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    Bank Guarantee For Performance Security (Form e-PW3-8)

    Uploaded by

    MSEB JV
    This document provides a template for a performance security guarantee to be issued by a Bangladeshi bank. The guarantee is required under the terms of a construction contract to ensure the contractor fulfills their obligations. It states the bank will pay the procuring entity up to the guaranteed sum if the contractor breaches the contract terms and the entity provides a written demand. The guarantee expires on a specified date to allow the contractor to complete the works.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Bank Guarantee For Performance Security (Form e-PW3-8)

    Uploaded by

    MSEB JV
    313 views1 page
    This document provides a template for a performance security guarantee to be issued by a Bangladeshi bank. The guarantee is required under the terms of a construction contract to ensure the contractor fulfills their obligations. It states the bank will pay the procuring entity up to the guaranteed sum if the contractor breaches the contract terms and the entity provides a written demand. The guarantee expires on a specified date to allow the contractor to complete the works.

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    PG Format BD

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    This document provides a template for a performance security guarantee to be issued by a Bangladeshi bank. The guarantee is required under the terms of a construction contract to ensure the contractor fulfills their obligations. It states the bank will pay the procuring entity up to the guaranteed sum if the contractor breaches the contract terms and the entity provides a written demand. The guarantee expires on a specified date to allow the contractor to complete the works.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    313 views1 page

    Bank Guarantee For Performance Security (Form e-PW3-8)

    Uploaded by

    MSEB JV
    This document provides a template for a performance security guarantee to be issued by a Bangladeshi bank. The guarantee is required under the terms of a construction contract to ensure the contractor fulfills their obligations. It states the bank will pay the procuring entity up to the guaranteed sum if the contractor breaches the contract terms and the entity provides a written demand. The guarantee expires on a specified date to allow the contractor to complete the works.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Bank Guarantee for Performance Security (Form e-PW3-8)

    [This is the format for the Performance Security to be issued by a scheduled bank of
    Bangladesh in accordance with ITT Clause 59]

    Contract No: [insert reference number] Date: [insert date]

    To:

    [ insert Name and address of Procuring


    Entity]

    PERFORMANCE GUARANTEE No:

    We have been informed that [name of Contractor] (hereinafter called “the Contractor”) has
    undertaken, pursuant to Contract No [insert reference number of Contract] dated [insert date
    of Contract] (hereinafter called “the Contract”), the execution of works [description of works]
    under the Contract.

    Furthermore, we understand that, according to your conditions, the Contract must be


    supported by a Bank Guarantee for Performance Security.

    At the request of the Contractor, we [name of bank] hereby irrevocably undertake to pay
    you, without cavil or argument, any sum or sums not exceeding in total an amount of Tk
    [insert amount in figures and in words] upon receipt by us of your first written demand
    accompanied by a written statement that the Contractor is in breach of its obligation(s) under
    the Contract conditions, without you needing to prove or show grounds or reasons for your
    demand of the sum specified therein.

    This guarantee is valid until [date of validity of guarantee], consequently, we must receive at
    the above-mentioned office any demand for payment under this guarantee on or before that
    date.

    Signature Signature

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