Performance Guarantee: Dbs Letterhead or Swift Identifier Code (DBSSSGSG) #
Performance Guarantee: Dbs Letterhead or Swift Identifier Code (DBSSSGSG) #
PERFORMANCE GUARANTEE
Whereas on the __day of ___ ,20 , an Agreement (hereinafter called “the Contract”) was
made between ___________ [name and address of applicant] (hereinafter called “ the
Contractor”)and the Employer whereby the Contractor agrees to perform ___ [state the
nature of the Contract] for the Contract Sum of ____. [currency, amount in figures]
And Whereas the Contractor is required under the Contract to pay __per cent of the
Contract Sum as Security Deposit for the performance of his obligation under the Contract.
Now in consideration of the Employer not insisting on the Contractor paying __per cent of
the Contract Sum as Security Deposit, we, DBS Bank Ltd, DBS Asia Central, 12 Marina
Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982, hereby agree as
follows:-
VALIDITY CLAUSE
4. Our liability under this guarantee shall continue and this guarantee shall remain in
full force and effect from _______ [date of issue or effective date*] until _____
[expiry date*] (hereinafter called “the Expiry Date”)
After the Expiry Date, this Guarantee shall be null and void and our liabilities hereunder
shall cease automatically, notwithstanding that the original of this Guarantee is not
returned to us for cancellation.
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CLAIM EXPIRY CLAUSE
5. Any demand under this Guarantee shall be made by you by way of a notice in writing in
paper form addressed to us and received by us at DBS Trade Services, DBS Asia Central,
12 Marina Boulevard #12-01, Marina Bay Financial Centre Tower 3, Singapore 018982
either by mail or by hand on or before __ [expiry date* or claim expiry date* being
Expiry Date plus Claim Period]
DOCUMENTARY REQUIREMENT
6. All demand under this Guarantee, must be presented in paper form accompanied by
the following documents:-
(i) this Original Guarantee;
(ii) your signed statement certifying that the Contractor is in breach of its obligation
under the Contract and state in which respect the Contractor is in breach.
Such demand and accompanying statement shall be final and conclusive between us of
any and all amounts owing to you by the Seller.
ASSIGNMENT CLAUSE
7. This Guarantee may be assigned with our written consent which shall not
be unreasonably withheld.
__________________________
(Authorised signatories of the Bank)
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1. All italic text is for use in preparing this form only and shall be deleted
before issuance of the final guarantee
2. #If beneficiary requires this guarantee issued by DBS to be sent to his bank for
authentication and advise, please provide the Advising Bank (beneficiary’s bank)
SWIFT code for ease of identification and delivery
3. In accordance with Association of Banks of Singapore By-Laws, all guarantees
issued in favour of Singapore beneficiaries must have an expiry date and claim period
not exceeding 90 days
4. *Please enter all dates in the format of DAY/MONTH/YEAR eg. 08 AUGUST 2018.
Page 2 of 2 (27May2016)
DBS LETTERHEAD OR SWIFT IDENTIFIER CODE (DBSSSGSG)#
TENDER GUARANTEE
1. We have been informed that ______ [name of the Tenderer] (hereinafter called “the
Tenderer”) has submitted to you its Tender dated ____(hereinafter called “the Tender”)
for the execution of ___ [name of Contract](hereinafter called “the Contract”) under
Invitation for Tenders No.___(“the IFT”). Furthermore, we understand that, according to
your conditions, Tenders must be supported by a Tender Guarantee.
(a) has withdrawn its Tender during the period of Tender validity specified by
the Tenderer in the IFT; or
(b) having been notified of the acceptance of its Tender by the Employer during the period of
Tender validity, (i) fails or refuses to execute the Contract or (ii) fails or refuses to
furnish the performance guarantee, in accordance with the terms of the IFT.
Such demand and accompanying statement shall be final and conclusive between us of
any and all amounts owing to you by the Tenderer.
VALIDITY CLAUSE
3. This Guarantee will take effect from the date of issue and will expire on ___ [expiry
date](hereinafter referred to as “the Expiry Date”).
OR
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3. This Guarantee will take effect from ____[effective date*] and will expire on
_____ [insert Expiry Date* being the no. of days after the expiration of the Tenderer's
Tender or Tender Closing Date] or upon the following date, whichever is earlier
(hereinafter referred to as “the Expiry Date”):-
(a) if the Tenderer is awarded the Contract , the date we issue a performance guarantee
for ______( ______ ) [amount in words and figures]in the form as set out in
Appendix I at the instruction of the Tenderer, which is to supercede and replace this
Guarantee; or
(b) if the Tenderer is not awarded the Contract ,the date we receive a copy of
your notification addressed to the Tenderer informing them that they have not
been successful in the Tender.
After the Expiry Date, this Guarantee shall be null and void and our liabilities hereunder
shall cease automatically, notwithstanding that the original of this Guarantee is not
returned to us for cancellation.
ASSIGNMENT CLAUSE
6. This Guarantee may be assigned with our prior written consent which shall not
be unreasonably withheld.
__________________________
(Authorised signatories of the Bank)
Page 2 of 3 (27May2016)
APPENDIX I
[Insert Full Text of the Performance Guarantee required to be issued favouring the
beneficiary]
-----------------------------------------------------------------------------------------------------------------
1. All italic text is for use in preparing this form only and shall be deleted
before issuance of the final guarantee
2. #If beneficiary requires this guarantee issued by DBS to be sent to his bank for
authentication and advise, please provide the Advising Bank (beneficiary’s bank)
SWIFT code for ease of identification and delivery
3. In accordance with Association of Banks of Singapore By-Laws, all guarantees
issued in favour of Singapore beneficiaries must have an expiry date and claim period
not exceeding 90 days from the expiry date
4. *Please enter all dates in the format of DAY/MONTH/YEAR eg. 08 AUGUST 2018
Page 3 of 3 (27May2016)
DBS LETTERHEAD OR SWIFT IDENTIFIER CODE (DBSSSGSG)#
ADVANCE PAYMENT
BANKER’S GUARANTEE
*[if beneficiary requires to be paid interest, please quantify the interest payable by using the
clause as follows “plus interest at the rate of _ _% per annum (calculated from the date of
Seller’s receipt of the Advance Payment to the date of payment herein)”. Insert interest rate
to apply only if this clause is required to be issued, otherwise leave it blank]
Page 1 of 3 (27May2016)
VALIDITY CLAUSE
5. This Guarantee shall become effective automatically only upon the receipt of the
Advance Payment into the Contractor’s account maintained with DBS Bank Ltd, account
number ____quoting this Guarantee no.(DBS will insert) within ___days from Date of
Issue, and shall remain in full force until ____________ [expiry date]*(hereinafter called
“the Expiry Date”). After the Expiry Date and subject to your right to make a claim within
the claim period, this Guarantee shall be null and void and our liabilities hereunder shall
cease automatically, notwithstanding that the original of this Guarantee is not returned to us
for cancellation.
DOCUMENTARY REQUIREMENT
7. All demand under this Guarantee, must be presented in paper form accompanied by
the following documents:-
(i) this Original Guarantee;
(ii) your signed statement certifying that the Contractor is in breach of its obligation
under the Contract and state in which respect the Contractor is in breach.
Such demand and accompanying statement shall be final and conclusive between us of
any and all amounts owing to you by the Contractor.
ASSIGNMENT CLAUSE
8. This Guarantee may be assigned with our prior written consent which shall not
be unreasonably withheld.
__________________________
(Authorised signatories of the Bank)
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APPENDIX 1
In connection with the abovementioned Guarantee issued by you dated _______with reference
number : ___________), we hereby request for and consent to the reduction of the said Guarantee
by the amount of ________________ (_____________)
___________________
Name: ___________________
Designation: ___________________
Date :____day of ________20___
____________________
Name: ___________________
Designation: ___________________
Date: ____ day of _____ 20__
*Affix Company Stamp & Sign
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1. All italic text is for use in preparing this form only and shall be deleted
before issuance of the final guarantee
2. #If beneficiary requires this guarantee issued by DBS to be sent to his bank for
authentication and advise, please provide the Advising Bank (beneficiary’s bank)
SWIFT code for ease of identification and delivery
3. In accordance with Association of Banks of Singapore By-Laws, all guarantees
issued in favour of Singapore beneficiaries must have an expiry date and claim period
not exceeding 90 days from the expiry date
4. *Please enter all dates in the format of DAY/MONTH/YEAR eg. 08 AUGUST 2018
Page 3 of 3 (27May2016)
DBS LETTERHEAD OR SWIFT IDENTIFIER CODE (DBSSSGSG)#
PAYMENT GUARANTEE
Whereas on the ____day of _____ 20__, an Agreement (hereinafter called “the Contract”)
was made between ___________ [name and address of applicant] (hereinafter called “ the
Distributor ) and the Vendor- whereby the Distributor agrees to ____[insert the contractual
relationship between Vendor and Distributor, e.g. Vendor grant permission to Distributor to
distribute products in a certain country and according to terms of Contract, Distributor is to
pay for the goods received and within __days from date of invoice ___] for the Contract
Sum of _________ [currency, amount in figures]
And Whereas the Distributor is required under the Contract to furnish a Payment Guarantee
for _____(______) [currency, amount in figures]with validity period of not less than ___
[months/year] to assure the Vendor of its faithful performance of its payment obligations
under the Contract. .
We, DBS Bank Ltd, 12 Marina Boulevard #12-00 DBS Asia Central @MBFC Tower
3 Singapore 018982 hereby agree as follows:-
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VALIDITY CLAUSE
4. Our liability under this Guarantee shall continue and this Guarantee shall remain in full
force and effect from _______ [effective date* ] until _____ [expiry date*] (hereinafter
called “the Expiry Date”)
After the Expiry Date and subject to your right to make a claim within the claim period,
this Guarantee shall be null and void and our liabilities hereunder shall cease
automatically, notwithstanding that the original of this Guarantee is not returned to us for
cancellation.
DOCUMENTARY REQUIREMENT
6. All demand under this Guarantee, must be presented in paper form accompanied by
the following documents:-
(i) this Original Guarantee;
(ii) your signed statement certifying that the Contractor is in breach of its obligation
under the Contract and state in which respect the Contractor is in breach.
Such demand and accompanying statement shall be final and conclusive between us of
any and all amounts owing to you by the Seller.
ASSIGNMENT CLAUSE
7. This Guarantee may be assigned with our prior written consent which shall not
be unreasonably withheld.
__________________________
(Authorised signatories of the Bank)
-----------------------------------------------------------------------------------------------------------------
1. All italic text is for use in preparing this form only and shall be deleted
before issuance of the final guarantee
2. #If beneficiary requires this guarantee issued by DBS to be sent to his bank for
authentication and advise, please provide the Advising Bank (beneficiary’s bank)
SWIFT code for ease of identification and delivery
3. In accordance with Association of Banks of Singapore By-Laws, all guarantees
issued in favour of Singapore beneficiaries must have an expiry date and claim period
not exceeding 90 days from the expiry date
4. *Please enter all dates in the format of DAY/MONTH/YEAR eg. 08 AUGUST
2018
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