Encashment of Bank Guarantee 2017-08-11

OIL & GAS DEVELOPMENT COMPANY LIMITED
Finance & Accounts Department
No: PPK2211-02-BAL-170810 August 10, 2017
Mr. Aqeel Khan

Team Leader-Corporate Liabilities
Bank Alfalah Limited
Corporate Branch,
F-10 Markaz,
Islamabad.
Subject: - ENCASHMENT OF BANK GUARANTEE FOR Rs 1,000,000/=
Dear Sir,
We are enclosing herewith original Bank Guarantee bearing No: 175521BID00005 dated
April 18, 2017 for Rsl,OOO,OOOI= (Pak. Rupees One Million Only) valid up to October 17, 2017,
issued by your Islamic Banking 6-F, Gulshan-e-Ravi Branch, Lahore, on account of
Mis. Haroon Engineering Company, against our Contract No: PROC-LF/PT/16882/17, for
encashment.
As per clause 1 of Bank Guarantee, you are requested to arrange immediately encashment of
above mentioned Bank Guarantee for its value of Rsl,OOO,OOOI= and credit the proceeds of Bank
Guarantee in OGDCL account maintained with your Branch, under intimation to us.
Thanking you,
Yours faithfully,
~
(Amir Rafique)
Chief Accountant
Encl: Original Bank Guarantee (02 pages)
C.C. to:
I. Chief Manager, Bank Alfalah Islamic Banking, 6-F, Gulshan-e-Ravi Branch, Lahore
HEAD OFFICE: OGDCL House, Jinnah Avenue, Blue Area, Islamabad - 44000, PAKISTAN.
Tel: +92-51-9244311, +92-51-920022477, 4104 Fax: +92-51-2623136
Website: www.ogdcl.com
1
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J
Letter of Guarantee No
Date oflssue
Amount of Guarantee
Date of Expiry
• OIL & GAS DEVELOPMENT COMPANY LIMITED

Supply Chain Management Department
OGDCL House, Jinnah Avenue,
Islamabad
Last Date for Receipt of
Claim at our Counter
In consideration of Mis Haroon Engineering Company hereinafter called "THE BIDDER" HAVING
SUBMITTED THE ACCOMPANYING Bid with reference to OGDCL tender enquiry No.
PROC/LFIPT/16882/17 and in consideration of value received from (the bidder above), we, Bank Alfalah
Limited- Islamic Banking Group, a banking company incorporated undcr the laws of Pakistan, having its
registered office at B. A. Building, I. I. Chundrigar Road, Karachi, through its Islamic Banking branch at
Gulshan-e-Ravi Branch, Lahore do hereby agree to undertake as follows:
I. To make unconditional payment of PKRI ,000,000/- (Pak Rupees One Million Only) upon your first
written demand without further recourse, question or reference to the BIDDER or any other person in
the specified Bid after opening of the same for the validity thereof or if no such period be specified,
within 150 days after the said opening or if the Bidder, having been notified of the acceptance of his bid
by the Purchaser during the period of bid validity i.e. October 17, 2017.
a. Fails or refuses to execute the Purchase Order in accordance with the instructions to the Bidders,
or
•
b. Fails or refuses to furnish Performance Bond in accordance with the instructions to Bidders .
2. To accept written intimation(s) from you as conclusive and sufficient and final evidence of the existence
of a default or non-compliance as aforesaid on the part of the BIDDER and to make payment
accordingly within 03 (three) days of receipt of the written intimation.
3. No grant of time or other indulgence to or compo'.ition or arrangement with the Bidder in respect of
aforesaid Bid with or without notice to us shall affect this Guarantec and our liabilities and commitments
hereunder.
4. This guarantee shall be binding on us and our successors in interest and shall be irrevocable.
COlltillued 011 Page -2-
HUMAIf~
Counter Services M A 'RAM
Bank Alfalah lsI ana.ger PA# 1'56 ,ic Banking
6.F, GIlIshSrl-e-R atl!ICBanking ..,i 3r. Lahore.
av, Br. Lahore
-------------------
Page No. -2-
Leiter of Guarantee No 175521BID00005

Date of Issue April 18,2017
Amount of Guarantee PKRl,OOO,OOO/-
Date of Expiry October 17, 2017
Last Date for Receipt of
Claim at our Counter October 17,2017
Notwithstanding anything contained herein above, our total liability at all times shall remain limited to the
amount of PKRl,OOO,OOO/- (Pak Rupees One Million Only) till the Expiry Date mentioned above, after which,
we shall stand discharged of all our obligations hereunder, even in the original guarantee instrument is not
cancelled and returned to us
For and on behalf of
Bank Alfalah Limited,

Gulshan-e-Ravi Bran<;,h, Lahore
~: ~r:j-':
: ..L.. , ..
.Jr.
->"Y' -
Oil & Gas Development Company Limited
iv. Following letters were issueel to Mis Haroon l::ng9 Ca Lahore to withdraw
the conditional price validity. payment terms claus<=s
a 12'" June, 2017
b. 07" July, 2017'
c. 13'" July, 2017.
d. 20trlJuly, 2017.
v In reply Mis Haroon Engg Co, sent the lollawlng letters and elid nol
withdraw the conditional price validity & paYlllellt terms clauses
a 23'd June, 2017.
b 14"'JutY~2017
c. 24th July, 2017.
118. In the light of position elal)orated above. the case may please be submitted to
GM (SCM) soliciting approval to fOI-feit the !)leI bonel bank guarantee as per Clause
NO.1(a) of the guarantee submitted as Mis 1-I(1rOOIlE.'.199~C . Lallore .1'13S re/usee!
to exec'ute the work. .
~
\
Mr;HD/~
1'r~1~11f
ZA
- Procurement fflc""
Ext: 212' ,
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OIL & GAS DEVELOPMENT COMPANY LIMITED

Finance & Accounts Department

No: PPK2211-02-BAL-170810 August 10, 2017

Mr. Aqeel Khan

Subject: - ENCASHMENT OF BANK GUARANTEE FOR Rs 1,000,000/=

Encl: Original Bank Guarantee (02 pages)

• OIL & GAS DEVELOPMENT COMPANY LIMITED

COlltillued 011 Page -2-

Page No. -2-

Leiter of Guarantee No 175521BID00005

For and on behalf of

Bank Alfalah Limited,

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