Hyderabad Metro Rail Limited

Schedule -2: Form of Agreement
Annex-7
Bank Guarantee for Performance Security
(Refer Clause 7.1.3)
To
The Managing Director,
Hyderabad Metro Rail Limited,
Metro Rail Bhavan,
Saifabad, Hyderabad – 500004.
In consideration of ___________ acting on behalf of the Managing Director,
Hyderabad Metro Rail Limited (hereinafter referred as the “Authority”, which
expression shall, unless repugnant to the context or meaning thereof, include its
successors, administrators and assigns) having awarded to M/s ………………..,
having its office at ……………….. (hereinafter referred as the “Consultant” which
expression shall, unless repugnant to the context or meaning thereof, include its
successors, administrators, executors and assigns), vide the Authority‟s Agreement
no. ………………. dated ……………….. valued at Rs. ……………….. (Rupees
………………..), (hereinafter referred to as the “Agreement”) a consultancy services
for Hyderabad Metro Rail Project, and the Consultant having agreed to furnish a
Bank Guarantee amounting to Rs.……………….. (Rupees ………………..) to the
Authority for performance of the said Agreement.
We, ……………….. (hereinafter referred to as the “Bank”) at the request of
the Consultant do hereby undertake to pay to the Authority an amount not exceeding
Rs. ………………… (Rupees ………………….) against any loss or damage caused
to or suffered or would be caused to or suffered by the Authority by reason of any
breach by the said Consultant of any of the terms or conditions contained in the said
Agreement.
2. We, ……………….. (indicate the name of the Bank) do hereby undertake to
pay the amounts due and payable under this Guarantee without any demur, merely on
a demand from the Authority stating that the amount/claimed is due by way of loss or
damage caused to or would be caused to or suffered by the Authority by reason of
breach by the said Consultant of any of the terms or conditions contained in the said
Agreement or by reason of the Consultant‟s failure to perform the said Agreement.
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
RFP for Financial Consultant: Hyderabad Metro Rail (MRTS) Project 82