Guarantee

Performance Guarantee

No. of Prokens Required: 1 |

Document Preview:

Description:

A performance guarantee is issued as security for the performance of a contract or an obligation. This is to provide security for situations where there is a default in performance or non-performance of a contract such that the bank will cover for the beneficiary’s loss.

 

In a performance guarantee, the original contract, the beneficiary’s obligations and required documents will be clearly listed.

 

How to use this Document?

 

This document should be carefully read by the Bank and the Beneficiary.

 

Both the Bank and the Beneficiary should sign and return a copy, and once signed, both parties should get a copy. To avoid any future disputes, both parties may wish to have their signatures witnessed.

 

If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.

 

How to Tailor the Document to Your Need

 

  1. Click “Create Document” button and the document will be prepared with with your account details automatically filled in.
  2. Please fill in any additional information by following the step-by-step guide on the left hand side of the preview document and click the “Next” button.
  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.
  4. Please review the document carefully and make any final modifications to ensure that the details are correct before sending to the addressee.
Document Type:

Deed /poa / authorisation / agency / escrow

Category:

Business > Banking and Finance > Letter of Comfort / Guarantee and Indemnity

 
Keywords:

guarantee

,  

performance guarantee

,  

documents

,  

demand

,  

contract

,  

bank

,  
Author:

DocPro Legal

DocPro Legal is a team of legal professionals with a passion for making quality documents and legal contract templates widely available to the public through cutting edge technology. Our lawyers are qualified in numerous common law jurisdictions including the United Kingdom, Australia, New Zealand, India, Singapore and Hong Kong. We have experience in major law firms and international banks with expertise in business, commercial, finance, banking, litigation, family, succession and company laws.