Sample Template Example of Beautiful Excellent Professional Sample Performance Bank Guarantee Format in Word Free Download in Word / Doc / Pdf Free Download
Sample Performance Bank Guarantee Format in Word Free Download
PERFORMANCE
BANK GUARANTEE
Bank Guarantee No. …………. Dated ……….
Stabnet Tyres Limited
12/2 N S Road
Kolkata – 400 001
- WHEREAS M/s. Stabnet Tyres Limited having its registered office at 12/2 N S Road Kolkata – 400 001 (hereinafter referred to as ”Company” has issued a contract vide Letter of Intent / Work Order No. ……….. Dated ………. (hereinafter called the “Contract”) for the Supply and Erection of PEB at its existing factory site of pre – approved design and layout on the terms and conditions specified in the contract to Starnet Steel Buildings India Pvt. Ltd having its office at Office no. 45/5, Ground Floor, Heaven Centre Point, Cuinnigham Road, Bangalore-560001 and represented by its partners/directors-------------------------- (hereinafter called the “”Contractor””).
- AND WHEREAS under the terms of the said order the “Contractor”
is required to furnish the Company at his own cost a Bank Guarantee for an
amount of Rs. ………. being the amount equivalent to 5 (Five) percentage of
the total value of the order for fulfilling the contract.
- We, ----name of the bank--------------,
----branch--------, the said banker of the “Contractor” at the request of
the “Contractor”, agreed to issue Bank Guarantee in terms of the said
order on behalf of the ”Contractor” and the “Company” has agreed to accept
the same. It is hereby stipulated and agreed that the “Contractor” shall
repair or replace free of cost equipment, materials, machinery, its parts
and components found defective on account of workmanship or defective
material or inferior manufacturing, as mentioned in Warranty and Guarantee
Clause of the Order for period of ------------------------------------.
- This guarantee will be operational subject to receipt
of payment of Rs………. Which is 10% of the contract value of Rs…………
- We agree and undertake to pay on demand and without
demur to the extent of Rs. ……… (Rupees……………………only) to the “Company” in
case of failure on the part of the Contractor to perform its obligation for
any reason whatsoever provided the Company informs us in writing to this
effect.
- We agree and undertake to pay to the “Company” the
said sum of Rs. ………………
(Rupees…………………………………….Only) as aforesaid in spite of any objection
which may be put by the “Contractor”. A mere letter from the “Company”
conveying to us that the “Contractor” has not fulfilled any of the
aforesaid terms will be binding on us we will pay the amount so demanded
by the “Company” irrespective of the “Contractor” taking legal resource.
- Notwithstanding anything contained hereinafter the
liability of the Bank in respect of this Guarantee is restricted to Rs. ………….
(Rupees …………………………………….. only) and it will remain in force till ……….. This
guarantee will remain in force upto ……….. in the first instance. However,
if the contract for which this guarantee is given is not completed or
fully performed, we (the bank) hereby agrees to further extend the
Guarantee till such time as is required to fulfill the contract.
- We (the Bank) shall not be discharged or released
from this Guarantee by any arrangement between the Company and the
Supplier with or without our consent or by any alteration in the
obligation of the parties or by any indulgence, forbearance, whether as to
payment, time performance or otherwise.
- This guarantee shall be discharged and shall be returned by us to M/s. Starnet Steel Buildings India Pvt. Ltd having its office at Office no. 45/5, Ground Floor, Heaven Centre Point, Cuinnigham Road, Bangalore-560001 upon completion of this period of ……………..
- We also undertake not to revoke this guarantee during its currency except with the previous consent in writing of the “Company”.
- This guarantee has been executed by ………………………& ………………… who are duly authorized to execute Bank Guarantee on behalf of our Bank by power of Attorney No. ………& …………respectively.
NOTWITHSTANDING ANYTHING CONTAINED HEREIN ABOVE :
a. Our liability under this Bank Guarantee shall not exceed Rs. …………(Rupees ……………………………………………… Only)
b.
The Guarantee shall remain in force till ………..
c. We are liable to pay the guarantee amount and or any part thereof under this Bank Guarantee only and if you serve upon us a written claim or demand on or before ………..
Place :
Date :
In witness whereof the said Bank subscribe and set its name and seal hereupto ………………. the day.
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