Specifications

57
NLUO PMC CONTRACTOR
SIGNATURE AND SEAL SIGNATURE AND SEAL SIGNATURE AND SEAL
the letter of extension shall be treated as non-encashment of BGB and the Bank shall remit the amount to NLUO. For
enforcing legal rights/remedies under this BGB the Courts of High court, Cuttack jurisdiction.
11. And that the Bank shall not revoke the BG during its currency except with the previous consent in writing of the Vice
Chancellor, NLUO and agree that any change in the constitution of the said contractor or said Bank shall not discharge our
liability hereunder. This BGB shall in all respect and for all-purpose be binding and operative till the validity including
extended period. It shall not be necessary for the NLUO to proceed against the contractor before proceeding against the Bank
and the guarantee herein contained shall be enforceable against the Bank notwithstanding any security, which the Board may
have obtained from the contractor.
12. That this BG shall be enforceable against the Bank or a first change and not available to be appropriated by the Bank towards
claim, if any due to the contractor. That forgive effect for the guarantee the Vice Chancellor, NLUO shall beat liability to act
as though the Bank were the principal debtors.
13. That this BG shall be in full force for a period of twelve months from ___________ and it will hold goods for all demands
make by Vice Chancellor, NLUO.