Annexure A – Part c

FORM OF BID SECURITY (BANK GUARANTEE)

WHEREAS, ...........................(name of Bidder including names of all Joint Venture
Participants) (hereinafter called ―the Bidder‖) has submitted its Bid (hereinafter called
the ―Bid‖) dated (date) for the performance of (name of Contract).

KNOW ALL PEOPLE by these presents that We .................... (name of Bank) of

.................... (name of country) having our registered office at .................... (hereinafter
called ―the Bank‖) are bound unto .................... (hereinafter called ―the Owner‖) in the
sum of ....................for which payment well and truly to be made to the said Owner, the
Bank binds itself, its successors, and assigns by these presents.
[The Bidder should insert the amount of the guarantee in words and in figures. This
figure should be the same amount as set out in ITB Section 3.4(a) and the Bid Data
Sheet. The details related to the Bid Security are set out in the same ITB Section 3.4.]
The CONDITIONS of this obligation are:
a. if the Bidder withdraws its Bid during the Bid Validity Period; or
b. if the Bidder, having been notified of the acceptance of its Bid by the Owner
during the period of Bid validity,
1. fails to sign the Form of Contract in accordance with and when required by
ITB Section 6.4; or
2. fails to provide the performance security to the Owner in accordance with and
when required by ITB Section 6.5.
We undertake to pay to the Owner up to the above amount upon receipt of its first
written demand, without the Owner having to substantiate its demand, provided that in
its demand the Owner will note that the amount claimed by it is due to it owing to the
occurrence of one or more of the conditions set out above, specifying the occurred
condition or conditions.
This Guarantee will remain in full force up to and including 45 days after the expiry of
the Bid Validity Period and it may be extended by the Owner in accordance with the
Bidding Documents, 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 or the extended date.
This guarantee is subject to the Uniform Rules for Demand Guarantees (URDG) 2010
Revision, ICC Publication No. 758except that the supporting statement under Article
15(a) is hereby excluded.

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