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    Form of Unconditional Bank Guarantee ("Performance Bank Guarantee")

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    9novtarun
    The document is a request for proposals (RFP) for redeveloping the "Jangambadi Ward" in Varanasi, India. It includes a sample performance bank guarantee form. The form guarantees that the contractor will fulfill their contractual obligations for the project. It specifies that the bank will pay up to the guarantee amount if the contractor defaults. The guarantee is valid until 45 days after the defect liability period of 1 year after intended project completion.

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

    Form of Unconditional Bank Guarantee ("Performance Bank Guarantee")

    Uploaded by

    9novtarun
    82 views2 pages
    The document is a request for proposals (RFP) for redeveloping the "Jangambadi Ward" in Varanasi, India. It includes a sample performance bank guarantee form. The form guarantees that the contractor will fulfill their contractual obligations for the project. It specifies that the bank will pay up to the guarantee amount if the contractor defaults. The guarantee is valid until 45 days after the defect liability period of 1 year after intended project completion.

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    RFP_Jangambadi_pagesExtracted

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    The document is a request for proposals (RFP) for redeveloping the "Jangambadi Ward" in Varanasi, India. It includes a sample performance bank guarantee form. The form guarantees that the contractor will fulfill their contractual obligations for the project. It specifies that the bank will pay up to the guarantee amount if the contractor defaults. The guarantee is valid until 45 days after the defect liability period of 1 year after intended project completion.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    82 views2 pages

    Form of Unconditional Bank Guarantee ("Performance Bank Guarantee")

    Uploaded by

    9novtarun
    The document is a request for proposals (RFP) for redeveloping the "Jangambadi Ward" in Varanasi, India. It includes a sample performance bank guarantee form. The form guarantees that the contractor will fulfill their contractual obligations for the project. It specifies that the bank will pay up to the guarantee amount if the contractor defaults. The guarantee is valid until 45 days after the defect liability period of 1 year after intended project completion.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    RFP for Re-Development of Wards of Old Kashi

    “JANGAMBADI WARD” in Varanasi


    December, 2019

    Form of unconditional Bank guarantee (“Performance Bank Guarantee”).

    PERFORMANCE BANK GUARANTEE

    To,

    Chief Executive Officer,


    Varanasi Smart City Limited
    Varanasi

    WREREAS ……………………………………………………. [Name and Address


    of Contractor] (Hereinafter called “the Contractor”) has undertaken, in pursuance of
    Contract No. ……………….. Dated ……………………….to execute …………………….
    [Name of Contract and brief description of Works] herein after called “The Contract”

    AND WHEREAS it has been stipulated by you in the said contract that the
    contractor shall furnish you with a bank guarantee by a Nationalized Bank for the sum
    specified therein as security for compliance with his obligations in accordance with the
    Contract,

    AND WHEREAS we have agreed to give the Contractor such a Bank Guarantee;

    NOW THEREFORE we hereby affirm that we are the Guarantor and responsible to
    you on behalf of the Contractor, up to a total of ………………………[amount of
    guarantee] …………………………...[ in words], such sum being payable in the types and
    proportions of currencies in which the Contract price is payable, and we undertake to pay
    you, upon your first written demand and without cavil or argument, any sum or sums within
    the limits of …………………………………………….. [Amount of guarantee] as
    aforesaid without your needing to prove or to show grounds or reasons for a demand for the
    sum specified therein.

    We hereby waive the necessity of your demanding the said debt from the Contactor
    before presenting us with the demand.

    We further agree that no change or addition to or other modification of the terms of


    the Contract or of the Works to be performed there under or of any of the Contract
    documents which may be made between you and the Contractor shall in anyway release us
    from any liability under this guarantee, and we hereby waive notice of any such change,
    addition or modification.

    Page | 98
    RFP for Re-Development of Wards of Old Kashi
    “JANGAMBADI WARD” in Varanasi
    December, 2019

    This Guarantee shall be valid until a date 45 days after the expiry of defect
    liability period of 1 year after intended completion date.

    Signature and seal of the guarantor


    ………………………………………………………………………...

    Name of Bank
    ………………………………………………………………………...................................

    Address
    ………………………………………………………………………...................................

    Date
    ……………………………………………………………………….....................................

    Page | 99

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