Annual Rate Contract for O&M Services for NCR GAS O&M ... - GAIL

Bid Security Form
REF :
To
GAIL (INDIA) LTD. BANK GUARANTEE NO.:
DATE :
Dear Sir,
Tender/Bid Document No: GAIL/NCR/C&P/6114
ARC for O&M Services
Section 8
Whereas .............................................................................(hereinafter called "the Bidder") has submitted his
bid dated .......................... for the supply of (hereinafter called "the Bid")
against Bid Document No...........................................................................KNOW ALL MEN by these presents
that WE (BANK) .........................................................................of
.......................................................................having our registered office at
....................................(hereinafter called "the Bank") are bound unto GAIL (India) Limited (hereinafter called
"the OWNER") in the sum of (Refer ........................................) for which payment will and truly to be made to
the said OWNER, the BANK binds itself, its successors and assigns by these presents. Sealed with the Common
Seal of the said BANK this ................................ day of ....................... 200.....
THE CONDITIONS of this obligation are:
1. If the Bidder withdraws his bid during the period of bid validity specified by the Bidder on the Bid Form;
or
2. If the Bidder, having been notified of the acceptance of his bid by the OWNER during the period of bid
validity;
a. fails or refuses to execute the Contract Form, if required or
b. fails or refuses to furnish the Performance Security in accordance with the Instructions to
Bidder or
c. changes the proposed manufacturer after submission of Bid or
d. fails to accept as arithmetical corrections of its bid pertinent to Article-15.2 of Instructions to
Bidders.
We undertake to pay to the OWNER upto the above amount upon receipt of its first written demand, without the
OWNER having to substantiate its demand, provided that in its demand the OWNER will note that the amount
claimed by it is due to it owing to the occurrence of one or both of the two above-stated conditions specifying
the occurred condition or conditions.
This Guarantee will remain in force upto and including a period of two (2) months after the bid validity, and any
demand in respect thereof should reach the BANK not later than the above date.
(Signature of the BANK)
(Signature of the Witness)
Name of Witness
Address of Witness Date:
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