angielski > polski Prawo/patenty Prawo: umowy

Performance bond

1. In order to secure the due performance of the subject of this Agreement, the Contractor shall, within 14 days from signature of this Agreement, present to the Ordering Party an irrevocable, first demand, first-class bank guarantee , for the amount corresponding to, 20...% of the value of the contractual remuneration net, with the date of termination as at the day of completion of works subject to this Agreement.
2. In order to secure any possible Ordering Party’s claims during the warranty period, the Contractor shall, following the Final Work Acceptance, present an irrevocable, first demand, first-class bank guarantee for the amount corresponding to 10% of the value of the contractual remuneration, with the date of termination as at the day of expiration of the warranty period.
3. The performance bond shall serve to cover any claims related to the due performance of the Agreement and secure claims due to defects during the warranty period.

Draft of bank guarantees is attached to the contract as Annex 4