visakhapatnam steel plant materials management ... - Vizag Steel

ANNEXURE-V TO TENDER NO PUR.1.41.0073/1182 Dt 01.05.2013)PROFORMA OF BANK GUARANTEE FOR BID BOND(To be typed on Non-judicial stamp paper of the value of Indian Rupees of OneHundred)TO BE ESTABLISHED THROUGH ANY OF THE NATIONALISED BANKS(WHETHER SITUATED AT VISAKHAPATNAM OR OUTSATTION) WITH ACLAUSE TO ENFORCE THE SAME ON THEIR LOCAL BRANCH ATVISAKHAPATNAM OR ANY SCHEDULED BANK (OTHER THAN NATIONALISEDBANK) SITUATED AT VISAKHAPATNAM. BONDS ISSUED BY CO-OPERATIVEBANKS ARE NOT ACCEPTED.ToRashtriya Ispat Nigam LimitedVisakhapatnam Steel Plant,Admn. Building,Visakhapatnam-530 031.INDIA.Bank Guarantee No.Dt.LETTER OF GUARANTEEWHEREAS Rashtriya Ispat Nigam Ltd., Visakhapatnam Steel Plant (hereinafterreferred to as RINL) have invited Tenders vide Tender No. Pur.1.41.0073/1182 Dt 01.05.2013 (hereinafter referred to as the said Invitation toTender) for TOTAL TEMPERATURE MANAGEMENT.AND WHEREAS the said Invitationto Tender requires that any eligible Tenderer wishing to make an offer in responsethereto shall establish an irrevocable Bid Bond in favour of RINL in the form of BankGuarantee for (**) Rs. ………. and valid upto ………. as guarantee that the tenderer:a) shall keep his offer firm and valid for acceptance by RINL till _________________.b) shall, in the event of the offer being accepted by RINL, establish aPerformance Guarantee (PG) Bond in favour of RINL, in the form of BankGuarantee covering 5% ( Five percent) of the value of the quantity of Instrumentfor Temperature, Oxygen and Hydrogen Measurement ordered at the price and on theterms accepted by RINL, within 30 (Thirty) days from the date of Acceptance toTender / LOA or before commencement of supplies, whichever is earlier.AND WHEREAS M/s.......................(hereinafter referred to as the saidTenderer) wish to make an offer in response to the said Invitation to Tender for theTOTAL TEMPERATURE MANAGEMENT on the basis of (**)FOR VSP Stores .NOW THISBANK HEREBY GUARANTEES that in the event of the said Tenderer failing to abideby any of the conditions referred to in any of the preceding paragraphs, this Bankshall pay to Rashtriya Ispat Nigam Ltd., Visakhapatnam Steel Plant, Visakhapatnam,INDIA on demand and without protest or demur (**) Rs……………(Rupees…………...).This Bank further agrees that the decision of RINL as to whether the said Tendererhas committed a breach of any of the conditions referred to in the precedingparagraphs, shall be final and binding.28