Performance guarantee

According to this guarantee, ______________ acts as the guarantor and ________________ as the guarantor, and the creditor ______________ is responsible for the payment of RMB_________ yuan. Both the contractor and the guarantor are bound by this guarantee.
In view of the fact that the contractor has signed a written agreement with the employer on _______ ______ ______ days, the contract below includes the files, drawings, specifications and modifications specified in the contract; the conditions of this guarantee Yes: If the contractor fulfils the above contract promptly and faithfully, the liability of this guarantee will be invalid; otherwise it will remain valid. Once the employer submits the contractor’s breach of contract and the employer has fulfilled its responsibilities, the guarantor will quickly make up for the loss of default, or quickly:
1. Complete the contract as required by the contract; or _______________________________________.
2. Provide employer-qualified bids according to the contract conditions. After the employer and the guarantor have determined the lowest resounding bidders of the bid evaluation price, arrange the contract between the bidder and the employer to provide sufficient funds during the construction process to pay the “contract price”. The cost required to complete the work outside the balance includes the compensation that the guarantor is responsible for, but the total amount does not exceed the amount mentioned in the first paragraph above. The term "contract balance" as used herein refers to the amount that the employer has paid to the contractor in accordance with the total amount of the contract reduced to the contractor; or
3. Pay the amount required by the employer to complete the contract on contractual terms, but not exceed the limit of this guarantee.
This guarantor does not assume any liability greater than the limit of this guarantee. Any action relating to this warranty must be made within one year of the issuance of the defect liability certificate. Except for the employer, no one has the right to make a performance request for the responsibility of this guarantee. The legal representative of the contractor and the guarantor hereby signs the official seal to prove it.
Guarantor: _________ Contractor: _________
Representative: ___________ Representative: ___________
_________Year _____Month_____ Day _________Year _____Month_____ Day Signing Location: _______________ Signing Location: _______________