[ specimen of bank guarantee for advance payment ]
oo bank date : 20 april, 2011  p.o.box o   [city], [country]  
subject : request for issuance of bank guarantee for advance payment
dear sir,  

we, bank with registered office at , 0 ga, x-dong, chung-gu, seoul, korea, have been requested by engineering & construction co. , ltd

to provide a counter guarantee for advance payment with you in respect of the construction of residence & commercial tower on plot #oo at [location], [city], [country] for properties ltd. , thereon for the above project

therefore, we hereby request your bank to issue a bank guarantee for advance payment in the following text.
quote  bank guarantee for advance payment   properties ltd.date : 20 april, 2011  

p. o

box no. 0[city], [country]  
contract : construction of residence & commercial tower on plot #oo
at [location], [city], [country]  
subject : our advance payment security no.for usd 10, ,

in accordance with the letter of acceptance issued by o properties ltd. on april 09, 2011, messrs o engineering & construction co

, ltd. with registered office at , x-dong, o-gu, seoul, korea (hereinafter called the contractor) shall deposit with o properties ltd

a bank guarantee to guarantee his proper and faithful performance under the contract in an amount of usd 10, ,.
we, bank, as instructed by the contractor, agree unconditionally and irrevocably to guarantee as primary obligator and not as surety merely, the payment to properties ltd.on his first demand without whatsoever right of objection on our part and without his first claim to the contractor, in the amount not exceeding usd 10, , only, such amount to be reduced periodically by the amounts recovered by you under prorata base of the monthly progress payment from the proceeds of the contract.
we further agree that no change or addition to or other modification of the terms of the contract or of works to be performed thereunder or of any of the contract documents which may be made between o properties ltd.and the contractor, shall in any way release us from any liability under this bank guarantee, and we hereby waive notice of any such change.
no drawing may be made by you under this bank guarantee until we have received notice in writing from you that an advance payment of the amount listed above has been paid to the contractor pursuant to the contract.
you shall not sell, assign, dispose of, or otherwise transfer, or mortgage, pledge, charge, hypothecate or otherwise encumber, or permit or suffer any transfer or encumbrance of, any rights or obligations under this guarantee.
this bank guarantee shall remain valid and in full effect from the date of the advance payment under the contract to month/ date, 2015(scheduled time for completion date).
yours faithfully,     (이하 생략)