[ Insert name and address of financial institution or bank (Letterhead) ]  European Chemicals Agency (ECHA)  Telakkakatu 6  00150 Helsinki  Finland  Reference: Contract [ Insert number and exact title ]  ARTICLE 1 – DECLARATION ON GUARANTEE, AMOUNT AND PURPOSE  [ Insert place and date ]  We, the undersigned [ insert name and address of the financial institution or bank ]  (‘the Guarantor’) hereby confirm that we give the European Chemicals Agency (‘the  Agency’)  [or] the European Commission (‘the Commission’) an unconditional,  irrevocable and independent first-demand guarantee consisting in the undertaking to  pay to the Agency  [or]  the Commission a sum equivalent to the amount of:  upon simple demand, for guarantee of the [ Option for performance: compliance with  substantial contractual obligations]  [ Option for retention:  remedy of defects during  the contract liability period ] under the contract [ insert number and exact title ] (‘the  contract’) concluded between the Agency[ or]  the Commission and [ insert name and  address ], (‘the Contractor’).  EUR [ insert amount in figures and in words ]  ARTICLE 2 – EXECUTION OF GUARANTEE  If the Accounting Officer of the Agency [o r] the Commission gives notice that the  Contractor has for any reason failed to [ Option for performance: comply with substantial contractual obligations ] [ Option for retention:  remedy defects during the  contract liability period]  under the contract by the due date, we, acting for account  of the Contractor, shall pay immediately up to the above amount, in EUR, without  exception or objection, into [a bank account designated by the Agency [or] the Commission]  [ the following bank account:  [ insert number ]], on receipt of the first  written request from the Agency  [or]  the Commission. We shall inform the Agency  [or]  the Commission in writing as soon as the payment has been made.  1. We waive the right to require exhaustion of remedies against the Contractor, any  right to withhold performance, any right of retention, any right of avoidance, any  ARTICLE 3 – OBLIGATIONS OF THE GUARANTOR  1  $^{ }$Annex V - LETTER FOR [ PERFORMANCE ] [ RETENTION  MONEY ] FIRST DEMAND GUARANTEE 