Tender Document - SFCI

5. That the equipment shall carry l5 months warranty commencing from the date of
receipt of equipment at the site or l2 months from the date of installation and
commissioning of equipment whichever is earlier.
AND WHEREAS by virtue of the said Agreement the supplier is required to furnish
the security for performance of the equipment as per warranty clause by way of Bank
Guarantee for the l0% value of the equipment i.e., Rs.____________.
NOW THEREFORE We _____________________________________ The Bank do
hereby Guarantee that in the event of the Corporation declaring that he supplier has
committed breach of the warranty clause in respect of whole of the contracted equipment any
part thereof, we the Bank shall pay to the Corporation such amount as may be demanded by
the Corporation under the said declaration without any demur or asking for any reason.
We __________________________________________________The Bank
understand that it shall not be obligatory on the Corporation to demand the said money from
the supplier and the Bank shall make the payment immediately on demand.
We ____________________________________________________(the Bank )
further agree that this Guarantee shall remain in full force and effect during the period that
would be taken for satisfactory performance and fulfillment in all respects and it shall
continue to be enforceable for a period of 3 (three) months more, over and above the warranty
period and that it shall be irrevocable.
Date_____ day of the_____
For ____________ (Bank).