Bank Guarantee Format For KMRCL

Tender Guarantee Format for Kolkata Metro Rail Corporation Ltd

                                                               [Tender Number]                             ANNEXURE 3

INSTRUCTIONS TO TENDERER

FORM OF BANK GUARANTEE FOR TENDER SECURITY

KNOW ALL MEN by these presents that we [Name of Any Scheduled Commercial Bank which you would be using] In India, having our registered office at [Bank’s Address] (hereinafter called "the Bank") are bound unto KOLKATA METRO RAIL CORPORATION LIMITED (hereinafter called "the Employer") in sum of USD [Amount in figure] (United States Dollar [Amount in Words]) only for which payment well and truly to be made to the said Employer, the Bank binds himself, his successors and assigns by these presents.

WHEREAS M/s [Company Name with Address] (hereinafter called "the Tenderer") has submitted his tender dated [Tender Bid Opening Date] for [Tender Number] (hereinafter called "the Tender").

WHEREAS the Tenderer is required to furnish a Bank Guarantee for the sum of USD [Amount in figure] (United States Dollar [Amount in Words]) only valid for 210 days from the date of issue as Tender Guarantee against the Tenderer's offer as aforesaid

AND WHEREAS  [Bank Name]) have, at the request of the Tenderer, agreed to give this guarantee as hereinafter contained. We further agree as follows:

(i)         That the Employer may without affecting this guarantee grant time or other indulgence to or negotiate further with the Tenderer in regard to the conditions contained in the said tender and thereby modify these conditions or add thereto any further conditions as may be mutually agreed upon between the Employer and the Tenderer.

(ii)        That the guarantee herein before contained shall not be affected by any change in constitution of our Bank or in the constitution of the Tenderer.

(iii)       That this guarantee commences from the date hereof and shall remain in force till:

(a)  The Tenderer, in case his tender is accepted by the Employer, executes a formal agreement after furnishing the Performance Security on Scheduled Commercial Banks (including Scheduled Commercial Foreign Banks) or

(b)  Twenty eight days after the date of validity or the extended date of validity of the Tender, as the case maybe;

whichever is earlier.

(iv)      That the expression "the Tenderer" and the "the Bank" herein used shall, unless such an interpretation is repugnant to the subject or context, include their respective successors and assigns.

THE CONDITIONS of this obligation are:

(i)         If the Tenderer withdraws his Tender during the period of Tender validity specified in the Form of Tender, or

(ii)        If the Tenderer refuses to accept the corrections of errors in his Tender, or

(iii)       if the Tenderer having been notified of the acceptance of his Tender by the Employer during the period of tender validity:

(a)  fails or refuses to furnish the Performance Security and/or

(b)  fails or refuses to enter into a Contract within the time limit specified in paragraph T12.4 of the "Instructions to Tenderer"

We undertake to pay to the Employer up to the above amount upon receipt of his first written demand, without the Employer having to substantiate his demand provided that in his demand the Employer will note that the amount claimed by him is due to him owing to the occurrence of any one or more of the conditions (i), (ii),(iii)a or (iii)b mentioned above, specifying the occurred condition or conditions

This guarantee is non assignable, non transferable.

                                                                                   Signature of Authorised Official of the

Bank:…………………………….        

                                                                                   Name  of Official …………………………

                                                                                  Designation: ……………………………

SIGNATURE OF WITNESS                                       STAMP/SEAL OF THE BANK

__________________________

__________________________

__________________________

NAME OF WITNESS

__________________________

Address of witness

__________________________

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