Performance Bond

PERFORMANCE GUARANTEE
By
this
Bond
we
--------------------------------------------------------------------------------------------------------------- (hereinafter referred to as the “Surety”) are held and firmly bound unto
--------------------------------------------------------------------------------------------------------------- (hereinafter called “the Main Contractor”) in the full and just sum of
-----------------------------------------------------------------------------------------to the
payment of which said sum of money well and truly to be made and done the Surety bind
themselves, their successors and assigns jointly and severally by these Presents.
Whereas the Main Contractor has entered
into
a written Contract with
--------------------------------------------------------------------------------------------------------------- (hereinafter referred to as the “Sub-Contractor”) bearing the date of
------------------------the particulars of contract or description of works being the
-------------------------------------------------------------------------------------------------------------- (hereinafter called “the said Contract”) all of which is more particularly shown
in the said written Contract which contract with all its covenants and conditions is
hereby/will be made a part of these presents to all intents and purposes as though the said
written contract had been incorporated herein.
Now the condition of the foregoing obligation is such that if the Sub-Contractor shall well
truly and faithfully comply with all the terms, covenants and conditions of the said written
contract on their part to be kept and performed according to the tenor of the said written
Contract or if on default by the Sub-Contractor they surely shall satisfy and discharge the
damages sustained by the Main Contractor thereby up to the sum of
--------------------------------------------------------------------------------------------------------------- only then this obligation shall be null and void but otherwise shall be and
remain in full force and effect until issuance of the Certificate of Full Completion and
rectification of any Defect listed at the end of defect liability period by the Architect / Main
contractor, by which date we must have received any claims by registered letter, telegraph
or fax.
We,
the
undersigned
--------------------------------------------------------------------------------------------------------------- (Surety), waiving all objections and defences under the aforementioned
Contract, hereby irrevocably and independently guarantee to pay on your written demand
any
amount
up
to
a
total
of
--------------------------------------------------------------------------------------------------------------- against your written declaration that the Contractor has failed to perform on
the above contract.
Sealed in the Common Seal of:
PLACE OF ISSUE:
DATE:

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SURETY:

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WITNESS:

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