Performance Security (Demand Guarantee)

Option 2: with relinquishing the Clause 1832 of Indonesian Civil Law ________________________________ [Banks Name, and Address of Issuing Branch or Office] Beneficiary: ___________________ [Name and Address of Employer] Date: ________________ relinquish PERFORMANCE GUARANTEE No.: _________________ We have been informed that ________________ [name of Contractor] (hereinafter called "the Contractor") has entered into Contract No. _____________ [reference number of the contract] dated ____________ with you, for the execution of _____________________ [name of contract and brief description of Works] (hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, a performance guarantee is required. At the request of the Contractor, we _______________ [name of Bank] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of ___________ [amount in figures] ( ) [amount in words],1 such sum being payable in the types and proportions of currencies in which the Contract Price is payable, upon receipt by us of your first demand in writing accompanied by a written statement stating that the Contractor is in breach of its obligation(s) under the Contract, without your needing to prove or to show grounds for your demand or the sum specified therein. This guarantee shall expire, is valid from the ..Day of ., 2.. [date of the signing of the contract] to the . Day of , 2.. [28 days after the expected date of the end of defect notification period] and any demand for payment under it must be received by us at this office on or before that date. With reference to Clause 1832 of the Indonesian Civil Law (Kitab Undang-Undang Hukum Perdata) herewith we reaffirm that the Guarantor shall relinquish the special rights of claim on assets belonging to the Principal and for seizure and sale of such assets for the discharge of his debts as required in Clause 1831 of the Indonesian Civil Law. ___________________ [signature(s)] Note: All italicized text (including footnotes) is for use in preparing this form and shall be deleted from the final product.

The Guarantor shall insert an amount representing the percentage of the Contract Price specified in the Contract and denominated either in the currency(cies) of the Contract or a freely convertible currency acceptable to the Employer.

Advance Payment Security (Demand Guarantee)

Option 2: with relinquishing the Clause 1832 of Indonesian Civil Law ________________________________ [Banks Name, and Address of Issuing Branch or Office] Beneficiary: ___________________ [Name and Address of Employer] _________________ Date: ________________ ADVANCE PAYMENT GUARANTEE No.: We have been informed that ________________ [name of Contractor] (hereinafter called the Contractor) has entered into Contract No. _____________ [reference number of the contract] dated ____________ with you, for the execution of _____________________ [name of contract and brief description of Works] (hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, an advance payment in ) [amount in words] is to be made against an the sum ___________ [amount in figures] ( advance payment guarantee. At the request of the Contractor, we _______________ [name of Bank] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of ___________ [amount in figures] ( ) [amount in words]1 upon receipt by us of your first demand in writing accompanied by a written statement stating that the Contractor is in breach of its obligation under the Contract because the Contractor used the advance payment for purposes other than the costs of mobilization in respect of the Works. It is a condition for any claim and payment under this guarantee to be made that the advance payment referred to above must have been received by the Contractor on its account number ___________ at _________________ [name and address of Bank]. The maximum amount of this guarantee shall be progressively reduced by the amount of the advance payment repaid by the Contractor as indicated in copies of interim statements or payment certificates which shall be presented to us. This guarantee shall expire, at the latest, upon our receipt of a copy of the interim payment certificate indicating that eighty (80) percent of the Contract Price has been certified for payment, or on the ___ day of _____, ___, whichever is earlier. Consequently, any demand for payment under this guarantee must be received by us at this office on or before that date.. With reference to Clause 1832 of the Indonesian Civil Law (Kitab Undang-Undang Hukum Perdata) herewith we reaffirm that the Guarantor shall relinquish the special rights of claim on assets belonging to the Principal and for seizure and sale of such assets for the discharge of his debts as required in Clause 1831 of the Indonesian Civil Law. ____________________ [signature(s)] Note: All italicized text (including footnotes) is for use in preparing this form and shall be deleted from the final product.

The Guarantor shall insert an amount representing the amount of the advance payment and denominated either in the currency(ies) of the advance payment as specified in the Contract, or in a freely convertible currency acceptable to the Employer.

Retention Money Security (Demand Guarantee)

[insert Banks Name, and Address of Issuing Branch or Office] Beneficiary: [insert name and address of the Employer]

Date: ________________ RETENTION MONEY GUARANTEE No.: _________________

We have been informed that [insert name of Contractor] (hereinafter called "the Contractor") has entered into Contract No. [insert reference number of the contract] dated [insert date of the contract] with you, for the execution of Tanjung Priok Access Road Project Section E-2: Cilincing~Jampea (Sta 3+400~Sta 6+142) (hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, when the Taking-Over Certificate has been issued for the Works and the first half of the Retention Money has been certified for payment, payment of [insert the second half of the Retention Money or if the amount guaranteed under the Performance Guarantee when the Taking-Over Certificate is issued is less than half of the Retention Money, the difference between half of the Retention Money and the amount guaranteed under the Performance Security] is to be made against a Retention Money guarantee. At the request of the Contractor, we [insert name of Bank] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [insert amount in figures] ([amount in words])1 upon receipt by us of your first demand in writing accompanied by a written statement stating that the Contractor is in breach of its obligation under the Contract. It is a condition for any claim and payment under this guarantee to be made that the payment of the second half of the Retention Money referred to above must have been received by the Contractor on its account number [insert account number] at [insert name and address of Bank]. This guarantee shall expire, at the latest, 21 days after the date when the Employer has received a copy of the Performance Certificate issued by the Engineer. Consequently, any demand for payment under this guarantee must be received by us at this office on or before that date. This guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 458.

____________________

[signature(s)]
[Note: All italicized text (including footnotes) is for use in preparing this form and shall be deleted from the final product.]