Performance bond.docx

Performance bond.docx

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Performancebond

Performancebond

　　date:

______________

　　to:

________________

　　dearsirs,

　　performanceguaranteeforcontractno:

_______

　　title:

______________

　　________（companyname）

　　thatinconsiderationof（hereinafterreferredtoas'npog'）enteringintoacontractfortheconstruction,commissioningandhandoveroffieldsurfacefacilities.（'contract'）dated________dayof________________with________hereinafterreferredtoas'contractor（s）'''we,________acompanyincorporatedunderthelawsof________withaprincipalbusinessaddressat________（hereinafterreferredtoas'guarantor'）doherebyenterintothefollowingundertakingswithnpog:

　　（a）guaranteefullandcompleteperformanceofallobligationsofcontractor（s）underthesaidcontractandallchangeordersthereunderandamendmentsthereofwhichmaysubsepuentlybedulyexecutedbycontractor（s）.

　　（b）shouldcontractorinanyrespectfailtoperformthesaidobligationscontainedinthesaidcontractorcommitsanybreachthereof,weasguarantorshallourselvesperformortakewhateverstepsasmaybenecessarytoachieveperformanceoftheobligationsthereof,inaccordancewithtermsofthesaidcontractandtheguarantorshallassumeanyloss,damages,costsandexpensesarisingfromthesaidfailureorbreachforwhichcontractor（s）maybemadeavailablethereunder;

　　mugladbasinoildevelopmentprojedt

　　eleldsurfacefacilities（fsf）

　　contractno:

npog/30/98-163

　　（c）wetheguarantorshallnotbedischargedorreleasedfromourundertakingshereunderbyanywaiverorforebearancebynpogwhetherastopayment,time,performance,orotherwise.

　　（d）intheeventandforthedurationthattheguarantorassumestheobligatinosofcontractorunderthesaidcontractabove,theguarantorshallbeentitledtoalloftherightsandbenefitstowhichcontractorisentitledundercontract.

　　（e）forthepurposeofthisguaranteeandthesaidcontract,thecontractordoesherebyagreetosubmittotheexclusivejurisdictionofthebritishcourts.

　　（f）thisguaranteeshallinuretothebenefitofnpoganditssuccessorsandassigns,andshallbebindingupontheguarantoranditssuccessorsandassigns.

　　（g）thisguaranteeshallbeeffectiveasofthe________dayof____________.

　　inwitnesswhereof,theguarantorhascausedthisguaranteetobedulyexecutedbyitsauthorizedrepresentativeonthis____________dayof　　____________.

　　forandonbehalf:

　　____________________

　　（company）

　　date:

______________

　　to:

________________

　　dearsirs,

　　performanceguaranteeforcontractno:

_______

　　title:

______________

　　________（companyname）

　　thatinconsiderationof（hereinafterreferredtoas'npog'）enteringintoacontractfortheconstruction,commissioningandhandoveroffieldsurfacefacilities.（'contract'）dated________dayof________________with________hereinafterreferredtoas'contractor（s）'''we,________acompanyincorporatedunderthelawsof________withaprincipalbusinessaddressat________（hereinafterreferredtoas'guarantor'）doherebyenterintothefollowingundertakingswithnpog:

　　（a）guaranteefullandcompleteperformanceofallobligationsofcontractor（s）underthesaidcontractandallchangeordersthereunderandamendmentsthereofwhichmaysubsepuentlybedulyexecutedbycontractor（s）.

　　（b）shouldcontractorinanyrespectfailtoperformthesaidobligationscontainedinthesaidcontractorcommitsanybreachthereof,weasguarantorshallourselvesperformortakewhateverstepsasmaybenecessarytoachieveperformanceoftheobligationsthereof,inaccordancewithtermsofthesaidcontractandtheguarantorshallassumeanyloss,damages,costsandexpensesarisingfromthesaidfailureorbreachforwhichcontractor（s）maybemadeavailablethereunder;

　　mugladbasinoildevelopmentprojedt

　　eleldsurfacefacilities（fsf）

　　contractno:

npog/30/98-163

　　（c）wetheguarantorshallnotbedischargedorreleasedfromourundertakingshereunderbyanywaiverorforebearancebynpogwhetherastopayment,time,performance,orotherwise.

　　（d）intheeventandforthedurationthattheguarantorassumestheobligatinosofcontractorunderthesaidcontractabove,theguarantorshallbeentitledtoalloftherightsandbenefitstowhichcontractorisentitledundercontract.

　　（e）forthepurposeofthisguaranteeandthesaidcontract,thecontractordoesherebyagreetosubmittotheexclusivejurisdictionofthebritishcourts.

　　（f）thisguaranteeshallinuretothebenefitofnpoganditssuccessorsandassigns,andshallbebindingupontheguarantoranditssuccessorsandassigns.

　　（g）thisguaranteeshallbeeffectiveasofthe________dayof____________.

　　inwitnesswhereof,theguarantorhascausedthisguaranteetobedulyexecutedbyitsauthorizedrepresentativeonthis____________dayof