Performance Bond Agreement Short version

THIS BOND is made the [Insert date in form “Day number”] day of [Insert “Month, Year”] BETWEEN [Insert name of Organisation] whose registered office is situated at [Insert address] (hereinafter called "the Guarantor") of the one part and the [Insert name of Institution] of [Insert address] (hereinafter called "the Institution" of the other part. WHEREAS (1) [Insert name of Firm providing the product(s)] of [Insert address] (hereinafter called "the Contractor") and the Institution are parties to a binding Agreement for the provision of [Insert details of product(s)] upon the Terms and Conditions of the Contract attached to the Institution's Invitation to Tender. (2) By the conditions of tender the Contractor is bound to enter into a written agreement for the provision of the said services in the terms of the said Contract and to provide a Bond for the due performance of the Contract.