17/6/2014
M/s. Tecnias Reuniclas SA + Six Construction LLC, JV
P.O. Box: 61, Sohar
P.C. 327,
Sultanate of Oman
Our Reference : Advance Payment Guarantee No. 14/ADV/176352
Amount : OMR 254,102.600
Applicant : Petron Gulf LLC
P.O. Box 1297, Al Athaiba
Postal Code: 130
Sultanate of Oman
Sub: Supply, Installation and Commissioning of electro Chlorination Plant for Second Seawater intake Pumping Station (SWIPS II) at Sohar Industrial Area
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Whereas M/s. Petron Gulf LLC, P.O. Box: 1297, Al Athaiba, P.C. 130, Sultanate of Oman, (hereinafter called the Contractor) has been awarded a contract dated 19TH December 2013, for Supply, Installation and Commissioning of Electro Chlorination plant for Second Seawater intake Pumping Station (SWIPS II) at Sohar Industrial Port Area “for the value of OMR. 2,541,026.000 (Omani Rials Two Million Five Hundred Forty One Thousand Twenty Six Only), and in consideration of your making an advance payment of OMR 254,102.600 (Omani Rials Two Hundred Fifty Four Thousand One Hundred Two and Baizas Six Hundred Only) to the Contractor being 10% of the contract value, by this bond, we Bank Muscat S.A.O.G., whose address is P.O. Box 134, Ruwi, Sultanate of Oman guarantee to pay you a sum not exceeding OMR 254,102.600 (Omani Rials Two Hundred Fifty Four Thousand One Hundred Two and Baizas Six Hundred Only) on your first written demand without any reference to our contestation on behalf of the M/s. Petron Gulf LLC., P. O. Box: 1297, Al Athaiba P.C. 130, Sultanate of Oman.
It is understood that our liability towards you will be progressively reduced by the amount repaid to you by the Ms. Petron gulf LLC., P. O. Box: 1297, Al Athaiba P.C. 130, Sultanate of Oman as contained In the certificate and payments against the said Advance Payment.
This bond will be effective only upon receipt of the above mentioned payment amount into the contractors account No. 0423010700340017 with us and shall be valid until the amount of the advance payment is fully repaid.
This bond should be returned to us upon its expiry or upon fulfillment of our undertaking whichever is the earliest.
For Bank Muscat SAOG
AUTHORISED SIGNATORIES.