Common use of Bank Guarantee Clause in Contracts

Bank Guarantee. (See Clause 7) Penal sum of bond (express in words and figures) KNOW ALL MEN BY THESE PRESENTS THAT Mr./MESSERS (Name of contractor) Whose official address is As principal(s) (herein after referred to as principal) and the Bank of Punjab or scheduled Bank(s) of Pakistan (hereinafter appearing in the schedule of sureties, as sureties (hereinafter some time called the surety at the request of the principal are held and firmly bond to the Government of the Punjab acting through the Executive Engineer Division or his successor or assigns) a body organized and existing under and by virtue of laws of the Government of the Punjab, in the penal sum of the amount stated above lawful money for the payment of which sum well and truly made we bind ourselves our heirs, executors, administrators and successors, jointly and severally, firmly by these presents. PROVIDED THAT We, the sureties, bound ourselves in such sum jointly and severally, as well as, severally only for the purpose of allowing a joint actions against any or all of us and for all other purposes, each surety bond itself, jointly and severally with the principal for the payment of such sum only as set forth opposite its name in the following schedule:- SCHEDULE OF SURETIES Name of bank, branch and address limit of liability The conditions of the above obligations is such that:

Bank Guarantee. (See Clause 7) Penal sum of bond (express in words and figures) KNOW ALL MEN BY THESE PRESENTS THAT Mr./MESSERS (Name of contractor) Whose official address is As principal(s) (herein after referred to as principal) and the Bank of Punjab or scheduled Bank(s) of Pakistan (hereinafter appearing in the schedule of sureties, as sureties (hereinafter some time called the surety at the request of the principal are held and firmly bond to the Government University of the Punjab acting through the Executive Chief Engineer Division or his successor or assigns) a body organized and existing under and underand by virtue of laws of the Government of the Punjab, in the penal sum of the amount stated above statedabove lawful money for the payment of which sum well and truly made we bind ourselves our heirsourheirs, executors, administrators and successors, jointly and severally, firmly by these presents. PROVIDED THAT We, the sureties, bound ourselves in such sum jointly and severally, as well as, severally only for the purpose of allowing a joint actions against any or all of us and for all other purposes, each surety bond itself, jointly and severally with the principal for the payment of such sum only as set forth opposite its name in the following schedule:- SCHEDULE OF SURETIES Name of bank, branch and address limit of liability The conditions of the above obligations is such that:

Bank Guarantee. (See Clause 7) Penal sum of bond (express Express in words and figures) KNOW ALL MEN BY THESE PRESENTS THAT Mr./MESSERS Mr. /MESSERS (Name of contractor) Whose official address is As principal(s) (herein after referred to as principal) and the Bank of Punjab or scheduled Bank(s) of Pakistan (hereinafter appearing in the schedule of sureties, as sureties (hereinafter some time called the surety at the request of the principal are held and firmly bond to the Government of the Punjab acting through the Executive Engineer Division or his successor or assigns) a body organized and existing under and by virtue of laws of the Government of the Punjab, in the penal sum of the amount stated above lawful money for the payment of which sum well and truly made we bind ourselves our heirs, executors, administrators and successors, jointly and severally, firmly by these presents. PROVIDED THAT We, the sureties, bound ourselves in such sum jointly and severally, as well as, severally only for the purpose of allowing a joint actions against any or all of us and for all other purposes, each surety bond itself, jointly and severally with the principal for the payment of such sum only as set forth opposite its name in the following schedule:- SCHEDULE OF SURETIES Name of bank, branch and address limit of liability The conditions of the above obligations is such that:

Bank Guarantee. (See Clause 7) Penal sum of bond (express in words and figures) KNOW ALL MEN BY THESE PRESENTS THAT Mr./MESSERS (Name of contractor) Whose official address is As principal(s) (herein after referred to as principal) and the Bank of Punjab or scheduled Bank(s) of Pakistan (hereinafter appearing in the schedule of sureties, as sureties (hereinafter some time called the surety at the request of the principal are held and firmly bond to the Government University of the Punjab acting through the Executive Chief Engineer Division or his successor or assigns) a body organized and existing under and underand by virtue of laws of the Government of the Punjab, in the penal sum of the amount stated above a mount statedabove lawful money for the payment of which sum well and truly made we bind ourselves our heirsourheirs, executors, administrators and successors, jointly and severally, firmly by these presents. PROVIDED THAT We, the sureties, bound ourselves in such sum jointly and severally, as well as, severally only for the purpose of allowing a joint actions against any or all of us and for all other purposes, each surety bond itself, jointly and severally with the principal for the payment pay ment of such sum only as set forth opposite its name in the following schedule:- SCHEDULE OF SURETIES Name of bank, branch and address limit of liability The conditions of the above obligations is such that: