FORM OF PERFORMANCE SECURITY
(Bank Guarantee)
Guarantee No.____________________
Executed on _____________________
Expiry date _____________________
[Letter by the Guarantor to the Employer]
Name of Guarantor (Bank) with address: United Bank Ltd Sadder Branch Rawalpindi (Scheduled Bank in
Pakistan)
Name of Principal (Contractor) with address: Al-Hamd Enginreering Associates House No 07 Line No 01
Zeeshan Street Chaklala Scheme III, Rawalpindi
Penal Sum of Security (express in words and figures) Rs 3,897,330/- (Three Million Eight hundred Ninty
Seven Thousand Three Hundred Thirty only)
Letter of Acceptance No. 456/SJP/X Dated 11 July 2024
KNOW ALL MEN BY THESE PRESENTS, that in pursuance of the terms of the Bidding Documents and
above said Letter of Acceptance (hereinafter called the Documents) and at the request of the said Principal we,
the Guarantor above named, are held and firmly bound unto the Army Welfare Trust Real Estate (HO)
Sangjani Project (hereinafter called the Employer) in the penal sum of the amount stated above for the
payment of which sum well and truly to be made to the said Employer, we bind ourselves, our heirs, executors,
administrators and successors, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the Principal has accepted the Employer's
above said Letter of Acceptance No. 456/SJP/X Dated 11 July 2024 (Name of Contract) for the Al-Hamd
Enginreering Associates (Name of Project). Development Of Road In Block D,E,F & H
NOW THEREFORE, if the Principal (Contractor) shall well and truly perform and fulfill all the undertakings,
covenants, terms and conditions of the said Documents during the original terms of the said Documents and any
extensions thereof that may be granted by the Employer, with or without notice to the Guarantor, which notice
is, hereby, waived and shall also well and truly perform and fulfill all the undertakings, covenants terms and
conditions of the Contract and of any and all modifications of said Documents that may hereafter be made,
notice of which modifications to the Guarantor being hereby waived, then, this obligation to be void; otherwise
to remain in full force and virtue till all requirements of Clause 49, Defects Liability, of Conditions of Contract
are fulfilled.
Our total liability under this Guarantee is limited to the sum stated above and it is a condition of any liability
attaching to us under this Guarantee that the claim for payment in writing shall be received by us within the
validity period of this Guarantee, failing which we shall be discharged of our liability, if any, under this
Guarantee.
PS-2
We, United Bank Ltd (the Guarantor), waiving all objections and defences under the Contract, do hereby
irrevocably and independently guarantee to pay to the Employer without delay upon the Employer's first written
demand without cavil or arguments and without requiring the Employer to prove or to show grounds or reasons
for such demand any sum or sums up to the amount stated above, against the Employer's written declaration
that the Principal has refused or failed to perform the obligations under the Contract which payment will be
effected by the Guarantor to Employer‟s designated Bank & Account Number.
PROVIDED ALSO THAT the Employer shall be the sole and final judge for deciding whether the Principal
(Contractor) has duly performed his obligations under the Contract or has defaulted in fulfilling said obligations
and the Guarantor shall pay without objection any sum or sums up to the amount stated above upon first written
demand from the Employer forthwith and without any reference to the Principal or any other person.
IN WITNESS WHEREOF, the above-bounden Guarantor has executed this Instrument under its seal on the date
indicated above, the name and corporate seal of the Guarantor being hereto affixed and these presents duly
signed by its undersigned representative, pursuant to authority of its governing body.
_______________
Guarantor (Bank)
Witness:
1. _______________________ Signature _______________
_______________________ Name __________________
Corporate Secretary (Seal)
Title ___________________
2. _______________________
_______________________ _______________________
Name, Title & Address Corporate Guarantor (Seal)