Engineering Performance Bond

Date: [Insert Date]

To: [Name of Obligee]
[Address of Obligee]

From: [Name of Principal]
[Address of Principal]

Subject: Engineering Performance Bond

Dear [Name of Obligee],

We are writing to provide you with the Engineering Performance Bond as stipulated in our contractual agreement for the [Project Name] project. This performance bond is intended to guarantee the satisfactory completion of all engineering works outlined in the contract.

The undersigned, [Name of Principal], as the principal, and [Surety Company Name], as the surety, hereby agree to be jointly and severally bound to you, the obligee, in the amount of [Bond Amount]. This bond is valid from [Date] and will remain in force until [Expiry Date of Bond] unless terminated earlier in accordance with the terms and conditions set forth herein.

In the event that the principal fails to fulfill any obligations stated in the contract regarding the engineering works, [Surety Company Name] undertakes to pay you, the obligee, an amount up to the full sum of the bond mentioned above. This payment will be made upon receipt of a written demand from you certifying that the principal has defaulted on their contractual obligations.

This bond is subject to the following terms and conditions:

1. The bond remains valid until the total completion of the project as stated in the contract.
2. In the event of any default by the principal, the obligee must promptly notify the surety company in writing.
3. The surety reserves the right to investigate any claim made against this bond.
4. The liability of the surety is limited to the amount mentioned in this bond.
5. This bond cannot be assigned or transferred without prior written approval from the surety company.

Please keep this bond in a safe and secure location, as it serves as an important guarantee of our commitment to complete the engineering works outlined in our agreement.

If you have any questions or require further information, please do not hesitate to contact us at [Principal Contact Information].

Thank you for your attention to this matter.

Sincerely,

[Name of Principal]
[Title of Principal]