The Guarantor hereby unconditionally and irrevocably guarantees for the benefit of the Beneficiary the fulfilment of the Contractor's Performance by way of a performance bond on demand under which the Beneficiary may demand payment of an amount up to the maximum total amount of [insert amount equivalent to 5% (five per cent) of the contract price in numbers] ([insert amount equivalent to 5% (five per cent) of the contract price in letters]) (the "Maximum Liability Amount").