UDYOG BANDHU

provide an undertaking that Key Personnel will remain on the assignment till the endof the contract and also that the professional mentioned in Annexure-2(i) shallremain with the assignment till the end of contract. Any change in the personnel shallnot be done without prior permission of Udyog Bandhu.5. TERMINATION OF CONTRACTUDYOG BANDHU may terminate the Contract in whole or part without assigning anyreason if:-• Consultant fails to perform any of the obligation(s) under the Contract.• Consultant is in material breach of the representations and warrantiescontained in its bid.The termination of contract shall be made by prior written notice of default sent to theConsultant. The consultant is not authorized to terminate the agreement before itsmaturity.6. FORCE MAJEUREIf the performance as specified in the Letter of Award is prevented, restricted,delayed or interfered by any unforeseen reasons or eventualities beyond control ofthe party affected, then the party affected shall be excused from its performance andprovided the party so affected uses its best efforts to remove such cause of nonperformanceand when removed, the party shall continue performance.7. PERFORMANCE BANK GUARANTEEi. The consultant will be required to provide a Performance Guarantee of anamount equivalent to 10% of the finalized assignment fee in the form of bankguarantee from a SBI and its associates Banks/Scheduled/Nationalized/Commercial bank. The performance bank guarantee shallremain valid till at least Six months period beyond the expiry of the contractperiod along with an invocation period of further 3 months from the date ofexecution of agreement.ii. Format of performance bank guarantee shall be uploaded on our websiteprior to the date of submission of bids.29th May, 2013 Page 13