We, the undersigned Asia Commercial Bank, Phu Lam Branch (Guarantor), in order to enable Tuan An Electric Equipment Joint-Stock Company To bid for Package No. CPC-KFW2-MV-G04 - Supply of Insulators, Accessories and switching Equipment (project, object of contract), hereby irrevocably and independently guarantee to pay to you an amount up to a total of VND 415,000,000 (Four hundred fifteen million Vietnamese Dongs).Waiving all objection and defences .We shall effect payments under this guarantee on your first written demand, which must be accompanied by your confirmation that you have accepted the above-mentioned bid and that the firm Tuan An Electric Equipment Joint-Stock Company is no longer prepared to abide by this bid.This guarantee shall expire no later than 28 October 2016By this date we must have received any claim for payment by letter or encoded telecommunication.It is understood that you will return this guarantee to us on expiry or after payment of total amount to be claimed hereunder.This guarantee is governed by the laws of Vietnam
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