Bank Performance Bond Sample (English)

This Bank Performance Bond (hereinafter referred to as "Bond") is issued by [Bank Name], a registered and licensed banking institution under the laws of [Country]. This Bond is executed in favor of [Obligee], hereinafter referred to as the "Obligee".

I. Bond Amount:

The maximum aggregate liability of the Bank under this Bond shall not exceed the amount of [Amount], which represents the full performance bond required under the terms and conditions of the underlying contract and any amendments thereto.

II. Obligor:

The Obligor, [Name of Obligor], is the party with whom the Obligee has entered into a contractual agreement for the provision of [Description of Services] (hereinafter referred to as the "Contract").

III. Term:

This Bond shall be effective from the date of issuance and shall remain in force until the completion of the Contract and the certification of final acceptance by the Obligee or upon the expiry of the warranty period, whichever comes later.

IV. Purpose:

This Bond is intended to secure the faithful performance by the Obligor of all its obligations, covenants, and undertakings as set forth in the Contract.

V. Claims Procedure:

In the event that the Obligee determines that the Obligor has failed to fulfill its obligations under the Contract, the Obligee shall provide written notice to the Bank within [Number of Days] days from the date of such determination. The written notice shall include a detailed description of the failure and the amount of damages incurred by the Obligee.

VI. Bank's Liability:

The Bank agrees to be liable, up to the Bond amount specified in Section I, for any damages suffered by the Obligee as a direct result of the Obligor's failure to perform its obligations under the Contract, provided that the Obligee complies with the claims procedure set forth in Section V.

VII. Governing Law and Jurisdiction:

This Bond shall be governed by and construed in accordance with the laws of [Country]. Any dispute arising out of or in connection with this Bond shall be subject to the exclusive jurisdiction of the courts of [Country].

VIII. Miscellaneous:

Any amendment, modification, or waiver of this Bond must be in writing and signed by all parties hereto.

IN WITNESS WHEREOF, the Bank has caused this Bond to be duly executed and delivered as of the date first above written.

[Bank Name]
By: [Authorized Signatory]
Title: [Title]
Date: [Date]