LETTER OF GUARANTEE
Reference: Guarantee No [MD007500157]
Subject: Financial guarantee for the repayment of pre-financing payable under grant agreement [MD007500157] for the implementation of the action [insert title and acronym of the action]
We, the undersigned, [OCBC BANK KUALA LUMPUR MALAYSIA] hereby irrevocably declare that we jointly and severally guarantee as primary guarantor on behalf of OCBC BANK MALAYSIA (hereafter referred to as “the [beneficiary]”) payment to the Agency of $970 of the pre-financing in USD,] corresponding to the guarantee referred to in Article I.5.1 of the agreement] signed between the [co-ordinator / co-beneficiary] and the Agency (hereafter referred to as “the agreement”).
Payment shall be made without objection or legal proceedings of any kind, upon receipt of your first written claim, sent by registered letter with advice of delivery or equivalent, stating that the [co-ordinator / co-beneficiary] has not fulfilled one of his contractual obligations. We shall not delay the payment, nor shall we oppose it for any reason whatsoever. We shall inform you in writing as soon as payment has been made.
Furthermore, we accept that no amendment to the terms of the agreement signed between the Agency and the [co-ordinator / co-beneficiary] can release us from our obligation under the present guarantee. We waive our right to be informed of any change, addition or amendment to the agreement.
We have taken note that the present financial guarantee shall remain in force until the Agency has made the payment of the balance of the grant pursuant to the provisions of Article I.5.3 of the agreement. The Agency undertakes to release the guarantee within sixty (60) days following that payment.
The present guarantee is governed by the law applicable to the agreement. The courts having jurisdiction for matters relating to the agreement shall have jurisdiction in respect of matters relating to this guarantee.
The present guarantee shall come into force and shall take effect upon its signature.
Done at [High Court of Justice Kuala Lumpur Malaysia], on [5/25/2017]
[Signature]
Mr.Jeffrey Binsan
Witness Name: Tun Arifin Zakaria
Address: J-3A-16, Solaris Mont Kiara (SOHO KL), Jalan Solaris, Mont Kiara, 50480 Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia
Mr.Tun Arifin Zakaria
Address: J-3A-16, Solaris Mont Kiara (SOHO KL), Jalan Solaris, Mont Kiara, 50480 Kuala Lumpur, Federal Territory of Kuala Lumpur, Malaysia
