CONTRACT PERFORMANCE GUARANTEE. 1.03.1 The Contract Performance Guarantee to be furnished under this Agreement shall be for guaranteeing the commencement of supply of power up to the Contracted Capacity within the time specified in this Agreement.
1.03.2 If the Seller fails to commence supply of power from the Scheduled Commissioning Date specified in this Agreement, subject to conditions mentioned in Article 9, MPPMCL shall have the right to encash the Performance Bank Guarantee without prejudice to the other rights of MPPMCL under this Agreement.
CONTRACT PERFORMANCE GUARANTEE. 21.1 As security for the timely fulfillment of the obligations assumed by the Concession Holder under the present Contract, the Concession Holder shall post a guarantee in the amount of US$10 million, which shall be kept in effect throughout the term of the Concession and updated in accordance with the Producer Price Index for Finished Goods, Seasonally Adjusted – Total, published monthly by the Bureau of Labor Statistics of the United States Department of Labor. The posting of this guarantee may not be invoked by the Concession Holder as a means of limiting or avoiding the complete fulfillment of all of the obligations assumed by the Concession Holder under the present Contract. The issuing bank and the terms on which the guarantee is issued and/or renewed must be approved by the Office of the Head of the Cabinet. The aforementioned guarantee may be renewable for successive periods of no less than two years, such renewal to occur no less than 60 days in advance of each expiration date.
CONTRACT PERFORMANCE GUARANTEE. 3.1 [The Purchaser has submitted to the Seller on or prior to signing of this Agreement, Contract Performance Guarantee (CPG) for an amount computed as per the following formula]7 /[On signing of this agreement, the Commitment Guarantee (CG) provided by the Purchaser prior to issue of Letter of Assurance (LOA) shall stand converted into the Contract Performance Guarantee (CPG) for an amount computed as per the following formula:8
3.2 Accordingly, a sum of Rs. [•] (Indian Rupees ) is deemed to have been deposited by the Purchaser towards the Contract Performance Guarantee amount. [In the event the Commitment Guarantee amount provided by Purchaser is more than the Contract Performance Guarantee amount as determined under this clause, Seller shall return such balance amount within 3 (three) months from the date of signing of this Agreement. In the event, the Contract Performance Guarantee amount as determined under this clause is more than the Commitment Guarantee amount, the Purchaser shall deposit such balance amount within 3 (three) months from the date of signing this agreement. Failure to submit the balance amount by the Purchaser within 3 (three) months from the date of signing of this agreement shall entitle the Seller to adjust the ACQ such that it is commensurate with the Contract Performance Guarantee required to be submitted by the Purchaser under Clause 3]9.
3.3 CPG may be provided in the form of non-interest-bearing security deposit or in the form of bank guarantee. In case the CPG is provided in the form of a bank guarantee, the same shall be provided in the format placed at SCHEDULE II.
3.4 The CPG shall remain valid till 4 (four) months from the date of expiry of the Term of this agreement. In case of extension of the Term of this agreement, the CPG shall be extended accordingly. The CPG shall be returned or refunded to the Purchaser at the end of its validity, subject to successful completion of the Term of this agreement and complete settlement of all claims of the Seller arising out of this Agreement.
3.5 The value of the CPG shall be suitably increased / decreased to match the changes in the Notified Price notified by the Seller from time to time.
3.5.1 In the event of any increase in the Notified Price, the Purchaser may:
3.5.1.1 provide a new bank guarantee issued by any Acceptable Bank for the revised value 7 To retain in case of direct FSA route 8 To retain in case of LOA route 9 To retain in case of LOA route computed as per Clause 3....
CONTRACT PERFORMANCE GUARANTEE. We further agree that if our proposal is accepted, we shall provide a Contract Performance Guarantee of value, equivalent to ten percent (10%) of the Contract Price as stipulated in Bid document in the form of Bank Guarantee (Please specify the form of guarantee) in your favour within 15 (Fifteen) days from the date of placement of Letter of Award. Dated..................this.................day of. 2018 Thanking you, we remain, Date Yours faithfully, Place (Signature) (Printed Name) (Designation) (Common Seal) Business Address: Name & Address of Authorized Signatory:
CONTRACT PERFORMANCE GUARANTEE. 3.5.1 The Performance Guarantee furnished under this Agreement shall be for guaranteeing the commencement and continuity of the supply of power up to the Contracted Capacity within the time specified in this Agreement.
3.5.2 The failure on the part of the Seller to furnish and maintain the Contract Performance Guarantee shall be a material breach of the term of this Agreement on the part of the Seller.
3.5.3 If the Seller fails to commence supply of power on the respective Revised Scheduled Delivery Date or the Scheduled Delivery Date specified in this Agreement, subject to conditions mentioned in Article 4.7.1, the Procurer shall have the right to encash the Contract Performance Guarantee and appropriate in their favour as liquidated damages an amount specified in Article 4.8.1, without prejudice to the other rights of the Procurer under this Agreement.
CONTRACT PERFORMANCE GUARANTEE. We further agree that if our proposal is accepted, we shall provide a Contract Performance Guarantee of value, equivalent to ten percent (10%) of the Contract Price as stipulated in Bid document in the form of Bank Guarantee (Please specify the form of guarantee) in your favour within 30 (Thirty ) days from the date of placement of Letter of Award. Dated..................this.................day of 2019 Thanking you, we remain, Date Yours faithfully, Place (Signature) (Printed Name) (Designation) _ (Common Seal) _ Business Address: Name & Address of Authorized Signatory: X.Xx Pre-qualification Criteria Supporting Compliance documents 1 The Bids shall be submitted only by the bidder, no consortium is allowed in the bid A certified document by the Authorized Signatory 2 The bidder preferably be a CERT -In empanelled established Information Technology firm/ company/ management consulting firm registered under the Indian Companies Act, 1956 or a partnership firm registered under LLP Act, 2008 and in operation for at least 5 years as on 31.03.2019 and shall have their registered office in India. Valid documentary proof of Certificate of Inc orporation, Certificate of Commencement, Certificate consequent to change of name, if applicable. 3 The bidder should have at least one office in West Bengal or they should establish office in West Bengal within 30 days of placement of order. Address / Self Declaration.
CONTRACT PERFORMANCE GUARANTEE. 4.2.1. Within fifteen days (15) from date of LOA, the Contractor shall furnish Performance Guarantee to the Purchaser amounting to 10% of the accepted Tender Value in the form of Bank guarantee from nationalized bank. The (Xxxxxxx Money Deposit) EMD shall be returned on submission of the Performance Guarantee of success full bidders.
CONTRACT PERFORMANCE GUARANTEE. 17.1. The CONCESSIONAIRE shall provide, and shall maintain, throughout the entire term of the CONCESSION, in accordance with Article 56 of Federal Law no. 8.666/93, a CONTRACT PERFORMANCE GUARANTEE in favor of the STATE, to be provided as follows: Concession year Guarantee Value (R$) Year 1 to 5 R$ 207.583.250,00 R$ 67.272.050,00 R$ 65.805.175,00 R$ 402.196.150,00 Year 6 to 10 R$ 146.881.450,00 R$ 48.087.525,00 R$ 38.747.350,00 R$ 282.324.275,00 Year 11 to 15 R$ 67.983.200,00 R$ 22.275.400,00 R$ 18.154.700,00 R$ 131.793.650,00 Year 16 to 20 R$ 28.532.425,00 R$ 10.853.800,00 R$ 10.355.600,00 R$ 59.522.075,00 Year 21 to 25 R$ 18.966.100,00 R$ 7.730.600,00 R$ 6.760.825,00 R$ 41.372.200,00 Year 26 to 30 R$ 12.018.450,00 R$ 5.101.275,00 R$ 4.247.675,00 R$ 26.942.275,00 Year 31 to 35 R$ 207.583.250,00 R$ 67.272.050,00 R$ 65.805.175,00 R$ 402.196.150,00
17.2. The CONTRACT PERFORMANCE GUARANTEE shall be hired as condition precedent for the execution of the AGREEMENT, observing the model set out in ANNEX VIII - PROVISIONS FOR PERFORMANCE GUARANTEES.
17.3. The CONTRACT PERFORMANCE GUARANTEE shall have as beneficiary the STATE and shall remain in force for at least 180 (one hundred and eighty) days after the end of the AGREEMENT, through regular renewals .
17.4. The CONTRACT PERFORMANCE GUARANTEE provided may not contain any type of reservation or condition that may hinder or preclude its enforcement or that may leave doubts as to its consistency, and may be enforced by the STATE, in accordance with the conditions set forth in this AGREEMENT.
17.5. The CONTRACT PERFORMANCE GUARANTEE shall be annually readjusted by the Consumer Price Index - IPCA according to clause 28.1.
17.6. The CONTRACT PERFORMANCE GUARANTEE may be provided, at the discretion of the CONCESSIONAIRE, in any of the following manners, or in any combination thereof:
17.6.1. cash deposit in the currency of the country, which shall be made in an account to be appointed by the STATE;
17.6.2. collateral in government bonds, which shall be provided through securities issued in book-entry form, through registration in a centralized settlement and custody system authorized by the Central Bank of Brazil and assessed by their economic values, as established by the Ministry of Economy.
17.6.3. surety bond; or
17.6.4. bank guarantee.
17.7. The letters of guarantee and the surety policies must have a term of at least 12 (twelve) months, and the CONCESSIONAIRE fully liable maintaining them in full force and effect ...
CONTRACT PERFORMANCE GUARANTEE. 17.1. The CONCESSIONAIRE shall provide, and shall maintain, throughout the entire term of the CONCESSION, in accordance with Article 56 of Federal Law no. 8.666/93, a CONTRACT PERFORMANCE GUARANTEE in favor of the STATE, to be provided as follows: Concession Year Value of the Guarantee (R$) Years 11 to 00 000.000.000,00 00.000.000,00 00.000.000,00 000.000.000,00 Years 16 to 00 00.000.000,00 00.000.000,00 00.000.000,00 00.000.000,00 Years 21 to 00 00.000.000,00 0.000.000,00 0.000.000,00 00.000.000,00 Years 26 to 00 00.000.000,00 0.000.000,00 0.000.000,00 00.000.000,00 Years 31 to 00 000.000.000,00 00.000.000,00 00.000.000,00 000.000.000,00
17.2. The CONTRACT PERFORMANCE GUARANTEE shall be hired as condition precedent for the execution of the AGREEMENT, observing the model set out in ANNEX VIII - PROVISIONS FOR GUARANTIES.
17.3. The CONTRACT PERFORMANCE GUARANTEE shall have as beneficiary the STATE and shall remain in force for at least 180 (one hundred and eighty) days after the end of the AGREEMENT, through regular renewals.
17.4. The CONTRACT PERFORMANCE GUARANTEE provided may not contain any type of reservation or condition that may hinder or preclude its enforcement or that may leave doubts as to its consistency, and may be fully enforced by the STATE, in accordance with the conditions set forth in this AGREEMENT.
17.5. The CONTRACT PERFORMANCE GUARANTEE shall be annually readjusted by the Consumer Price Index - IPCA.
17.6. The CONTRACT PERFORMANCE GUARANTEE may be provided, at the discretion of the CONCESSIONAIRE, in any of the following manners, or in any combination thereof:
i. cash deposit in the currency of the country, which shall be made in an account to be appointed by the REGULATORY AGENCY or the STATE;
ii. collateral in government bonds, which shall be provided through securities issued in book-entry form, through registration in a centralized settlement and custody system authorized by the Central Bank of Brazil and assessed by their economic values, as established by the Ministry of Economy.
iii. surety bond; or
iv. bank guarantee.
17.7. The letters of guarantee and the surety policies must have a term of at least 12 (twelve) months, and the CONCESSIONAIRE fully liable maintaining them in full force and effect uninterruptedly throughout the term of the CONCESSION, carrying out, to this end, any necessary renewals and updates.
17.8. When the CONTRACT PERFORMANCE GUARANTEE is provided in government bonds, only Fixed-rate bond (LTN), Selic Floa...
CONTRACT PERFORMANCE GUARANTEE. 37.1 As a Contract Performance Security, the successful Bidder, to whom the work is awarded, shall be required to furnish a Performance Guarantee from (a) a Public Sector Bank or b) a Scheduled Indian Bank, in the form attached as Annexure-II to this Vol.I in favour of the owner. The guarantee amount shall be equivalent to 5% of contract price in Notice Inviting Tender and it shall guarantee the faithful performance of the Contract in accordance with the terms and conditions specified in these documents and specifications. The guarantee shall be valid up to 90 days after the end of Warranty Period.
37.2 As a Work Performance Security, the successful Bidder, to whom the work is awarded, shall be required to furnish a Performance Guarantee to the owner amounting to Five percent (5%) of the work order value.
a) The successful Bidder guarantees the successful and satisfactory operation of the equipment furnished and erected under the contract, as per the specifications and documents including the erection work.
b) The successful Bidder further guarantees that the equipment provided/ and erection work done and installed by him shall be free from all defects in design, material and workmanship and shall upon written notice from the owner fully remedy free of expenses to the owner such defects as developed under the normal use of the said equipment within the period of guarantee specified in the relevant clause of the General Terms and Conditions in this Vol.I/Special Conditions of Contract.
37.3 The Contract Performance Guarantee is intended to secure the performance of the entire Contract. However, it is not to be construed as limiting the damages under clause entitled ―Equipment and erection Performance Guarantee‖ in Technical Specifications, Vol.II and damages stipulated in other clauses in the Bid documents.
37.4 The Performance Guarantee will be returned to the Contractor without any interest at the end of guarantee period, unless otherwise specified in the Special Conditions of Contract. 1.0 Definition of Terms 2.0 Application 3.0 Standards
