Mobilize advance payment bank guarantee

Mobilize advance payment bank guarantee

To: _____
Gentlemen:
According to the provisions of paragraph 60.6 of the contractual conditions in the above contract, _____ shall pay the owner a bank deposit of ____ capitalized as _______ as a guarantee for its performance under the terms of the contract.
Our ___ is entrusted by the contractor not only as the guarantor but also as the principal responsible person, unconditionally and irrevocably agreeing to request the recovery of the mobilization advance payment upon receipt of the owner’s claim that the contractor has not fulfilled the provisions of the above provisions. After the request, the owner shall pay ____ the amount of the guarantee that does not exceed ___, and guarantee to the owner according to the above contract price. Regardless of whether we have any embarrassing powers or whether the owner first requests them from the contractor, the owner has the right to claim all or part of the mobilization advance payment from the contractor.
We also agree that any modification between the owner and the contractor may be subject to changes to the terms of the contract, changes to the specifications or other contractual files, but in no way exempt us from liability under this guarantee. Supplements and modifications are not required to notify us.
This warranty shall take effect from the date of mobilization of the advance payment until the full amount of the same amount of the contractor is recovered.
Your faithful signature: ____
Banker Financial Institution Name: ____
address:________________