Quality Guarantee Letter of Foreign Bank (English Version)
Dear [Recipient's Name],
We, [Bank Name], hereby issue this Quality Guarantee Letter in support of [Company Name]'s bid for the project titled [Project Name]. This letter serves as an irrevocable commitment to guarantee the quality of [Company Name]'s work and products delivered under the mentioned project.
[Company Name] has been selected as a contractor for the [Project Name], and we have thoroughly reviewed their track record, financial stability, and technical expertise. Based on our assessment, we are confident in their ability to execute the project to the highest standards and meet all contractual obligations.
[Bank Name] undertakes to provide a Quality Guarantee amounting to [Amount] USD or [% of Contract Value] of the total contract value, whichever is higher. This guarantee will remain in effect until [Project Completion Date] and will cover any defects or failures related to the quality of workmanship or materials used by [Company Name] during the execution of the project.
In case of any non-conformity found within the validity period of this guarantee, [Bank Name] agrees to promptly compensate [Recipient's Name] for the necessary costs involved in rectifying the issue. It is important to note that our liability under this guarantee extends solely to the quality aspects of the project and not to any delays, penalties, or financial liabilities arising from other factors.
To avail of the guarantee, [Recipient's Name] should submit written notice to [Bank Name] clearly detailing the nature of the non-conformity and providing supporting evidence. Upon receiving the notice, [Bank Name] will initiate a thorough investigation and verification process to determine the validity of the claim.
This Quality Guarantee Letter is subject to the laws and regulations of [Country/Region]. Any disputes or disagreements arising from its interpretation or implementation shall be resolved through amicable negotiation between the parties involved.
This letter is issued in English, and any translations provided are for convenience purposes only. In the event of any discrepancies between the original English version and translated versions, the English version shall prevail.
[Bank Name] remains committed to upholding the highest standards of quality assurance and supporting [Company Name] in successfully delivering the [Project Name].
Please do not hesitate to contact us if you require any further information or clarification regarding this Quality Guarantee Letter.
Sincerely,
[Bank Representative's Name]
[Position]
[Bank Name]
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