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Contract Performance Guarantee
"I need a Contract Performance Guarantee for a construction project in Singapore where ABC Bank will guarantee SGD 5 million of XYZ Construction's obligations to perform under their agreement with the government, with the guarantee to be effective from March 2025."
1. Parties: Details of the guarantor, principal obligor, and beneficiary
2. Background: Context of the underlying contract and reason for guarantee
3. Definitions: Key terms used throughout the guarantee
4. Guarantee and Indemnity: Core obligations of the guarantor
5. Scope of Guarantee: Extent and limitations of the guaranteed obligations
6. Duration: Validity period of the guarantee
7. Demand Requirements: Process and conditions for making claims
8. Governing Law and Jurisdiction: Applicable law and dispute resolution forum
1. Step-in Rights: Optional provisions detailing the guarantor's rights to take over performance of the underlying contract in case of default
2. Counter-Indemnity: Optional provisions for the principal's obligation to indemnify the guarantor for any payments made under the guarantee
3. Assignment: Optional provisions governing the rights to transfer or assign the guarantee to other parties
1. Form of Demand: Standard template for making claims under the guarantee
2. Underlying Contract: Copy or summary of the contract being guaranteed
3. Payment Details: Schedule containing bank account and payment information for processing claims
Authors
Principal
Beneficiary
Guarantor
Guaranteed Obligations
Underlying Contract
Guaranteed Amount
Demand
Business Day
Expiry Date
Claim Period
Event of Default
Maximum Liability
Permitted Assignment
Security Interest
Guaranteed Performance
Project
Contract Documents
Notice
Working Day
Force Majeure Event
Effective Date
Payment Currency
Insolvency Event
Authorized Representative
Guarantee Period
Contract Price
Related Documents
Governing Law
Jurisdiction
Scope of Guarantee
Duration and Validity
Demand and Payment
Maximum Liability
Independent Obligation
Preservation of Rights
No Discharge
Currency and Payment
Representations and Warranties
Transfer and Assignment
Amendments and Variations
Communications and Notices
Waiver
Severability
Costs and Expenses
Confidentiality
Force Majeure
Set-Off Rights
Counter-Indemnity
Default Events
Termination
Reinstatement
Further Assurance
Time of Essence
Entire Agreement
Third Party Rights
Governing Law
Jurisdiction
Dispute Resolution
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