ) Said Government of Malaysia in ) the presence of

    .. Name: Hafiz Hazwan Hamzah Designation : .... .. Departments Chop

    (Witness) Name : Muhammad Faiz Hashim Designation : ... .. Departments Chop

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