Performance Bond Sample
A performance bond is a type of guarantee issued by a bank or an insurance company to ensure that a contractor fulfills its contractual obligations to the project owner. It provides financial security and reassurance to the owner in case the contractor fails to complete the project as agreed. Here is an English translation sample of a performance bond:
Contract No: [Insert Contract Number]
Date: [Insert Date]
To: [Insert Project Owner's Name]
[Insert Project Owner's Address]
We, the undersigned, hereby agree to provide a performance bond for the execution of the contract between [Insert Contractor's Name] (hereinafter referred to as "the Contractor") and [Insert Project Owner's Name] (hereinafter referred to as "the Owner"), as follows:
1. The performance bond shall be issued in favor of the Owner in the amount of [Insert Bond Amount in Words] ([Insert Bond Amount in Numbers]).
2. The performance bond shall remain valid and binding from the date of issuance until the completion of the contract and the issuance of the final acceptance certificate by the Owner.
3. In the event of the Contractor's failure to fulfill any of its contractual obligations, the performance bond shall be invoked by the Owner to compensate for any delay, damages, or losses incurred as a result.
4. The liability of the issuer under this performance bond shall be limited to the bond amount specified herein.
5. This performance bond shall not be terminated or revoked without the written consent of the Owner.
6. Any disputes arising out of or in connection with this performance bond shall be settled through amicable negotiations. In the event of failure to reach an amicable settlement, the disputes shall be referred to arbitration in accordance with the rules of [Insert Arbitration Institution]. The language of arbitration shall be English.
7. This performance bond shall be governed by and construed in accordance with the laws of [Insert Governing Law].
[Insert Issuing Bank's Name]
[Insert Issuing Bank's Address]
[Insert Issuing Bank's Contact Details]
[Insert Contractor's Name]
[Insert Contractor's Address]
[Insert Contractor's Contact Details]
[Insert Project Owner's Name]
[Insert Project Owner's Address]
[Insert Project Owner's Contact Details]
相关新闻： 预付款保函文件 开取履约保函需要多长时间 投标担保银行保函 工行履约保函样式 农民工银行保函给谁 履约保函的收费比例 人保可以出投标保函吗 银行的履约保函业务 银行质量保函哪家银行开 中国建设银行预付款保函 履约保函必须凭合同办理 对外支付保函 银行开工程保函费用多少 投标保函的建议怎么写 银行保函办理操作流程图片 银行保函后钱不能动了 银行保函逻辑思维是什么 办履约保函要多久 低价风险履约保函的意思 ppp合同 建设期履约保函
