An Advance Performance Guarantee is commonly used in Singapore's construction, infrastructure, and large-scale project sectors to provide security for advance payments and performance obligations. It serves as a risk mitigation tool where substantial upfront payments or critical performance requirements are involved. The guarantee, governed by Singapore law, typically amounts to 5-20% of the contract value and remains valid throughout the project duration plus a defects liability period. This instrument is particularly important in Singapore's sophisticated financial and construction markets, where it provides beneficiaries with readily accessible security without the need for litigation.
Advance Performance Guarantee for Singapore
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Key Requirements PROMPT example:
Advance Performance Guarantee
"Need an Advance Performance Guarantee for a Singapore construction project worth SGD 5 million, with our bank (DBS) as guarantor, valid until March 2025, with step-in rights included."
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Ƶ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies the guarantor, principal obligor, and beneficiary
2. Background: Explains the underlying transaction and purpose of the guarantee
3. Definitions: Defines key terms used throughout the guarantee
4. Guarantee and Indemnity: Core obligations of the guarantor
5. Amount and Scope: Specifies the guaranteed sum and extent of coverage
6. Duration: Validity period of the guarantee
7. Demand Requirements: Process and conditions for making claims
1. Counter-Indemnity: Additional security provisions required from the principal obligor, typically used for high-value guarantees or high-risk transactions
2. Step-In Rights: Rights of guarantor to take over principal's obligations, commonly included in construction or project finance guarantees
3. Assignment Provisions: Rules regarding transfer of guarantee rights, included when transferability might be required
1. Form of Demand: Template for making claims under the guarantee
2. Underlying Contract Details: Summary of the principal contract being guaranteed
3. Payment Schedule: Details of guarantee amounts if they vary over time or are linked to project milestones
4. Corporate Authorizations: Evidence of authority to issue guarantee (for corporate guarantors)
Authors
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Corporate Performance Guarantee
A Singapore law-governed guarantee where a corporate entity ensures the performance obligations of another party, backed by legal enforceability under Singapore jurisdiction.
find out more
Advance Performance Guarantee
A Singapore-law governed financial guarantee securing the performance obligations of a contractor or supplier, typically issued by a bank.
find out more
Contract Performance Guarantee
A Singapore-law governed guarantee ensuring contractual performance through financial security provided by a third-party guarantor.
find out more
Performance Guarantee Bond
A Singapore-law governed financial guarantee securing a contractor's performance obligations, typically issued by a bank.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)