DRAFT FOR A SAMPLE CORPORATE GUARANTEE

[Date]

(name of Company)
[address]

Dear Sirs,

LETTER OF GUARANTEE NO.

ISSUED ON BEHALF OF ,(name )…….. of……(address)…….. (hereinafter referred to as the

"Contractor")

We, …(name of Corporat)D of No …(address)… , a company incorporated in Sri Lanka (the

“Guarantor”) in consideration of good and valuable consideration, hereby guarantee, undertake, bind
and oblige ourselves to pay you, ………………………. (the Company), on first demand, a sum or sums
not exceeding Sri Lanka Rupees …(amount of Bank Guarantee)... (Rs ……..) which may become
payable to the Company by the Contractor on account of … (reason for Guarantee.. Eg Advance
Payment, Credit etc) ... despite any contestation on the part of the Contractor. The Guarantor hereby
confirms that payment under this guarantee will not be denied by reference to the beneficium excursionis
sue ordinis and/or any other benefits privileges and exceptions to which sureties are by law entitled.

A demand under the hand of an Authorized Officer of the Company shall be conclusive evidence of the
amount due, provided however that the amount due shall not exceed the limit aforesaid.

The obligation of the Guarantor hereunder shall be unconditional and irrevocable and shall not be
amended or affected by any indulgence or forbearance of the Company , to the Contractor.

Any payment made by the Guarantor to the Company, pursuant to this guarantee below Sri Lanka
Rupees ……………(Rs ………) shall be a pro tanto discharge of the liability of the Guarantor hereunder
and this guarantee shall remain valid and effectual in respect of the remainder.

We specifically agree that you shall be at liberty either in one action to sue the Contractor and us and
also any other person or persons jointly and severally or to proceed in the first instance against us only
and further that we hereby renounce the right to claim that the Contractor should be excused or
proceeded against by action in the first instance and the right to claim that you should divide your claim
and bring actions against us or any other person or persons whomsoever each for his portion pro rata
and the right to claim in any action brought against us with or without all or any other persons that you
should only recover from us a pro rata share of the amount claimed and all other rights and benefits to
which guarantors or sureties are or may be by law entitled, IT BEING AGREED that we are liable in all
respects hereunder as principle debtor to the extent aforementioned including the liability to be sued
before recourse is had against the Shipper.”

This guarantee shall be valid upto and including ....... day of ..... 200.. Such period of validity may be
extended from time to time so as to keep this guarantee in full force up to such further extended times
and dates as may be required by the Company.

This guarantee shall be in addition to and not in substitution for any other guarantee for the Contractor
given by us to you at any time.

This guarantee shall be governed by and construed in all respects in accordance with the laws of the
Republic of Sri Lanka.

Yours faithfully
FOR ……………. PLC
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AUTHORIZED OFFICER AUTHORIZED OFFICER