Performance Guarantee

(Template for performance guarantee issued by a credit institution)

We have been informed that on … you, as Beneficiary, have concluded the contract no. … (hereinafter
called the "Contract") with … (hereinafter called the "Contractor") for … for a total price …
According to the Contract, the Contractor is required to provide a performance guarantee for 10% of the
total Contract value (without VAT).

This being stated, we … [the “Guarantor”] …, having our address in … and Fiscal Registration Code
(CUI) …, and the Register of Commerce no …, without any formality from your side and without having
the right for any objection from the Contractor or from our part, we irrevocably undertake to pay any
amount up to the amount of:

(currency and amount) …

(in full letters: …)1

The payment will be made by the Guarantor unconditionally, at Beneficiary's first written request, based
on its statement regarding the Contractor’s fault and without any obligation from Beneficiary’s part to
prove or to show grounds for its request.

For identification purpose, your written request for payment, your written confirmation and any
correspondence associated to this guarantee have to be submitted through your bank, confirming that the
signatures are legally binding upon your company.

Your written request for payment and written confirmation are taken into account if these documents are
sent to us through authenticated SWIFT message with confirmation that your written request for payment
and your written confirmation, in original form, were sent to our counter mentioned below through fast
courier and that the signatures included are legally binding upon your company.

Our letter of guarantee is valid until … and expires in full and automatically, irrespective of whether the
present document is returned to our offices or not, in case your above mentioned written request for
payment and your written confirmation or the authenticated SWIFT message, shall not be in our
possession by that date, to our counter in … [the Guarantor address] …

Only if necessary, this letter of performance guarantee will become void before the expiry date mentioned
in the preceding paragraph, simply return of the original letter of performance guarantee and originals of
any subsequent changes (if any such changes) be accompanied by a written notification from you or from
the Contractor, requesting it’s cancellation.

This letter of guarantee is subject to the Uniform Rules for Demand Guarantees, Publication no. 758
International Chamber of Commerce in Paris.

This guarantee was issued in one original.

Issuing Bank
Authorised signatures

1
in case of bank guarantees issued in EUR or USD by Romanian credit institutions, pls insert “ in RON at the
exchange rate EUR/RON or USD/RON (as the case may be) of the National Bank of Romania valid on the day of
payment”.