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    Letter of Guarantee: To: XXX CR: XXX Riyadh, KSA Attention: XXXX

    Uploaded by

    NORAH ALGOBLAN
    This letter guarantees payment of a 2% commission fee to the recipient if a contract for a commercial and residential center project in Riyadh, KSA is awarded to the letter writer. The fee is payable for the recipient's efforts in studying and preparing the bid package. The guarantee is valid for 12 months from the date of signature or until the project award/cancellation date. Payment of the commission becomes obligatory if a contract is signed and will be paid in proportion to the project contract value. Any disputes will be settled via arbitration under Saudi law.

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    © All Rights Reserved
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    Letter of Guarantee: To: XXX CR: XXX Riyadh, KSA Attention: XXXX

    Uploaded by

    NORAH ALGOBLAN
    502 views2 pages
    This letter guarantees payment of a 2% commission fee to the recipient if a contract for a commercial and residential center project in Riyadh, KSA is awarded to the letter writer. The fee is payable for the recipient's efforts in studying and preparing the bid package. The guarantee is valid for 12 months from the date of signature or until the project award/cancellation date. Payment of the commission becomes obligatory if a contract is signed and will be paid in proportion to the project contract value. Any disputes will be settled via arbitration under Saudi law.

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    Letter of Guarantee Draft

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    This letter guarantees payment of a 2% commission fee to the recipient if a contract for a commercial and residential center project in Riyadh, KSA is awarded to the letter writer. The fee is payable for the recipient's efforts in studying and preparing the bid package. The guarantee is valid for 12 months from the date of signature or until the project award/cancellation date. Payment of the commission becomes obligatory if a contract is signed and will be paid in proportion to the project contract value. Any disputes will be settled via arbitration under Saudi law.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    502 views2 pages

    Letter of Guarantee: To: XXX CR: XXX Riyadh, KSA Attention: XXXX

    Uploaded by

    NORAH ALGOBLAN
    This letter guarantees payment of a 2% commission fee to the recipient if a contract for a commercial and residential center project in Riyadh, KSA is awarded to the letter writer. The fee is payable for the recipient's efforts in studying and preparing the bid package. The guarantee is valid for 12 months from the date of signature or until the project award/cancellation date. Payment of the commission becomes obligatory if a contract is signed and will be paid in proportion to the project contract value. Any disputes will be settled via arbitration under Saudi law.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Letter of Guarantee

    To : xxx
    CR: xxx
    Riyadh, KSA
    Attention: xxxx

    Dear Sir,

    We xxxx , hereby guarantee to pay you a commission fee of Two percent (2


    %) of the total value of xxxxx awarded to us from this project which will be
    located in xxxx

    This fee is payable to you in recognition of being mediators, and efforts to us


    in studying and preparing of the bid package for the above project.

    This fee is conditional to the following:

    a) xxxx is awarded and signed the contract of Commercial and


    residential Centre’s Project If a contract is not signed, you are not
    entitled for any payment whatsoever.

    b) This Letter of guarantee is valid only for All xxxx projects in xxxx
    project.

    c) This Letter of guarantee is valid for a period of twelve (12) months


    from date of its signature. However, if the project to postpone the
    date of submission or award of the project, then this letter of
    guarantee is valid until either the projects award the it to contractor
    or cancels the bid. This letter of guarantee is valid for any re-bid
    requested by the owner for the all projects.

    d) In the event of Award of contract to us, we may not withheld your


    payments for whatever reason it may be, your payment become
    obligatory upon us in the event of successful signature of the
    contract with Main Investor for this project.

    e) Your fees will be paid to you in pro-rata basis from signing the
    project contract with Main Investor. The fees will be paid in in pro-
    rata basis equal to 2% percentage of the total value of the contract.

    f) We may not cancel this guarantee letter unilaterally prior to its


    expiry date.
    g) Your obligation has been to assist and help in studying and advising
    on bid package and to help us if needed in the negotiation in the
    event of award of contract to us.

    h) Neither you are requested to present any documents nor you are
    requested to correspond with us in writing for effecting your
    payment. The only condition is the successful award of contract by
    Project investors to us during the validity of this guarantee letter.

    i) In the event of any disagreement on the terms of this guarantee


    letter, arbitration is to be done as per the Saudi law in Saudi Arabia.
    The arbitration verdict shall be final and acceptable to both parties.

    Authorized Person,

    Position

    Signature

    Date,

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