Common use of Guarantee Liability Clause in Contracts

Guarantee Liability. 2.1 The guarantee under this contract is a joint and several liability guarantee. 2.2 The scope of the guarantee is the principal and interest, compound interest, penalty interest, liquidated damages, damages and the cost of realizing the creditor's rights under the principal contract. Expenses for realizing claims include but are not limited to collection fees, litigation fees (or arbitration fees), preservation fees, announcement fees, execution fees, attorney fees, travel expenses and other expenses. 2.3 The guarantee period shall be calculated separately according to the performance periods of each principal debt agreed in the principal contract (in the case of issuing bank acceptance draft/letter of credit/letter of guarantee, according to the date of advance payment by the creditor). The guarantee period under each principal debt shall be from the date of expiration of the performance period of such principal debt (or the date of advance payment by the creditor) to two years after the date of expiration of the performance period of the final principal debt due under the entire principal contract (or the date of advance payment by the creditor). If creditor and debtor agree that the debtor can stage to perform the payment obligations, the guarantee period of the principal debt shall be calculated separately according to each repayment obligation, from the date of expiration of the performance period of each repayment obligation (or the date of advance payment by the creditor) to two years after the date of expiration of the performance period of the final principal debt due under the entire principal contract (or the date of advance payment by the creditor). If the creditor announces that any principal debt is due early, the expiry date of the performance period of the principal debt shall be subject to the announced early maturity date.

Guarantee Liability. 2.1 The guarantee under this contract Contract is a joint and several liability guarantee. 2.2 The scope of the guarantee is the principal and interest, compound interest, interest and penalty interestinterest of the principal creditor’s rights, liquidated damages, damages and the cost of expenses for realizing the creditor's ’s rights under the principal contractall Master Contracts. Expenses The expenses for realizing claims creditor’s rights include but are not limited to collection fees, litigation legal fees (or arbitration fees), preservation fees, announcement fees, execution fees, attorney fees, travel expenses and other expensesothers. 2.3 The guarantee period shall be calculated separately according to the debt performance periods period of each principal debt agreed in the principal contract Master Contract (in if under the case of issuing bank acceptance draftbill, L/letter of credit/C or letter of guarantee, according to the date of Creditor’s advance payment by the creditordate). The guarantee period under of each principal debt shall be starts from the expiration date of expiration of the debt performance period of such principal debt (or the date of advance payment by the creditorCreditor) to two ending three years after the expiration date of expiration of the performance period of the final last principal debt due under the entire principal contract all Master Contracts (or the date of advance payment by the creditorCreditor). If creditor the Creditor and debtor the Debtor agree that the debtor Debtor can stage to perform fulfill the payment obligationsrepayment obligation in installments, the guarantee period of the principal debt shall be calculated separately according to the repayment obligations of each repayment obligationinstallment, starting from the expiration date of expiration of the debt performance period of each repayment obligation installment (or the date of advance payment by the creditorCreditor) to two and ending three years after the expiration date of expiration of the performance period of the final principal debt due under the entire principal contract all Master Contracts (or the date of advance payment by the creditorCreditor). If the creditor announces that Creditor declares an early maturity of any principal debt is due earlydebt, the expiry expiration date of the performance period of the principal debt shall be subject to the announced early maturity date.