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GUARANTY AGREEMENT FOR CORPORATE GUARANTOR
(Applicable to One or More Government Contracts)
(Insert Guarantor’s Name)
(Insert Guarantor's Address) for itself, its successors and assigns, hereinafter referred to as the Guarantor, requests the United States of America (Department of Defense) hereinafter called the Government, to award contract or contracts to
(Insert Contractor's Name)
| organized under the laws of the State of |
| having its principal place of business |
(Street Address)
| in the City of |
| in the State of |
| , |
herein after called the Contractor. The undersigned Guarantor agrees to guarantee absolutely to the Government the full, complete and faithful performance of the Contractor of any and all contracts, hereinafter referred to as such contract, according to the terms and conditions thereof and at the time and in the manner provided therein.
In consideration of the award of any and all contracts to the Contractor, the undersigned Guarantor agrees as follows:
| 1. |
| Guaranty. The Guarantor absolutely guarantees the full, complete and faithful performance by the Contractor of such contract, as such contract may be from time to time amended as authorized by its terms, according to the terms and conditions of such contract as so amended, and at the time and in the manner provided therein. The Guarantor agrees to provide the Contractor all necessary and required resources including financing, which are necessary to assure the full, complete and satisfactory performance of such contract. |
| 2. |
| Extension of Time of Performance. Any extension of the time of performance of such contract as so amended shall not release the undersigned Guarantor from liability hereon. |
| 3. |
| Assignment. This instrument shall bind the undersigned Guarantor, its successors and assigns. If any person, firm, corporation or entity other than the Contractor becomes obligated to perform the contract or any part thereof, whether by operation of law or otherwise, any and all rights of the Government against the Guarantor shall remain in full force. |
| 4. |
| Default. In the event of termination for default under the terms of such contract, or in the event of failure, insolvency, default, bankruptcy, arrangement, appointment of receiver of the Contractor or other liquidation of the Contractor, the Guaranty herein shall become absolute. |
| 5. |
| Waiver of Notice. The Guarantor waives notice of default on the part of the Contractor and agrees that its Guaranty shall become absolute without necessity for the giving of such notice. |
| 6. |
| Continuation of Guaranty. The Guaranty herein shall continue until full, complete and faithful performance of such contract as it may be from time to time amended as authorized by its terms. |
| 7. |
| Default Liability. In addition to all other guarantees contained in this Agreement, in the event that the Government terminates such contract for default and awards the uncompleted portion of such contract to another source at a fair and reasonable price, the Guarantor shall be liable for any excess costs incurred by the Government as a result of such reprocurement and for the repayment of any unrecouped payments (e.g., partial payments, Progress Payments, or Advance Payments) paid to the Contractor by the Government. In addition, the Guarantor shall be liable for all costs end expenses paid or incurred by the Government in enforcing this Guaranty. The Contracting Officer representing the Government in connection with such contract shall determine the total costs and expenses, if any, incurred by the Government. |
| 8. |
| Enforcement. This Guaranty Agreement shall inure to the benefit of and may be enforced by the |
Government.
| 9. |
| Construction. Nothing in this Guaranty Agreement shall be construed to obligate the Government to award a contract to the Contractor. |
10.
Coverage, Termination, Waiver, and Expiration.
| a. |
| Except as otherwise provided herein, this Guaranty Agreement refers to and shall be effective with respect to any and all contracts for supplies or services entered into, on or after the date of this Agreement between the Government and the Contractor. Unless otherwise indicated by the context the singular of the word "contract" as used in this Agreement shall mean the plural term "contracts" whenever this Agreement shall become effective with respect to more than one contract between the Government and the Contractor. For the purpose of any additional procurement of supplies or services called for by any agreement supplemental to a contract between the Government and the Contractor, the term "contract" shall refer to such supplemental agreement. |
Additionally, this Agreement will include the contracts already in existence between the Contractor and the Government before the Agreement date, as specified here:
| b. |
| The Guaranty Agreement is a continuing guaranty and shall remain in full force and effect until the later of (1) the performance in full of the guaranteed obligations, or under the guaranteed contracts. (2) the termination of all continuing obligations and commitments of the Contractor under the guaranteed contracts. In the case of termination of the continuing commitments of the Contractor on any guaranteed contract, the termination notices must be given in writing citing the affected contracts. |
| c. |
| When the Government Contracting Officer determines that it is in the best interest of the Government to do so, the Contracting Officer may, by written notice addressed to the Guarantor at the Guarantor’s address shown herein, waive the effect of this Agreement with respect to any specifically identified individual contract between the Government and the Contractor entered into after the date of such written notice. A separate written notice shall be given with respect to each contract that the Contracting Officer determines shall not be subject to the effect of this Agreement. |
| d. |
| In the event that all of the contracts covered by this Guaranty Agreement have been satisfactorily completed by the Contractor including all continuing commitment of the Contractor under the contracts, the Guarantor may request the cognizant Government Contracting Officer for this Guaranty Agreement to issue a written notice which states that this Guaranty Agreement is considered to have expired. |
| Executed the |
| day of |
| year of |
| . |
(Guarantor)
(Title)
(Business Address)
| I, |
| , certify that I am the duly elected Secretary of |
| the Corporation named as Guarantor herein; that |
| who signed this |
| Agreement on behalf of the Guarantor, was then |
| of said Corporation, |
that said Agreement was duly signed for and in behalf of said Corporation by authority of its governing body, and is within the scope of its corporate powers.
Corporate Seal:
(Secretary)
Receipt of a copy of the above Guaranty Agreement is acknowledged.
THE UNITED STATES OF AMERICA
| (Contracting Officer) |
| (Contracting Officer Address) |
Guaranty Agreement DCMA Form 1620 04-04 Page 2 of 2
Defense Health Agency