Pipelaying Tender-VOL I - WorleyParsons.com

Annexure- IProformaBANK GUARANTEE IN LIEU OF LIQUIDATED DAMAGES(On Non-Judicial stamp paper of appropriate value)To:Hindustan Petroleum Corporation Limited8th Floor, North Tower, Scope MinarDistrict Centre ,Laxmi NagarNew Delhi -110092IN CONSIDERATION OF MESSRS. HINDUSTAN PETROLEUM CORPORATION LIMITED aGovernment of India Company registered under the Companies Act, 1956, having its registeredoffice at 17, Jamshedji Tata Road, Churchgate, Mumbai — 400 020 (hereinafter called "TheCorporation" which expression shall include its successor in business and assigns) agreeing togrant a provisional extension of time in respect of the contract entered into withMessrs…………………………………………….a sole proprietorship business/ partnership firm/ acompany registered under the Companies Act, 1956 having its officeat………………………………………….. (hereinafter called "the Contractor", whichexpression shall include its executors, administrators and assigns) against Purchase OrderNo…………………….. dated……………… (hereinafter called "the Contract" which expressionshall include any amendments / alterations to "the contract" issued by "the Corporation")for……………………. (state the purpose of the Contract), and the Contractor having requested forextension of time without deduction of any Liquidated Damages from the bills in terms of theContract and "the Corporation" having agreed to grant provisional extension of time pending adecision on the request for extension of time and not to insist upon immediate deduction / paymentof Liquidated Damages upon receipt of this unconditional irrevocable Bank Guarantee for anamount of Rs ……………………..(Rupees …………………………only).1 . We. ....................................... Bank having our office at .................................................Bombay (hereinafter referred to as "the Bank" which expression shall include itssuccessors and assigns) at the request and on behalf of "the Contractor" hereby agreeto pay to the Corporation without any demur and on first demand an amount notexceeding Rs ......................... (Rupees ..................................... only) against any loss ordamage, costs, charges and expenses caused to or suffered by or likely to be caused toor suffered by "the Corporation" by reason of the delay in performance of work or theCorporation agreeing to grant such provisional extension of time without insisting ondeduction of Liquidated Damages.2 . We. ........................................ Bank further agree that "the Corporation" shall be soleJudge whether the said "Contractor" has failed to perform or fulfill the said "Contract" interms thereof or committed breach of any of the terms and conditions of "the purchaseorder/Contract" or was not entitled to any extension of time and also the extent of loss,damage, cost, charges and expenses suffered or incurred or would be suffered orincurred by "the Corporation" on account thereof and we waive in favour of "theCorporation" all the rights and defences to which we as guarantors and/or "theContractor" may be entitled to.MH2145-C000-PS-RFQ-0020Page 305 of 334