Format of Bank Guarantee for Tender Guarantee for BMRCL

Please find below bank guarantee format for tender guarantee (to be issued through any scheduled banks operating in India) to be submitted to Bangalore Metro Rail Corporation Limited at the time of submission of your bid for the Tender along with the Demand Draft for cost of Tender documents.

(To be stamped in accordance with Stamp Act, if any, applicable for the issuing bank)

 
KNOW ALL MEN by these presents that we ____________________________(Name of Bank) of India,  having  our  registered  office  at ____________________________________________ (hereinafter called "the Bank") are bound unto BANGALORE METRO RAIL CORPORATION  LIMITED (hereinafter called "the Purchaser") in sum of  INR Or USD for which payment will and truly to be made to the said Purchaser, the Bank binds itself, its successors and assigns by these presents.

WHEREAS _____________________ (Name of Tenderer) (hereinafter called "the Tenderer”) has submitted his tender dated __________ for Tender No. __________ (hereinafter called "the Tender").

WHEREAS  the  Tenderer  is  required  to  furnish  a  Bank  Guarantee  for  the  sum  of  INR .............................................Or  USD        as  Tender  Guarantee  against  the Tenderer's offer as aforesaid.

AND WHEREAS ________________________ (Name of Bank) (from a scheduled Commercial Bank in India drawn on and payable at a designated branch in Bangalore) have, at the request of the Tenderer, agreed to give this guarantee as hereinafter contained.

We further agree as follows:

(i)     That the Purchaser 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 Purchaser
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 Purchaser, executes a formal agreement after furnishing the Performance Security issued by an
Indian Schedule bank (excluding Cooperative Banks) or from a schedule
Foreign Bank as defined in Section 2(e) of RBI Act 1934 read with Second Schedule drawn on and payable at a designated branch in Bangalore.

b.     Sixty 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 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 or errors in his Tender, or

(iii)    if the Tenderer having been notified of the acceptance of his Tender by the Purchaser 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 para  F4 of the "Instructions to Tenderer".

We undertake to pay to the Purchaser up to the above amount upon receipt of his first written demand, without the Purchaser having to substantiate his demand provided that in his demand the Purchaser 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.

SIGNATURE OF WITNESS                                Signature of Authorized Official

_______________________                              Of the Bank:_______________________

NAME OF WITNESS                                           Name of Official:____________________

_______________________                               Designation    _______________________

Address of witness      

________________________                             STAMP/SEAL OF BANK

Notes: 

1.    The stamp papers of appropriate value shall be purchased in the name of the Bank, who issue the Bank Guarantee.

2.     The Bank Guarantee for Tender Guarantee shall be from an Indian Schedule bank

(excluding Cooperative Banks) or from a schedule Foreign Bank as defined in Section
2(e)  of RBI Act 1934 read with  Second Schedule,  drawn on  and  payable  at a designated branch in Bangalore only.

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