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PROFORMA
OF BANK GUARANTEE FOR EARNEST MONEY DEPOSIT
Bank Guarantee No
Date
In accordance with invitation to Bid No
.
Dt
of Central Electricity Supply Utility of
Orissa (hereinafter referred to as CESU) for the purpose of
.. M/s
Address
wish/ wishes to participate in the said tender and as the
Bank Guarantee for the sum of Rs.
(Rupees.
.
.. only) valid for a period of
days
(in words) is required to be submitted by the tenderer.
1.
We the
Bank (hereinafter referred
to as the bank) at the request of
M/s
.. hereby unequivocally
and unconditionally guarantee and undertake to pay during the
above said period or written request by the Central Electricity
Supply Utility of Orissa, an amount not exceeding Rs.
(Rupees
..
..
only) to CESU without any reservation. The guarantee will
remain valid up to 4.00 P.M. of
(date) and if any
further extension is required the same will be extended on
receiving instruction from M/s
..
. on whose behalf
this guarantee has been issued.
2.
We the
Bank (hereinafter referred
to as the bank) do hereby undertake
to pay the amounts due and payable under the guarantee
without any demur, merely on a demand from the CESU stating that
the amount claimed is due by way of loss or damage caused to or
suffered by CESU by reason of any breach by the said contractor(s)
of any of the terms or conditions and failure to perform the said
Bid. Any such demand made on the Bank shall be conclusive as
regards the amount due and payable by the Bank under this
guarantee. However, our liability under this guarantee shall be
restricted to an amount not exceeding Rs
(in words).
3.
We undertake to pay to the CESU any money so demanded not
withstanding any dispute or dispute raised by the contractor(s) /
Supplier(s) in any suit or proceeding instituted/ pending before
any Court or Tribunal relating thereto our liability under this
agreement being absolute and univocal. The payment so made by us
under this bond shall be a valid discharge of our liability for
payment there under and the contractor(s) / Supplier(s) shall have
no claim against us for making such payment.
4.
We, the
. Bank or our local Branch at
Bhubaneswar
..(detail address & code No. of
local branch to be specified) further agree that the guarantee
herein contain shall remain in full force and effect during the
period of 240 days (Two hundred and forty days) and it shall
continue to do so enforceable till all the dues of the CESU under
by the virtue of the said Bid have been fully paid and its claims
satisfied or discharged or till CESU certifies that the terms and
conditions of the said Bid have been fully and properly carried
out by the said contractor(s) and accordingly discharge this
guarantee. Unless a demand or claim under this guarantee is made
on us in writing on or before the
, we
shall be discharged from all liabilities under this guarantee
thereafter.
5.
We, the
. Bank or our local Branch at Bhubaneswar
further agree that CESU shall have the fullest liberty without our
consent and without affecting in any manner our obligations
hereunder to vary any of the terms and conditions of the said Bid
or to extend time of performance by the said contractor(s) from
time to time or to postpone for any time or from time to time any
of the powers exercisable by CESU against the said contractor(s)
and to forebear or enforce any of the terms and conditions
relating to the said Bid and we shall not be relieved from our
liability by reason of any such variation postponement or
extension being granted by the contractor(s) or for any
forbearance act of omission on part of CESU to the said
contractor(s) or by any such matter or thing whatsoever which
under the law relating to sureties should but for this provisions
have effect of so relieving us.
6.
The guarantee will not be discharged due to change in the
name, style and constitution of the Bank and contractor(s).
7.
We, the
. Bank or our local Branch at Bhubaneswar
lastly undertake not to revoke this guarantee during its currency
except with the previous consent of CESU in writing.
Dated
Day of
. 200....
Witness:-
1
.
2
.
For
..
(indicate name of the Bank with seal)
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