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. 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(s) or the Scheduled Delivery Date specified in this Agreement, subject to conditions mentioned in Article 4.7.1, …… [Insert “the Procurer” or “the Procurer(s) jointly”] 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(s) 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. 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 shall 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 a t least 5 years as on 31.03.2019 and shall have their registered office in India. Valid documentary proof of Certificate of Incorporation, Certificate of Commencement, Certificate cons equent 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. 3.1 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:
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.
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. In the event of any increase in the Notified Price, the Purchaser may:
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. 12.1 If Party C is unable to commercialize the manufactured products manufactured by use of the Technology within the fixed deadline as set forth in Article 3.2 hereof, Party C will provide written notice to Party A and Party B and the Parties shall meet and establish a revised Development Plan in accordance with Section 3.2 hereof.
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. We further agree that if our Bid is accepted we shall provide an irrevocable Bank guarantee towards Contract Performance Guarantee, of value equivalent to ten percent (10%) of the Contract Price initially/ (5% of total contract value for local MSEs ) valid up to the end of ninety (90) days after the end of the contract warranty period in the form of Bank Guarantee in your favour within 15 (fifteen) days from the date of “Notice of Award of Contract” and enter into a formal agreement with you immediately thereafter. Dated this ………………………..day of ………………………………20….. Thanking you, Yours faithfully, …………………………….. Seal of the company……….. Date : …………………………. Place : (Written power of Attorney of all signatories of the bid to commit the Bidder must be enclosed with the Bid. In case of joint venture, the written Power of Attorney of all signatories from respective partners must be enclosed with the Bid. . *** Applicable case of a Bid from Joint Venture of Firms. Further, the Bid must be signed by each partner of the Joint venture.
CONTRACT PERFORMANCE GUARANTEE. 13.1 Party C guarantees to Party A the performance of the obligations undertaken by Party C under this Agreement and will provide to Party A cash, or bank guarantee as contract performance guarantee at the time of contract signature. This contract performance guarantee shall be made in the amount of 300,000 NT Dollars.
13.2 The contract performance guarantee may be returned to Party C upon request by Party C to Party A in conjunction with adequate proof of the commercialization of manufactured products by use of the Technology.
13.3 If Party C fails to commercialize the manufactured products manufactured by use of the Technology within the fixed deadline, Party C will provide written notice to Party A and Party B to request extension of the commercialization deadline or early termination of this Agreement. Failure to do so will result in termination of this Agreement by Party A and Party B and forfeiture of the contract performance guarantee.
13.4 If Party C fails to commercialize manufacture products by use of the Technology at the end of the Validity Period, Party A has discretion to conduct a review meeting to determine on an individual basis whether the contract performance guarantee shall be returned to Party C.