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Sample Document Parent Company Guarantee

last updated: 10th June 2011

Sample Document Parent Company Guarantee.doc

29KB

NOW IT IS HEREBY AGREED AND DECLARED as follows:-
1. The Guarantor hereby:-
1.1 guarantees to the Client as primary obligor the due and proper performance by the Contractor of each and every obligation of the Contractor arising under the Contract;
1.2 agrees that if the Contractor shall in any respect fail to perform any of its obligations arising under the Contract or shall commit any breach of or fail to fulfil any warranty or indemnity set out in the Contract, then the Guarantor shall immediately perform and fulfil in the place of the Contractor each and every obligation, warranty or indemnity in respect of which the Contractor has defaulted or as may be unfulfilled by the Contractor, and the Guarantor shall indemnify and save harmless the Client from and against any and all losses, damages, expenses, liabilities, claims, costs or proceedings which the Client may suffer of incur by reason of the said failure or breach, providing always that the liability of the Guarantor shall in no case exceed that of the Contractor as determined by reference to the terms and conditions of the Contract;

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