Specifications

55
NLUO PMC CONTRACTOR
SIGNATURE AND SEAL SIGNATURE AND SEAL SIGNATURE AND SEAL
PERFORMANCE BANK GUARANTEE
1. Whereas the NLUO and M/s ………………(herein after referred to as contractor) have come to and agreement for
construction of Interior Furnishing & Finishing Work of Administrative block for NLUO, vide letter no.
NLUO/Wks/…………..dated…………..
2. And whereas, as per the terms of the contract executed the contractor is to furnish performance BG for………………….(5%
for contract value) valid up to Virtual Completion Certificate (12 months).
NOW THEREFORE THESE WITNESS
3. We (Name of the Bank ) (herein after referred to as the Bank) in consideration of NLUO, having agreed to pay the contractor
at rates as provided in the agreement executed between them, hereby agree with NLUO.
4. We…………..(Bank) do hereby undertake to pay the amount due and payable under this guarantee without any Demur, merely
on a demand from Board, stating that the amount claimed is due by way a loss or damage caused to or would be caused to or
suffered by the NLUO, by reason or any breach by the said agreement or by reason of the contractor’s failure to perform the
said agreement. 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 BG shall be restricted for any amount not exceeding value of this BG.
5. We………..(Bank) further agree that the guarantee herein contained, shall remain in full force and effect during the period that
would be taken for the performance of the said agreement and that it shall continue to be enforceable till NLUO certifies that
the Terms & Condition of the said agreement has been full and properly carried out by the said contractor and accordingly