Date of Issue:
Effective Date:
Amount:
Expiry Date:
Claim Lodgment Date
The Agency Administrator
International Air Transport Asscn
331 North Bridge Road # 20-00
Odeon Towers
Singapore-188720
International Air Transport Association
This Guarantee is made on the (Guarantee) by the undersigned
whose registered office is located at
(hereinafter referred to as the “Guarantor”) in favour of International Air Transport Asscn Member Airlines who have appointed or who may come to appointed the Debtor as their Cargo Agent in Pakistan (hereinafter referred to as “IATA MEMBER AIRLINES”).
WHEREAS the (hereinafter referred to as the “Debtor”) has entered into a certain Cargo Agency Agreement (hereinafter referred to as the “Agency Agreement”) with IATA MEMBER AIRLINES dated
WHEREAS the Debtor has agreed to provide a bank guarantee in favour of IATA MEMBER AIRLINES with respect to its indebtedness to IATA MEMBER AIRLINES UNDER THE Agency Agreement during the terms of this Guarantee.
Now therefore, the Guarantor hereby agrees as follows.
- The Guarantor unconditionally, irrevocably, jointly and severally guarantees and promises to pay the IATA MEMBER AIRLINES any and all amount which are or become due from the Debtor to IATA MEMBER AIRLINES under the Agency Agreement during the term of this Guarantee, up to an amount not exceeding Rs. (in words)
- The Guarantor agrees that upon receipt of written notification from the Agency Administrator IATA on behalf of IATA MEMBER AIRLINES, that the Debtor has failed to pay IATA MEMBER AIRLINES any amount due to IATA MEMBER AIRLINES under the Agency Agreement informing the Guarantor of the amount so unpaid and due, the Guarantor will immediately remit said amount to IATA MEMBER AIRLINES in such manner and in such amount as the Agency Administrator IATA has instructed the Guarantor in the aforesaid notification.
- The Guarantor hereby waives diligence, presentment, demand, protest and notice of any kind whatsoever, as well as any requirement that he IATA MEMBER AIRLINES exhaust any rights or take any action against the Debtor, unless otherwise provided for herein.
- The Guarantor consents and agrees that the liability of the Debtor under Paragraph 5 of the Agency Agreement may, from time to time be renewed, extended, modified, compromised released to be discharged by the IATA MEMBER AIRLINES at their discretion and that the Guarantor shall remain bound under this Guarantee notwithstanding any such renewal extension, Modification, compromise, release or discharge.
- This Guarantee shall be binding upon the Guarantor and the Guarantor’s successor and assigns and shall insure to the benefit of IATA MEMBER AIRLINES, their successors and assigns.
- This Guarantee shall become effective from the date of is issuance and shall remain in full force and effective until .
- This Guarantee shall be governed by and construed in accordance with the law of Pakistan.