NOTICE OF DEMAND
To: | [PERFORMANCE SECURITY ISSUER] |
Attn: [•]
Re: Surety Bond No. [•]
The undersigned, a duly authorized officer of [Agency] ("Agency"), [description of Agency], with its principal office at [•], Philippines make reference to the Bulk Water Supply Agreement ("Agreement") dated as of [•] between Agency and [Company], a corporation duly organized and existing under and by virtue of the laws of [•], with office address at [•].
Agency hereby demands payment under the Surety Bond in the amount of [•] Pesos (PHP [•]) as penalty payment by [Company] under the Agreement for one or more of the following reasons:
[specify breach by Company and proof of consequent damages]
The aggregate amount of this claim and the other previous claims paid under the Surety Bond do not exceed the amount of [•] Pesos (PHP [•]).