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BID SECURITY (BANK GUARANTEE) WHEREAS,__________________ [name of Bidder] (hereinafter called "the Bidder") has submitted his Bid dated ______________ [date] for the construction of _______ [name of Contract hereinafter called "the Bid"]. KNOW ALL PEOPLE by these presents that We ______________________________________ [name of Bank] of _________________________ [Tender No. & name of country] having our registered office at (hereinafter called "the Bank") are bound unto COMMISSIONER, Pimpari Chinchwad Municipal Corporation [name of Employer] (hereinafter called "the Employer") in the sum of _________________________ * for which payment well and truly to be made to the said Employer the Bank itself, his successors and assigns by these presents. SEALED with the Common Seal of the said Bank this ___________ day of____ , 20_____ THE CONDITIONS of this obligation are: (1) If after Bid opening the Bidder withdraws his bid during the period of Bid validity specified in the Form of Bid; OR (2) If the Bidder having been notified to the acceptance of his bid by the Employer during the period of Bid validity: (a) fails or refuses to execute the Form of Agreement in accordance with the Instructions to Bidders, if required; or (b) fails or refuses to furnish the Performance Security, in accordance with the Instructions to Bidders: or (c) does not accept the correction of the Bid Price pursuant to Clause 27. We undertake to pay to the Employer up to the above amount upon receipt of his first written demand, without the Employer having to substantiate his demand, provided that in his demand the Employer will note that the amount claimed by him is due to him owing to the occurrence of one or any of the three conditions, specifying the occurred condition or conditions. This Guarantee will remain in force up to and including the date__________ ** days after the deadline for submission of Bids as such deadline is stated in the Instructions to Bidders or as it may be extended by the Employer, notice of which extension(s) to the Bank is hereby waived. Any demand in respect of this guarantee should reach the Bank not later than the above date. DATE ____________ SIGNATURE ________________ WITNESS ___________ SEAL _______________________ _____________________________________________________________________________ [Signature, name and address] * The Bidder should insert the amount of the guarantee in words and figures Denominated in Indian Rupees. This figure should be the same as shown in Clause 16.1 of the Instructions to Bidders. ** 45 days after the end of the validity period of the Bid. Date should be inserted by the Employer before the Bidding documents are issued. PERFORMANCE BANK GUARANTEE To COMMISSIONER, [name of Employer] Pimpari Chinchwad Municipal Corporation, [address of Employer] Main Building, Pimpari, Pune 411 018 WHEREAS ________________________________ [name and address of Contractor] (hereafter called "the Contractor") has undertaken, in pursuance of Contract No. ___________ Dated ___________ to execute _________________ [Tender No. & name of Contract and brief description of Works] (hereinafter called "the Contract"). AND WHEREAS it has been stipulated by you in the said Contract that the Contractor shall furnish you with a Bank Guarantee by a recognized bank for the sum specified therein as security for compliance with his obligation in accordance with the Contract; AND WHEREAS we have agreed to give the Contractor such a Bank Guarantee: NOW THEREFORE we hereby affirm that we are the Guarantor and responsible to you on behalf of the Contractor, up to a total of ______________________________[amount of guarantee] * (in words), such sum being payable in the types and proportions of currencies in which the Contract Price is payable, and we undertake to pay y

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