Form of Performance Guarantee for Contract Execution in Specialized Aviation Service Facility Investment Projects

Pursuant to Part 2 Appendix III promulgated together with Circular 23/2021/TT-BGTVT (Effective from December 25, 2021) contract performance guarantee form for investment projects in aviation service works as follows:

CONTRACT PERFORMANCE GUARANTEE^(1)^

(Location), day month year____

To: **** [name of the competent state authority signing the contract]

(hereinafter referred to as the Competent State Authority Signing the Contract)

At the request of [name of the investor] who is the approved investor to execute the project [name of the project] (hereinafter referred to as the Investor) and committing to signing the contract to execute the aforementioned project (hereinafter referred to as the Contract);^(2)^

According to the provisions in the investor approval request dossier (or contract), the Investor must submit to the Competent State Authority Signing the Contract a bank guarantee with a specific amount to ensure its obligations and responsibilities in performing the Contract;

We, [name of the bank] in [name of the country or territory] with registered office at [bank address (3)], hereby commit to guarantee the performance of the Investor's Contract with the amount of [specify the amount in numbers, in words, and the currency used as required by Section 12 CDNDT].

We undertake to unconditionally and irrevocably pay to the Competent State Authority Signing the Contract an amount or amounts totaling [in words] [in numbers] as stated above, upon receiving notification from the Competent State Authority Signing the Contract that the Investor has violated the Contract within the validity period of this performance guarantee.

This guarantee is effective from to the end of .^(4)^

Legal Representative of the Bank*[name, position, signature, and seal]*

Notes:

(1) Applicable only when the performance guarantee measure is a bank or credit institution guarantee letter.

(2) If the guaranteeing bank or credit institution requires a signed contract to issue a guarantee, the Civil Aviation Authority of Vietnam will report to the competent state authority signing the contract for consideration and decision. In this case, the above paragraph can be amended as follows:

"At the request of [name of the investor] who is the approved investor to execute the project [name of the project] (hereinafter referred to as the Investor) has signed contract number [contract number] dated month year (hereinafter referred to as the Contract)."

(3) Bank or credit institution address; clearly state the address, phone number, fax number, and email for contact.

(4) State the appropriate duration as required by Section 20 CDNDT.

Sincerely!