- Performance bond.doc

Performance bond 　　Date :______________ 　　To :________________ 　　Dear Sirs, 　　PERFORMANCE GUARANTEE FOR CONTRACT NO:_______ 　　TITLE:______________ 　　________(Company Name) 　　That in consideration of (hereinafter referred to as #39;NPOG#39;) entering into a contract for the Construction, Commissioning and Handover of Field Surface Facilities.(#39;CONTRACT#39;) dated________ day of________ ________with________ hereinafter referred to as #39;CONTRACTOR (S)#39;#39;#39;We, ________a company incorporated under the laws of ________with a principal business address at________(hereinafter referred to as #39; GUARANTOR#39;) do hereby enter into the following undertakings with NPOG: 　　(a) Guarantee full and complete performance of all obligations of CONTRACTOR(s) under the said CONTRACT and all change orders thereunder and amendments thereof which may subsepuently be duly executed by CONTRACTOR(s). 　　(b) Should CONTRACTOR in any respect fail to perform the said obligations contained in the said CONTRACT or commits any breach thereof, we as GUARANTOR shall ourselves perform or take whatever steps as may be necessary to achieve performance of the obligations thereof, in accordance with terms of the said CONTRACT and the GUARANTOR shall assume any loss, damages, costs and expenses arising from the said failure or breach for which CONTRACTOR(s) may be made available thereunder; 　　MUGLAD BASIN OIL DEVELOPMENT PROJEDT 　　ELELD SURFACE FACILITIES (FSF) 　　CONTRACT NO:NPOG/30/98-163 　　(c) we the GUARANTOR shall not be discharged or released from our undertakings hereunder by any waiver or forebearance by NPOG whether as to payment, time , performance, or otherwise. 　　(d) In the event and for the duration that the GUARANTOR assumes the obligatinos of CONTRACTOR under the said CONTRACT above, the GUARANTOR shall be entitled to all of the rights and benefits to which CONTRACTOR