Beneficiary:

[BENEF NAME1]
[BENEF NAME2]
registered office:
[BENEF ADDR2 SW]
[BENEF ADDR1 SW]

Budapest, [CIB DATE]

OM/[OPERATOR ID]
Pages 1/2

PERFORMANCE BANK GUARANTEE NO. [DEPARTMENT][OUR REFERENCE]

1.
Our customer has informed us that our customer, [ORDERER NAME1] [ORDERER
NAME2] (registered seat: [ORDERER ADDR2 SW], [ORDERER ADDR1 SW], company
registration number: ..............; hereinafter: Principal) concluded an agreement under no.
[AGREEMENT NUMBER] (hereinafter: Agreement) with you (hereinafter: Beneficiary) on [DATE]
concerning [SPECIFICATION OF THE SUBJECT OF THE AGREEMENT].
2.
Our customer has informed our bank about the fact that pursuant to the Agreement, the
Principal is required to have a bank guarantee issued in the amount of [TRANSACTION CCY]
[TOTAL AMOUNT] as security for the performance of its obligations.
3.
In view of the above we, CIB Bank Zrt. (1027 Budapest, Medve u. 4-14., hereinafter:
Bank), on assignment from the Principal herewith undertake an unconditional and irrevocable
obligation to pay you an amount not exceeding
[TRANSACTION CCY] [TOTAL AMOUNT]
(that is:)
without delay, upon your first written demand, without any examination of the underlying legal
relationship and irrespective of any objections that may be raised by the Principal, by ourselves or
by any third party and notwithstanding any objection raised or dispute started by any third party,
provided that in your statement of claim you have declared that during the validity period of this
bank guarantee, despite your direct call, the Principal has failed to fulfil its therein specified
contractual obligation in the period open for performance. Attached as an annex to your statement
of claim, submit a copy of your written call to the Principal in which you specify the
works/correction to be performed and their value , and a copy of the document that certifies the
posting or delivery of such a call (certificate of posting, notice of receipt or acknowledgement of
receipt).
In the event that a demand for payment is submitted against this bank guarantee, the Bank shall
examine the submitted demand for payment and the documents related thereto, if any, within 5
(five) banking days following receipt thereof, and if the demand for payment and the documents
have been submitted in accordance with the requirements set forth in the bank guarantee, it shall
fulfil its payment obligation within an additional 3 (three) banking days to the bank account
specified by the Beneficiary.
4.
We shall fulfil your claim in relation to this bank guarantee by transfer, in accordance with
your demand sent to the Bank in writing, bearing your company signature, to the bank account
number specified therein. Please forward your properly signed statement of claim to our Bank via
your account managing bank, with your account managing bank confirming to our Bank via an
authenticated SWIFT message that the statement of claim has been signed in a manner
corresponding to the signature of the person(s) registered with it, your account managing bank, as
a representative (as representatives) with company signatory rights (authentication of company
signature). The Bank will not accept any claim sent by telephone, fax, email or via any other
telecommunications device.

PERFORMANCE BANK GUARANTEE NO. [DEPARTMENT][OUR REFERENCE]

Pages 2/2
5.
This bank guarantee may be exercised in a single amount or in instalments, in accordance
with your request; however, the aggregate amount of payments performed by the Bank on the
basis of this bank guarantee may not exceed the available amount of this bank guarantee as
specified above. All payments made on the basis of this bank guarantee shall automatically reduce
the available amount of the bank guarantee.
6.
The claims arising under this bank guarantee may only be assigned, transferred, pledged
or otherwise encumbered with the preliminary written consent of the Bank.
7.
Should you and the Principal agree to change your contractual partner by amendment of
the Agreement, the Bank shall only make payments under this bank guarantee if the Bank has
given its written consent to the amendment of the Agreement providing for the legal succession of
the Principal by another contractual partner and to the corresponding amendment of the guarantee
agreement and this bank guarantee, in which case both the guarantee agreement and this bank
guarantee shall be amended accordingly.
8.
This bank guarantee shall be valid and effective in respect of the obligations arising from
[START DATE OF VALIDITY] until its original copy is returned to and received by the Bank, but in
any case no later than [EXPIRY DATE (GUAR)] (hereinafter: Expiry Date). Your statement of
claim and the documents to be attached thereto as per this bank guarantee must be received by
the Bank at its address (1024 Budapest, Petrezselyem u. 2-8.) no later than on the said date or if
the said date is a holiday or a bank holiday, then on the banking day immediately preceding it ,
during public opening hours, but by 3 p.m. at the latest. Both the statement of claim and the
signature authentication specified in this bank guarantee must be received by the Bank with an
acknowledgement of receipt by the Bank no later than by the Expiry Date to ensure that the Bank
can satisfy its payment obligation set out in this bank guarantee. After the said date, all of the
Banks obligations arising from the bank guarantee shall automatically cease, irrespective of
whether the original bank guarantee is returned to the Bank or not. This bank guarantee shall also
cease if, prior to the Expiry Date, you or the Principal return to the Bank the original of this bank
guarantee. This bank guarantee shall also lose its effect if you deliver to the Bank a properly
signed waiver, in the original, with confirmation by your account managing bank, in an
authenticated SWIFT message of the authenticity of the signatures placed thereto
(authentication of proper company signature), in which waiver you irrevocably and
unconditionally relieve the Bank of its obligations undertaken in this bank guarantee.
9.
This bank guarantee and all rights and obligations arising on the basis of this bank
guarantee shall be governed by Hungarian law, as well as the provisions of URDG regulations (
Uniform Rules for Demand Guarantees), set forth in publication no. 758 of the International
Chamber of Commerce.
10.

This bank guarantee was drawn up in one original.

Made: Budapest, [CIB DATE]

On behalf and in representation of CIB Bank Zrt.: