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Perfomance Bond

Form B-2                                                                                                                   Perfomance Bond

 

PERFORMANCE BOND (GUARANTEE)

 

Name of the bank:     

Place and date:       

Beneficiary (Contracting Authority): Permanent Mission of the Republic of Slovenia to the United Nations in New York, 630 Third Avenue, 20th Floor, New York, N. Y. 10017, USA, representing the successor states of the former Socialist Federal Republic of Yugoslavia, namely Bosnia and Herzegovina, the Republic of Croatia, the Republic of Macedonia, the Republic of Slovenia and the Republic of Serbia

     

Guarantee No.     

 

 

In accordance with the contract ______________________________________ (contract title, contract number, date), concluded between the beneficiary and the contractor __________________________________________ (name of the Contractor) for the performance of __________________________ (subject matter of the contract), in the time limit ____________ (date, days, months), in the quantity and quality, defined in the contract, the Contractor is bound to perform the following services:

 

Service of brokering the sale of immovable property listed above by a single real estate agency, which will be awarded the contract by the successor states of the former SFRY

 

On the Contractor’s request, we hereby undertake to be irrevocably and unconditionally bound by this guarantee to pay USD 100,000.00 (in writing one hundred thousand 00/100) within 15 days upon the receipt of your first written claim, if the Contractor does not fulfill his contractual obligations in agreed quality, quantity and time limits defined in the aforementioned contract. Our obligation is also valid in case the fulfillment of contractual obligations is only partial. 

 

The claim invoking the performance bond shall be submitted to the bank and it shall contain:

1.      an original statement of the Contracting Authority invoking the performance bond in compliance with the previous paragraph, and

2.      the original of the Performance Bond No. ________ /________.

 

This performance bond decreases with each, by this guarantee, realized payment.

 

This performance bond shall be valid at the latest until __________. After the expiry of this date, the bond shall be void. Our obligation expires automatically regardless of whether the bond has been returned.

 

If at any time during the validity of this bond the beneficiary agrees with the Contractor to extend the time limit for the execution of the awarded project, or in case the Contractor fails to fulfill the contractual obligations, the Contractor and the bank may reach a mutual agreement to extend the validity of this bond.

 

This bond is not transferable.

 

Any disputes between the beneficiary and the bank shall fall within the jurisdiction of the competent court in New York City and are subject to law, which is valid in New York City.

 

 

Bank

(Seal and signature)

Form B-2                                                                                                                  Perfomance Bond

 

 

INSTRUCTIONS FOR COMPLETING THE FORM*: Performance Bond (Form B-2)

 

The Tenderer may submit equivalent suretyship insurance with an insurance company with the same content as defined in the sample.

 



*        These instructions need not be enclosed to the Tender/ the application.


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