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    EBG Services - Model PS

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    Sabyasachi Naik (Zico)
    1) The document is a model bank guarantee format for performance security that a supplier would provide to the Governor of Odisha. 2) It stipulates that the supplier must furnish a bank guarantee as security for complying with its contractual obligations for supplying goods. 3) The bank guarantee is valid until a specified date, and the bank will pay the guaranteed amount if the customer serves a written claim before that date, establishing the supplier's default. Otherwise, the bank will not be liable after that date.

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    © All Rights Reserved

    EBG Services - Model PS

    Uploaded by

    Sabyasachi Naik (Zico)
    41 views1 page
    1) The document is a model bank guarantee format for performance security that a supplier would provide to the Governor of Odisha. 2) It stipulates that the supplier must furnish a bank guarantee as security for complying with its contractual obligations for supplying goods. 3) The bank guarantee is valid until a specified date, and the bank will pay the guaranteed amount if the customer serves a written claim before that date, establishing the supplier's default. Otherwise, the bank will not be liable after that date.

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    Workshop Presentation

    Original Title

    EBG Services_Model PS

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    1) The document is a model bank guarantee format for performance security that a supplier would provide to the Governor of Odisha. 2) It stipulates that the supplier must furnish a bank guarantee as security for complying with its contractual obligations for supplying goods. 3) The bank guarantee is valid until a specified date, and the bank will pay the guaranteed amount if the customer serves a written claim before that date, establishing the supplier's default. Otherwise, the bank will not be liable after that date.

    Copyright:

    © All Rights Reserved
    41 views1 page

    EBG Services - Model PS

    Uploaded by

    Sabyasachi Naik (Zico)
    1) The document is a model bank guarantee format for performance security that a supplier would provide to the Governor of Odisha. 2) It stipulates that the supplier must furnish a bank guarantee as security for complying with its contractual obligations for supplying goods. 3) The bank guarantee is valid until a specified date, and the bank will pay the guaranteed amount if the customer serves a written claim before that date, establishing the supplier's default. Otherwise, the bank will not be liable after that date.

    Copyright:

    © All Rights Reserved
    of 1

    ANNEXURE-D

    [Rule 213 (ii)]

    Model Bank Guarantee Format for Performance Security


    To
    The Governor of Odisha.

    WHEREAS (name and address of the supplier)


    (hereinafter called the has undertaken, in pursuance of contract
    dated to supply (description of goods and
    .
    AND WHEREAS it has been stipulated by you in the said contract that the supplier shall
    furnish you with a bank guarantee by a scheduled commercial bank recognized by you for
    the sum specified therein as security for compliance with its obligations in accordance with the
    contract;
    AND WHEREAS we have agreed to give the supplier such a bank guarantee;
    NOW THEREFORE we hereby affirm that we are guarantors and responsible to you, on behalf of
    the supplier, up to a total of . (amount of the guarantee
    in words and figures), and we undertake to pay you, upon your first written demand declaring
    the supplier to be in default under the contract and without cavil or argument, any sum or sums
    within the limits of (amount of guarantee) as aforesaid, without your needing to prove or to
    show grounds or reasons for your demand or the sum specified therein.
    We hereby waive the necessity of your demanding the said debt from the supplier before
    presenting us with the demand.
    We further agree that no change or addition to or other modification of the terms of the
    contract to be performed thereunder or of any of the contract documents which may be made
    between you and the supplier shall in any way release us from any liability under this guarantee
    and we hereby waive notice of any such change, addition or modification.
    This guarantee shall be valid until .. day of
    Our.................................................................. branch at ...................* (Name & Address of the .............................*
    branch) is liable to pay the guaranteed amount depending on the filing of claim and any part thereof
    under this Bank Guarantee only and only if you serve upon us at our .............................* branch a
    written claim or demand and received by us at our .............................* branch on or before
    Dt....................otherwise bank shall be discharged of all liabilities under this guarantee thereafter.

    (Signature of the authorized officer of the Bank)

    Name and designation of the officer

    Seal, name & address of the Bank and address of the Branch

    * Preferably at the headquarters of the authority competent to sanction the expenditure for
    purchase of goods or at the concerned district headquarters or the State headquarters.

    278 | ODISHA GENERAL FINANCIAL RULES, 2023

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