Salutation & Request

Dear Sir / Madam,

We, Vinn Al Azl Industrial Insulation Co. LLC, holders of Account No. and IBAN as referenced above, hereby formally request your esteemed Bank to issue an unconditional, irrevocable, on-demand Bank Guarantee on our behalf in favour of the Beneficiary, in the form and amount specified herein, and in accordance with Saudi commercial banking practice and the regulations of the Saudi Central Bank (SAMA).

We confirm that:

1. The guarantee shall be issued in Saudi Arabian Riyals (SAR), unconditional, irrevocable, and payable on first written demand by the Beneficiary without proof or conditions, save for compliance with any expiry date.
2. The guarantee shall be governed by the laws of the Kingdom of Saudi Arabia and the regulations of the Saudi Central Bank (SAMA), and where applicable the Uniform Rules for Demand Guarantees (URDG 758) of the ICC.
3. We hereby authorise the Bank to debit our account with any commissions, charges, withholdings, and counter-guarantee margin required, in accordance with the Bank's tariff and the terms of our facility.
4. We undertake to extend or replace the guarantee as required under the underlying contract, and to indemnify the Bank in full against any claim paid under the guarantee.

Counter-Guarantee & Closing

As counter-guarantee, we authorise the Bank to block as cash margin or set against our approved facility the sum of ______ % of the Guarantee Amount until full discharge of the Bank's liability. We further authorise the Bank to debit our account for all renewal commissions, telex/SWIFT charges, and stamp duties as applicable.

Kindly issue the original Guarantee instrument to the Beneficiary, with an authenticated copy provided to us for our records. Should you require any additional documentation, kindly contact our undersigned representative.

Yours faithfully,