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    Description of Goods and / or Services

    Uploaded by

    Ely IEJI
    This document is a bank guarantee provided to a client by a contractor's bank. [1] The bank guarantees payment to the client up to a specified amount if the contractor fails to meet its obligations under the contract. [2] The bank agrees that changes to the contract will not release it from its guarantee obligations and waives notification of any modifications. [3] The guarantee will be reduced by half at operational acceptance and remain in effect until 60 days after final acceptance.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Description of Goods and / or Services

    Uploaded by

    Ely IEJI
    16 views3 pages
    This document is a bank guarantee provided to a client by a contractor's bank. [1] The bank guarantees payment to the client up to a specified amount if the contractor fails to meet its obligations under the contract. [2] The bank agrees that changes to the contract will not release it from its guarantee obligations and waives notification of any modifications. [3] The guarantee will be reduced by half at operational acceptance and remain in effect until 60 days after final acceptance.

    Original Description:

    By ESOK

    Original Title

    lettre_en

    Copyright

    © © All Rights Reserved

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    This document is a bank guarantee provided to a client by a contractor's bank. [1] The bank guarantees payment to the client up to a specified amount if the contractor fails to meet its obligations under the contract. [2] The bank agrees that changes to the contract will not release it from its guarantee obligations and waives notification of any modifications. [3] The guarantee will be reduced by half at operational acceptance and remain in effect until 60 days after final acceptance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    16 views3 pages

    Description of Goods and / or Services

    Uploaded by

    Ely IEJI
    This document is a bank guarantee provided to a client by a contractor's bank. [1] The bank guarantees payment to the client up to a specified amount if the contractor fails to meet its obligations under the contract. [2] The bank agrees that changes to the contract will not release it from its guarantee obligations and waives notification of any modifications. [3] The guarantee will be reduced by half at operational acceptance and remain in effect until 60 days after final acceptance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Bank guarantee model in replacement of holdback

    Name and Address of the Guarantor Bank

    To:

    Contract NO: (Contract title)

    Dear sirs,
    We have been informed that (hereinafter referred to as "the Contractor") has concluded with
    you contract NO: and on for the supply of
    (Description of goods and / or services)

    We also understand, according to the conditions of the contract (Article 13.4: Guarantee
    waiver of holdback in the Special Administrative Clauses) that a guarantee is required to
    cover the good performance of the Contractor's obligations under the Contract.

    We [Bank), in accordance with the instructions of the Contractor, unconditionally and


    irrevocably agree to guarantee, as principal Obligee and not only as Guarantor, the payment
    to [Client's namel at first written request without right of objection on our part and without
    his first prior claim to the Contractor in an amount not exceeding lamount of guarantee in
    numbers and in words).

    We further agree that no change or addendum or other modification to the conditions of the
    Contract or Works to be performed under the said Contract, or to any of the documents of
    the Contract which may be drawn up between (name of the Client and the Contractor, shall
    not release us from any obligation incumbent on us under this warranty, and we hereby
    waive notification of any modification, additive or change.

    This guarantee will be reduced by half on the date of the Operational Acceptance and will
    remain valid and in force until at least sixty days after the Final Acceptance.

    This guarantee is subject to applicable taws and regulations. This warranty is governed by
    the ICC Rules on Demand Guarantees. CCI publication NO: 758.

    SIGNATURE and authentication of the Signatory.

    Name of the bank

    Address
    Date
    CERTIFIED TRANS

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