Shell Crux Project

ITT for Provision of EIT Work

EXHIBIT – E

SPECIMEN OF PERFORMANCE
GUARANTEE
 Shell Crux Project

ITT for Provision of EIT Work

PERFORMANCE GUARANTEE

DATE:

To : Seatrium (SG) Pte Ltd

Registered Address : 80 Tuas South Boulevard, Singapore 637051

Bank Guarantee to be delivered to place of : 60 Admiralty Road West, Singapore 759947

Business

WHEREAS you have entered into a contract dated [dd/mm/yyyy] (hereinafter referred to as the “SUBCONTRACT”) with [
] (hereinafter referred to as the “SUBCONTRACTOR”) for the provision of Electrical, Instrument and Telecom
Work (the “WORK”).
The SUBCONTRACT provides that the SUBCONTRACTOR shall furnish a banker’s guarantee for 5% of the
SUBCONTRACT PRICE as defined in the SUBCONTRACT.
Now therefore at the request of and for the account of the SUBCONTRACTOR, we [INSERT NAME] Bank, irrevocably and
unconditionally undertake to pay you without delay on your first written demand any amount claimed by you from time to time
up to a maximum amount of [●].
This Banker’s Guarantee is issued by us without any right of set-off or counterclaim, whether on our behalf or on behalf of the
SUBCONTRACTOR, and without any requirement that prior notice or demand be given to the SUBCONTRACTOR. Your
demand shall be conclusive evidence of our indebtedness under this Banker’s Guarantee.
Any payment(s) made by us hereunder shall be made free and clear of, and without deduction for or on account of, any
present or future taxes, levies, imposts, duties, charges, fees, deductions or withholding of any nature whatsoever and by
whomsoever imposed.
Our obligations hereunder shall not be diminished or otherwise affected by any alteration, modification or amendment of the
SUBCONTRACT.
We agree that you shall not be required to pursue any claim against the SUBCONTRACTOR before making demand on us
and we shall make payment hereunder notwithstanding any objections or contests by the SUBCONTRACTOR.
This Banker’s Guarantee shall be valid from the date hereof until thirty (30) days after the expiry of the warranty period under
the SUBCONTRACT, or until [●], whichever is the earlier.
This Guarantee shall be governed by and construed in accordance with the laws of the Republic of Singapore and shall be
enforceable through the courts in Singapore.

Signed by

__________________________
Name
Designation
For and on behalf of
Bank
1.