invitation for bids - Gail

F-9To:M/s. GAIL (India) Limited,PROFORMA OF BANK GUARANTEE FORCONTRACT PERFORMANCE BANK GUARANTEE/SECURITY DEPOSIT(ON NON-JUDICIAL PAPER OF APPROPRIATE VALUE)Dear Sir (s),In consideration of the GAIL (India) Ltd., Vaghodia (here in after referred to as the OWNER which expression shall unless repugnant to the context ofmeaning that include its successors, administrators and assigns) having awarded toM/s..................................................................................................................having Principal Office at.............................(herein after referred to as the"CONTRACTOR" which expression shall unless repugnant to the context or meaning thereof include their respective successors, administrators, executorsand assigns) the WORK by issue Letter of Award No.............Dated............. and the same having been accepted by the CONTRACTOR resulting intoCONTRACTS for completion of work as per above referred Letter of Award having a total value of Rs...................(Rupees………………………………………………………………………….)for the complete supply of materials/equipments and the Contractor having agreed to provide a Contract Performance and warranty Guarantee for thefaithful performance of the aforementioned contract and warranty to quality for 10% value of the order viz Rs ................ (Rupees ......................) to OWNER.We, (Bank) , (code_________) having its Head Office at ……………hereinafter referred to as the "Bank" which expression shall unless repugnant to thecontract or meaning thereof include its successors, administrators, executors and assigned do hereby guarantee and undertake to pay the OWNER, ondemand any and all moneys payable by the seller to the extent of 10% (ten percent) of the Contract Price as aforesaid at any time up to................. withoutany demur, reservation, context recourse or protest and/or without any reference to the CONTRACTOR. Any such demand made by OWNER on the Bankshall be conclusive and binding notwithstanding any difference between OWNER and Contractor or any dispute pending before any Court, Tribunals,Arbitrator or any other Authority. The Bank undertakes not to revoke this guarantee during its currency without previous consent of OWNER and furtheragrees that the guarantee herein contained shall continue to be enforceable till the OWNER discharges this guarantee OWNER shall have the fullest libertywithout affecting in any way the liability of the BANK under this guarantee from time to time to extend the time for performance by Contractor or any one ormore CONTRACTS of all contracts enumerated above. OWNER shall have the fullest liberty, without affecting this guarantee, to postpone from time to timethe exercise of any power vested in them or of any right which they might have against Contractor and to exercise the same at any time in any manner, andeither to enforce to forebear to enforce any covenants contained or impelled, in the aforementioned Contracts between OWNER and Contractor or any othercourse of or remedy or security available to OWNER. The bank shall not be released of its obligations under these presents by any exercise by OWNER ofits liability with reference to the matters aforesaid or any of them or by reason or any other acts of omission or commission on the part of OWNER or anyother indulgence shown by OWNER or by any other matter or thing whatsoever which under law would, but for this provision, have the effect of relieving theBank.The BANK also agrees that OWNER at its option shall be entitled to enforce this Guarantee against the Bank as a Principal Debtor, in the first instancewithout proceeding against Contractor and notwithstanding any security or other guarantee that OWNER may have in relation to the Contractor’s liabilities.Not withstanding anything contained herein above our liability under this Guarantee is restricted to Rs................................ (Rupees........................ AND itshall remain in force upto and including.................................... and shall be extended form time to time for such period as may be desired by the Contractoron whose behalf this Guarantee has been given.Dated this…………date of……………Place:WITNESSINSTRUCTIONS FOR FURNISHINGCONTRACT PERFORMANCE BANK GUARANTEE/SECURITY DEPOSIT1. The Bank Guarantee by successful bidder(s) will be given on non-judicial stamp paper as per stamp duty applicable. The non-judicial stamppaper should be in name of the issuing bank. In case of foreign bank, the said bank guarantee to be issued by its correspondent bank in Indiaon requisite non-judicial stamp paper and place of bid to be considered as Delhi.2. The Bank Guarantee by bidders will be given from bank as specified in the ‘General Terms & Conditions’.3. A letter from the issuing bank of the requisite Bank Guarantee confirming that said Bank Guarantee and all future communication relating to theBank Guarantee shall be forwarded to EmployerIf a Bank Guarantee is issued by a commercial bank, then a letter to Owner and copy to Consultant confirming its net worth is more than Rs.1,000,000,000/- (Rupees one hundred crore) or its equivalent in foreign currency along with a documentary evidence.