The validity period of the performance bond, the duration of the performance bond

Performance bonds will have different validity periods depending on the contract.

For example, the validity period of a bank guarantee:

It can be either a specific date or a period of time after an act or event. For example: three or six months after delivery, 30 days after the end of the project, etc.

Generally by contract; The bank generally provides a maximum guarantee of 24 months, and if it continues to provide a performance bond, it must apply again, and the bank will also submit an official letter of expiration to the party accepting the performance bond.

What is the maximum term of the performance guarantee issued by the bank before the execution of the contract.

The validity period of the performance bond is from the submission of the performance bond to the completion and acceptance of the project.

Legal analysis: the validity period of the contractor's performance guarantee is agreed in the contract, and there is generally an agreement from the agreement, and the effective deadline agreed in the contract is generally 30 days to 180 days after the date of completion and acceptance of the project as agreed in the construction contract; If there is no agreement in the contract, the bank will generally provide a maximum guarantee of 24 months, and if it continues to provide a performance bond, it must apply again, and the bank will also submit an expired official letter to the party accepting the performance bond.

Legal basis: Article 46 of the Tendering and Bidding Law of the People's Republic of China The tenderer and the winning bidder shall, within 30 days from the date of issuance of the notice of winning the bid, enter into a written contract in accordance with the bidding documents and the bidding documents of the winning bidder. The tenderer and the winning bidder shall not enter into other agreements that deviate from the substantive content of the contract.

If the bidding documents require the winning bidder to submit a performance bond, the winning bidder shall submit it.

Article 390 of the Civil Code of the People's Republic of China: During the guarantee period, if the secured property is damaged, lost or expropriated, the security interest holder may be compensated in priority for the insurance money, compensation or compensation obtained. If the performance period of the secured creditor's right has not expired, the insurance money, compensation or compensation may also be deposited.

Legal analysis: The validity period of the project performance guarantee will generally be stipulated in the contract, and the validity period agreed in the contract shall be one month after the completion and acceptance of the project contract to half a year, and this exact date will be stated in the letter of guarantee.

Legal basis: "Provisions on the Administration of Survey and Design Registered Engineers" Article 26 The validity period of the contractor's performance guarantee shall be determined in the contract. The expiration date of the validity period agreed in the contract is 30 days to 180 days after the date of completion and acceptance of the project as agreed in the project construction contract.

Legal analysis: The validity period of the performance guarantee shall be determined according to the term agreed in the contract, and the maximum period is 24 months. A performance guarantee is a guarantee document, which is issued to the beneficiary to guarantee the applicant's performance of the obligations under a certain contract, and is issued by the bank at the request of the applicant.

Legal basis: Article 160 of the Civil Code of the People's Republic of China: Civil juristic acts may be accompanied by time limits, except where time limits must not be attached based on their nature. Civil juristic acts with a time limit for taking effect shall take effect at the end of the time limit.

A civil juristic act with a term for the termination of the end of the lease shall become invalid upon the expiration of the term.

Legal analysis: According to the relevant laws and regulations of China, the bank generally provides a guarantee for a maximum of 24 months for a general contract, and if you continue to provide a performance bond, you can apply again, and the bank will submit an expired official letter to the party accepting the performance bond. The duration of the contractor's performance bond is agreed upon in the contract.

The effective cut-off time agreed in the contract is generally 30 days to 180 days after the completion and acceptance date of the project agreed in the project construction contract.

Legal basis: Article 465 of the Civil Code of the People's Republic of China is protected by law. A contract established in accordance with law shall only be legally binding on the parties, unless otherwise provided by law.

Legal analysis: Generally, the contract bank generally provides a maximum guarantee of 24 months, and if it continues to provide a performance guarantee, it must apply again, and the bank will also submit an expired official letter to the party accepting the performance bond. The duration of the contractor's performance bond is agreed upon in the contract.

The effective deadline agreed in the contract is generally 30 days to 180 days after the date of completion and acceptance of the project agreed in the project construction contract.

Legal basis: According to the 26th calendar of the "Regulations on the Administration of Survey and Design Registered Engineers" (Order No. 137 of the Ministry of Construction of the People's Republic of China), the validity period of the contractor's performance guarantee shall be stipulated in the contract.

The expiration date of the validity period agreed in the contract is 30 days to 180 days after the date of completion and acceptance of the project agreed in the construction contract.

The duration is determined according to the term agreed in the contract, and the maximum period is 24 months. The performance letter of guarantee is a guarantee document, which is a written document issued to the beneficiary to guarantee the applicant's performance of the obligations under a certain contract, and is issued by the bank at the request of the applicant. According to Article 160 of the Civil Code, a time limit may be attached to a civil juristic act, except where a time limit may not be attached according to its nature.

Civil juristic acts with a time limit for taking effect shall take effect at the end of the time limit. Civil juristic acts with a time limit for termination shall become invalid upon the expiration of the time limit.

Legal basis. Article 160 of the Civil Code of the People's Republic of China [Civil Juristic Acts with Time Limits] Civil juristic acts may have time limits attached, except where time limits must not be attached based on their nature. Civil juristic acts with an effective period shall take effect at the end of the Chakai period.

Civil juristic acts with a time limit for termination shall become invalid upon the expiration of the time limit.