Bank guarantee model in replacement of holdback

Name and Address of the Guarantor Bank

To:

Contract NO: (Contract title)

Dear sirs,
We have been informed that (hereinafter referred to as "the Contractor") has concluded with
you contract NO: and on for the supply of
(Description of goods and / or services)

We also understand, according to the conditions of the contract (Article 13.4: Guarantee
waiver of holdback in the Special Administrative Clauses) that a guarantee is required to
cover the good performance of the Contractor's obligations under the Contract.

We [Bank), in accordance with the instructions of the Contractor, unconditionally and

irrevocably agree to guarantee, as principal Obligee and not only as Guarantor, the payment
to [Client's namel at first written request without right of objection on our part and without
his first prior claim to the Contractor in an amount not exceeding lamount of guarantee in
numbers and in words).

We further agree that no change or addendum or other modification to the conditions of the
Contract or Works to be performed under the said Contract, or to any of the documents of
the Contract which may be drawn up between (name of the Client and the Contractor, shall
not release us from any obligation incumbent on us under this warranty, and we hereby
waive notification of any modification, additive or change.

This guarantee will be reduced by half on the date of the Operational Acceptance and will
remain valid and in force until at least sixty days after the Final Acceptance.

This guarantee is subject to applicable taws and regulations. This warranty is governed by
the ICC Rules on Demand Guarantees. CCI publication NO: 758.

SIGNATURE and authentication of the Signatory.

Name of the bank

Address
Date
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