Administrator

To : Administrator
Supply Administration. The Republic of Korea

Memorandum of Payment

Inv. No :
Commodity :
Date of Bid :

We, the undersigned, hereby guarantee that if awarded a contract we will perform faithfully the requirements of the contract. Should we refuse to conclude the contract or should we fail to establish a performance bond in accordance with the contractual conditions, we guarantee to pay SAROK immediately an amount equivalent to five percent of the total bid value.

We further guarantee that we will not claim against or appeal to SAROK in relation to any unfavorable action which may be taken against us by SAROK on the grounds that we have not complied with the above conditions.

Signature
Name and Title

[hwp/doc/pdf]Administrator