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Deed of Guarantee by a Bank on behalf of a Company for the Performance of a Contract

Document Cited in Related
Updated atMarch 2010

THIS DEED OF GUARANTEE made this........... day of............ 1999 between the Bank of................. (hereinafter called the bank) of the one part and the Governor of .................... (hereinafter called the purchaser) of the other part;

Whereas ......................... a company registered under the Companies Act 1956 (hereinafter called the contractor) have by a Deed of Agreement made on the.... agreed with the purchaser to supply those plants, machinery and equipment in accordance with the terms, specifications and conditions therein contained;

And whereas in accordance with the terms and conditions of the aforesaid agreement the purchaser has to make to the contractor an advance payment of....... Rs........... (Rupees............. only) being equivalent to.........% of the total F.O.B. Value of the contract price, and such payment is to be secured by a...

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