BANGLADESH POWER DEVELOPMENT BOARD TENDER ... - BPDB

26.0 EXCHANGE RATE
For comparison of Proposals, the Board shall convert all the currencies excepting
Bangladesh currency quoted by the Tenderers into Bangladesh Taka. Such
conversions shall be made on the basis of the selling rates for the relevant
currencies quoted by the Sonali Bank on the date of Tender closing and applicable
to similar transactions.
27.0 TENDER SECURITY
The Technical & Financial Proposals shall be accompanied by a Tender Security in
the sum not less than US Dollar 1,000,000 (USD one million) in the form of an
unconditional and irrevocable Bank Guarantee (on non-judicial stamp) by a
scheduled bank in Bangladesh or a foreign bank authenticated by a Scheduled Bank
in Bangladesh payable in favour of Secretary, Bangladesh Power Development
Board, WAPDA Building, Motijheel Commercial Area, Dhaka-1000, Bangladesh. Such
Bank Guarantee shall remain valid for a period of twenty-eight [28] days beyond
the original validity period of Tender or beyond any period of extension
subsequently requested under ITT Clause 3.0 days from the date of opening of the
Tender. If a Tenderer withdraws its Tender during the period of Tender validity
specified by the Tenderer on the Tender Form, the Tender Security shall be
forfeited. The scheduled bank shall guarantee that after conclusion of successful
contract negotiation between the Board and the selected Tenderer and upon
Board's issuing notice of award of contract to the successful Tenderer giving him
fifteen (15) day's notice to enter into contract with the Board within the above
notice period. Otherwise the Security and the Bank Guarantee shall be liable to be
forfeited to the Board. Failure to enclose the Tender Security with the Proposal
shall automatically disqualify the Proposal concerned. A Proposal with a Tender
Security in an amount less than US $ 1,000,000 (USD one million) will not be
considered and will be rejected. The Tender Securities of all the unsuccessful
Tenderers will be returned without interest after the successful Tenderer has signed
the contract and furnish the Performance Security. Specimen form of the Tender
Security is furnished in Appendix -1.
28.0 PERFORMANCE SECURITY
The Contract shall be accompanied by a Performance Security in the form of a Bank
Guarantee issued by a Scheduled Bank in Bangladesh on behalf of the Contractor's
banker. The Performance Security shall be in a penal sum not less than ten
percent (10%) of the accepted Tender, conditioned for the complete and faithful
performance of the Contract according to its tenor and effect and the satisfaction of
obligations for the materials used and labour employed in the same, and shall
insure the payment of any obligations, damages, liquidated damages or expenses
for which the Contractor may become liable to the Board. The Contractor's
Performance Security under these specifications shall remain in full force and effect
until the Contractor has fully performed the Contract including the maintenance and
warranty periods set forth in the scope of works of the Technical Requirements.
Unless a different period of time is allowed in the Notice of Tender, the Contract
shall be signed by the successful tenderer within thirty (30) days after receipt of
notice of award. The specimen of Performance Security is furnished at Appendix-5.
Ghorasal 200 MW -300 MW Gas Turbine Peaking Power Plant Project 2nd Re-tender (Vol-1 of 3)
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