Contrato de prestação de garantia.
CONTRATO DE PRESTAÇÃO DE GARANTIA
We, .............. hereinafter called the guarantor, hereby irrevocably and
unconditionally guarantee the payment of ... to you, representing the amount of
the advance payment and according covenant and agree as follows:
A. On the failure of ... to fulfill any of the conditions of the subcontract as
determined by you in your absolute judgment the guarantor shall, on demand made
by you in writing and not withstanding any objection by ..., forthwith pay you
any such amount or amounts as you shall require, not exceeding on agregate the
above mentioned amount of ...
B. The covenant herein contained constitutes an unconditional and irrevocable
direct obligation of the guarantor. No alteration in the terms of the
subcontract or any extent or nature of the work to be performance thereunder and
no allowance of time by you or other forbearance or concession or any other act
or omission by you which, but for this provision, may exonerate or discharge the
guarantor shall in any way relieve the guarantor any liability hereunder.
C. The value of this guarantee shall be reduced in proportion to the value of
work executed, as stated in the payment certificates signed by both contractor
and subcontractor. The guarantee expires when the certificate of completion is
issued.
D. The contractor binds himself to inform the subcontractor by registered letter
of any failure of the subcontractor to meet his obligations under the
subcontract as soon as the contractor finds that the he has cause to demand
payment under this guarantee. Moreover, the contractor binds himself to observe
a deadline of 14 calendar days from the date of the above-mentioned registered
letter to the date on which the claim for damages is lodged with us.
E. This guarantee is governed by and shall be construed in accordance with the
laws and regulations of the Netherlands.