An amount is to be inserted by the Guarantor, representing the 5% of the Total Ceiling of the Contract specified in the Annex-B of Contract, and denominated either in the currency(ies) of the Contract or in a freely convertible currency acceptable to the Client.
We hereby waive the necessity of your demanding the said debt from the Service Provider before presenting us with the demand. We further agree that no change or addition to or other modification of the terms of the Contract or of the Services to be performed there under or of any of the Contract documents which may be made between you and the Service Provider shall in any way release us from any liability under this guarantee, and we hereby waive notice of any such change, addition or modification. This guarantee shall be valid until the date of 30th, June 2014.
SIGNATURE AND SEAL OF THE GUARANTOR _______________________________ NAME OF BANK _______________________________ ADDRESS _______________________________ DATE ______________________________
Peace Support Project, Singha Durbar, Kathmandu a bank guarantee to guarantee his proper
and faithful performance under the said Clause of the Contract in an amount of NPR _________________ [amount of Guarantee] ___________________________ [in words]. We, the _________________________________ [bank or financial institution], as instructed by the Service Provider, agree unconditionally and irrevocably to guarantee as primary obligator and not as Surety merely, the payment to Emergency Peace Support Project, Singha Durbar, Kathmandu on his first demand without whatsoever right of objection on our part and without his first claim to the Service Provider, in the amount not exceeding NPR __________________[amount 79 of Guarantee] __________________________[in words].
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An amount is to be inserted by the bank or financial institution representing the amount of the Advance Payment, and denominated either in the currency(ies) of the Advance Payment as specified in the Annex-B of Contract, or in a freely convertible currency acceptable to the Client.
We further agree that no change or addition to or other modification of the terms of the Contract or of Services to be performed there under or of any of the Contract documents which may be made between Emergency Peace Support Project, Singh durbar, Kathmandu and the Service Provider, shall in any way release us from any liability under this guarantee, and we hereby waive notice of any such change, addition or modification. This guarantee shall remain valid and in full effect from the date of the advance payment under the Contract until 30th, June 2014. ie. Until Emergency Peace Support Project, Singha Durbar, Kathmandu receives full repayment of the same amount from the Service Provider. SIGNATURE AND SEAL OF THE GUARANTOR: ______________________________________
Name of Bank/Financial Institution: ______________________________________ Address: ______________________________________ Date: ______________________________________