TENDER - IDCO

GUIDELINES ON BANK GUARANTEE
The following points are required to be noted by the party while submitting any
Bank Guarantee.
1. Non-judicial stamp papers on which Bank Guarantee is typed must be purchased
in the name of the issuing Bank.
2. The Bank Guarantee must be executed on non-judicial stamp paper of the value
applicable in the State, where the Bank Guarantee has been executed.
3. The Bank Guarantee must be furnished in the given proforma by any
Nationalised Bank and made operable at Bhubaneswar only.
4. The Bank Guarantee must be executed within six months from the date of
purchase of non-judicial stamp papers.
5. The Bank Guarantee should never be typed on both sides of the non-judicial
stamp papers.
6. The Bank Officer executing the Bank Guarantee must furnish the number and
date of power of Attorney / Delegation of Authority by which, he has been
authorised to issue the Bank Guarantee.
7. The person executing the Bank Guarantee must write his full name and
designation.
8. The person, executing the Bank Guarantee, must sign in all pages of Bank
Guarantee.
9. All cuttings / additions / over writings in inks must be authenticated by the
person executing the Bank Guarantee by his signature and seal of the Bank.
10. Execution of Bank Guarantee must be witnessed by two persons.
11. Witnesses must mention their full name and address.
12. Three months time must be given to file claim or suit from the date of expiry of
the Bank Guarantee.
13. The Act, under which issuing Bank is constituted, should be correctly given.
14. If EMD is deposited in shape of Bank Guarantee, it should be valid, operative and
irrecoverable till 60 (sixty days) after the validity of offer.
15. All dates should be carefully and correctly put in the Bank Guarantee.
No. of Correction :
No. of overwriting :
Signature of the Contractor