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Tender Bond Unconditional
PURSUANT TO your acceptance for adjudication the tender of (......) ("the Tenderer") for the (......) under your Invitation to Tender No.(......)
WE (......) HEREBY GUARANTEE to pay to you, upon receipt of your first written demand, and amount up to (......) ((......)).
The demand must include a statement that:
(1) the Tenderer's tender has been accepted, and
(2) the Tenderer has then
(a) failed to sign a contract in accordance with the Tender, or
(b) failed to submit a performance bond as provided for in the Tender, or
(c) withdrawn its tender before expiry of this Guarantee, and
(3) the amount demanded has not otherwise been paid either directly or indirectly by or for the Applicant.
Such statement shall be accepted by us as conclusive evidence that the amount demanded is due to you.
The demand must be received by us by no later than (......) 20.. after which date our obligations under this Guarantee shall expire and become null and void. The original of this document must be returned to us immediately after the expiry date.
This Guarantee shall take effect upon the receipt by us of written confirmation by the Applicant that its Tender has been accepted, notice of which will be sent to you.
This Guarantee shall be governed by and construed in accordance with the laws of (......). Any dispute arising in connection with this Guarantee shall be finally settled by arbitration under the Rules of Conciliation and Arbitration of (......) by one or more arbitrators appointed pursuant to the Rules.
The place of arbitration shall be (......).
Dated the (......) day of 20..
Signed by: (......)