DeedSurety

PRO FORMA DEED OF SURETYSHIP

Contract No ..............................................

WHEREAS ..............................................................................................................................................................................
(hereinafter referred to as "the Employer") entered into, on the ........................................................................ day of
....................................................... , a Contract with ...............................................................................................................
(hereinafter called "the Contractor") for the construction of ...........................................................................................
....................................................................................................................................................................................................
at ................................................................................................................................................................................................

AND WHEREAS it is provided by such Contract that the Contractor shall provide the Employer with security by way of suretyship for the due and faithful fulfilment of such Contract by the Contractor;

AND WHEREAS .......................................................................................................................................................................
has/have at the request of the Contractor, agreed to give such security;

NOW THEREFORE WE, ........................................................................................................................................................
do hereby guarantee and bind ourselves jointly and severally as Sureties and Co-principal Debtors to the Employer under renunciation of the benefits of division and excussion for the due and faithful performance by the Contractor of all the terms and conditions of the said Contract, subject to the following conditions:

1. The Employer shall, without reference and/or notice to us, have comp1ete liberty of action to act in any manner authorised and/or contemplated by the terms of the said Contract, and/or to agree to any modifications, variations, alterations, directions or extensions of the Due Completion Date of the Works under the said Contract, and that its rights under this guarantee shall in no way be prejudiced nor our liability hereunder be affected by reason of any steps which the Employer may take under such Contract, or of any modification, variation, alterations of the Due Completion Date which the Employer may make, give, concede or agree to under the said Contract.

2. The Employer shall be entitled, without reference to us, to release any securities held by it, and to give time to or compound or make any other arrangement with the Contractor.

3. This guarantee shall remain in full force and effect until the issue of the Certificate of Completion in terms of the Contract, unless we are advised in writing by the Employer before the issue of the said Certificate of his intention to institute claims, and the particulars thereof, in which event this guarantee shall remain in full force and effect until all such claims have been paid or liquidated.

4. Our total liability hereunder shall not exceed the sum of ..................................................................................................

............................................................................

(R ..................................................................................................................)

5. We hereby choose domicilium citandi et executandi for all purposes arising hereof at ...............................................

IN WITNESS WHEREOF this guarantee has been executed by us at ...................................................................... on this
.................... day of .............................................................................. 20.....

As witnesses:

1 . .............................................. Signature ...........................................................................
2 . .............................................. Duly authorised to
sign on behalf of ..............................................................
Address .............................................................................
..............................................................................................

Copyright: South African Institution of Civil Engineering.

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	PRO FORMA DEED OF SURETYSHIP Contract No .............................................. WHEREAS .............................................................................................................................................................................. (hereinafter referred to as "the Employer") entered into, on the ........................................................................ day of ....................................................... , a Contract with ............................................................................................................... (hereinafter called "the Contractor") for the construction of ........................................................................................... .................................................................................................................................................................................................... at ................................................................................................................................................................................................ AND WHEREAS it is provided by such Contract that the Contractor shall provide the Employer with security by way of suretyship for the due and faithful fulfilment of such Contract by the Contractor; AND WHEREAS ....................................................................................................................................................................... has/have at the request of the Contractor, agreed to give such security; NOW THEREFORE WE, ........................................................................................................................................................ do hereby guarantee and bind ourselves jointly and severally as Sureties and Co-principal Debtors to the Employer under renunciation of the benefits of division and excussion for the due and faithful performance by the Contractor of all the terms and conditions of the said Contract, subject to the following conditions: 1. The Employer shall, without reference and/or notice to us, have comp1ete liberty of action to act in any manner authorised and/or contemplated by the terms of the said Contract, and/or to agree to any modifications, variations, alterations, directions or extensions of the Due Completion Date of the Works under the said Contract, and that its rights under this guarantee shall in no way be prejudiced nor our liability hereunder be affected by reason of any steps which the Employer may take under such Contract, or of any modification, variation, alterations of the Due Completion Date which the Employer may make, give, concede or agree to under the said Contract. 2. The Employer shall be entitled, without reference to us, to release any securities held by it, and to give time to or compound or make any other arrangement with the Contractor. 3. This guarantee shall remain in full force and effect until the issue of the Certificate of Completion in terms of the Contract, unless we are advised in writing by the Employer before the issue of the said Certificate of his intention to institute claims, and the particulars thereof, in which event this guarantee shall remain in full force and effect until all such claims have been paid or liquidated. 4. Our total liability hereunder shall not exceed the sum of .................................................................................................. ............................................................................ (R ..................................................................................................................) 5. We hereby choose domicilium citandi et executandi for all purposes arising hereof at ............................................... .................................................................................................................................................................................................... IN WITNESS WHEREOF this guarantee has been executed by us at ...................................................................... on this .................... day of .............................................................................. 20..... As witnesses: 1 . .............................................. Signature ........................................................................... 2 . .............................................. Duly authorised to sign on behalf of .............................................................. Address ............................................................................. .............................................................................................. Copyright: South African Institution of Civil Engineering.
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