VOLUME 2 SECTION 4
SPECIMEN PERFORMANCE GUARANTEE(to be completed on paper bearing the letterhead of the financial institution) For the attention ofThe National Authorising Officer of the EDF in The Gambia,Department of State for Finance and Economic Affairs,The Quadrangle, Banjul, The Gambiareferred to below as the “Contracting Authority” Subject: Guarantee No… Performance Guarantee for the full and proper execution of contract <contract number Rehabilitation of Selected Crafts of The Gambia Groundnut Corporation (GGC) River Transport Fleet (Three Tug Boats, Two Motorised Barges, Three Motorised Barges converted into Dummy barges, and Two Dummy Barges) We, the undersigned, <name, and address of financial institution>, hereby irrevocably declare that we guarantee, as primary obligor, and not merely as a surety on behalf of <Contractor's name and address>, hereinafter referred to as “the Contractor”, payment to the Contracting Authority of <amount of the performance guarantee>, representing the performance guarantee mentioned in Article 15 of the Special Conditions of the contract <contract number and title> concluded between the Contractor and the Contracting Authority, hereinafter referred to as “the Contract”. Payment shall be made without objection or legal proceedings of any kind, upon receipt of your first written claim (sent by registered letter with confirmation of receipt) stating that the Contractor has failed to perform his contractual obligations fully and properly or that the Contract has been terminated. We shall not delay the payment, nor shall we oppose it for any reason whatsoever. We shall inform you in writing as soon as payment has been made. We accept notably that no amendment to the terms of the Contract can release us from our obligation under this guarantee. We waive the right to be informed of any change, addition or amendment to the Contract. We note that the guarantee will be released within 30 days of the issue of the final statement of account[and in any case at the latest on (at the expiry of 18 months after the performance period of the Contract)]. . Any request to pay under the terms of the guarantee must be countersigned by the Head of Delegation of the European Commission in the country of the contracting authority. In case of a temporary substitution of the Contracting authority by the Commission, any request for payment of the guarantee will only bear the signature of the representative of the Commission, whether the Head of Delegation concerned, or the authorised person at Headquarters level The law applicable to this guarantee shall be that of <country of the Contracting Authority/country in which the financial institution issuing the guarantee is established>. Any dispute arising out of or in connection with this guarantee shall be referred to the courts of <name of the country of the Contracting Authority>. The guarantee shall enter into force and take effect upon its signature. Done at ………….., ../../.. Name and first name: ………………………For:……………………] Signature: …………….. [stamp of the body providing the guarantee]
This mention has to be inserted where the law applicable to the guarantee imposes a precise expiry date. |
