Tender Documents - Oil India Limited

FORM OF BID SECURITY (BANK GUARANTEE)
To:
M/s. OIL INDIA LIMITED,
For Head(Contracts)
Duliajan, Assam, India, Pin - 786 602.
PROFORMA-E
WHEREAS, (Name of Bidder) ______________________ (hereinafter called "the Bidder")
has submitted their offer Dated __________ for the provision of certain oilfield
services (hereinafter called "the Bid") against OIL INDIA LIMITED, Duliajan, Assam,
India (hereinafter called the Company)'s IFB No. ______________. KNOW ALL MEN BY
these presents that we (Name of Bank) _____________ of (Name of Country) __________
having our registered office at _____________ (hereinafter called "Bank") are bound
unto the Company in the sum of (*) for which payment well and truly to be made to
Company, the Bank binds itself, its successors and assignees by these presents.
SEALED with the common seal of the said Bank this ______ day of _____ 2011.
THE CONDITIONS of these obligations are:
(1) If the Bidder withdraws their Bid during the period of Bid validity specified by
the Bidder; or
(2) If the Bidder, having been notified of acceptance of their Bid by the Company
during the period of Bid validity:
(a) Fails or refuses to execute the form of agreement in accordance with the
Instructions to Bidders; or
(b) Fails or refuses to furnish the Performance Security in accordance with the
Instructions to Bidders;
We undertake to pay to Company up to the above amount upon receipt of its first
written demand (by way of letter/fax/cable), without Company having to substantiate
its demand provided that in its demand Company will note that the amount
claimed by it is due to it owing to the occurrence of one or both of the two conditions,
specifying the occurred condition or conditions.
This guarantee will remain in force up to and including the date (**) and any demand
in respect thereof should reach the Bank not later than the above date.
SIGNATURE AND SEAL OF THE GUARANTORS _______________
Name of Bank & Address ___________________________________
Witness _______________
Address ________________
__________________________
(Signature, Name and Address)
Date: ________________
Place: _____________
* The Bidder should insert the amount of the guarantee in words and figures.
** Date of expiry of Bank Guarantee should be minimum 30 days after the end of the
validity period of the Bid.