WHEREAS

(1)  By a contract (the "Agreement") entered into or to be entered into between the Authority and the Service Provider particulars of which are set out in the Schedule the Service Provider has agreed with the Authority to execute services (the "Services") upon and subject to the terms and conditions therein set out

(2)  The Guarantor has agreed with the Authority at the request of the Service Provider to guarantee the performance of the obligations of the Service Provider under the Agreement upon the terms and conditions of this Performance Bond subject to the limitation set out in clause 2