7/28/2019 Bid Security

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BID SECURITY GUARANTEE

To

M/s. Madhucon Projects Limited,

Madhucon House,

Plot No.1129/A,

Road No.36, Hitec City Road,

Jubilee Hills,

Hyderabad 500 033

WHEREAS ____________________________________________________________ [name and address of Bidder]

(hereinafter called the Bidder) shall be submitting its Bid in response to Tender Notice No.:___________________________ Dated ___________ for the work

________________________________________________________________________________. [name of the work

(hereinafter called the Bid)]

KNOW ALL MEN by these present that we __________________(bank) having our registered office at

_________________________________- and one of our branches at _________________________________ (hereinafter

called the bank), are bound unto the M/s. Madhucon Projects Limited Madhucon House, Plot No.1129/A, Road No.36,

Hitec City Road, Jubilee Hills, Hyderabad 500 033 (hereinafter called the Employer) for the sum ofRs.____________

(Rupees _______________________only) for which payment well and truly to be made to the said Employer the bank binds

itself, his successors and assigns by these presents.

THE CONDITION of this obligation are:

1. If the bidder withdraws its Bid during the period of Bid Validity specified by the employer on the bid form;

or

2. If the Bidder having been notified of the acceptance of its bid by the Employer during the period of BidValidity:

a. Fails or refuses to execute the contract Agreement when required; or

b. Fails or refuses to furnish the Performance Security (if any) in accordance with the Bid conditions.

This guarantee will remain in full force up to and including the date _________(number of days)days after the deadline

for submission of bids as contained in the Bid or as it may be extended by the Employer, notice of which extension(s) tothe Bank is hereby waived. Any demand in respect thereof should reach the Bank not later than the date of expiry of this

guarantee.

We _____________ (bank) do hereby undertake to pay the amounts due and payable under this guarantee without

any demur, merely on a demand from the Employer. Any such demand made on the Bank shall be conclusive as

regards the amount due and payable by the Bank under this guarantee. However, our liability under this guarantee

shall be restricted to an amount not exceedingRs._______________ (Rupees ________________ only)

We undertake to pay the money so demanded not with standing any dispute or disputes raised by the Bidder in any

suit or proceeding pending before any court of Tribunal relating thereto.

We, _________________( Bank) lastly undertake not to revoke this guarantee during its currency except with the

previous consent of the Employer, in writing.

This bank Guarantee will not be discharged due to the change in the constitution of the Bank or the Bidder.

We, ___________(Bank) undertake to pay to the Employer up to the above amount upon receipt of its first written

demand, without the Employer having to substantiate its demand, provided that in its demand the Employer will

note that the amount claimed by it is due to it owing the occurrence of 1 or both of the 2 (a) or (b) specifying the

occurred condition or conditions. We hereby waive the necessity of your demanding the said debt from the Bidder

before presenting us with the demand.

7/28/2019 Bid Security

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