Common use of For Bank Clause in Contracts

For Bank. (by its constituted attorney) (Signature of a person authorized to sign on behalf of "the Bank")* (On Non-Judicial stamp paper of appropriate value) To HPCL Rajasthan Refinery Ltd (HRRL) Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar. Jaipur - 302005 IN CONSIDERATION OF MESSERS. HPCL RAJASTHAN REFINERY LTD. (HRRL) a Joint Venture company of HPCL and Government of Rajasthan registered under the Companies Act, 1956, having its registered office at Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar Jaipur - 302005 (hereinafter called "The Corporation" which expression shall include its successor and assigns) having awarded to M/s a partnership firm/sole proprietor business/a company registered under the Companies Act, 1956 having its office at (hereinafter referred to as "the Supplier" which expression shall wherever the subject or context so permits includes its successors and assigns) a supply contract in terms inter alia, of "the Corporation's" Order No. dated and the General procurement conditions of "the Corporation" and upon the condition of "supplier's" furnishing security for the performance of "the Supplier's" obligations and/or discharge of "the supplier's" liability under and/or in connection with the said supply contract upto a sum of Rs. (Rupees ) amounting to % ( percent) of the total contract value. We, (hereinafter called "the Bank" which expression shall include its successors and assigns) hereby jointly and severally undertake and guarantee to pay to "the Corporation" in rupees forthwith on demand in writing and without protest or demur of any and all moneys anywise payable by "the Supplier" to "the Corporation" under, in respect of or in connection with the said supply contract inclusive of all the Corporation's losses and damage and costs, (inclusive between attorney and client) charges, and expenses and other moneys anywise payable in respect of the above as specified in any notice of demand made by "the Corporation" to the Bank with reference to this Guarantee upto and aggregate limit of Rs. (Rupees ) and "the Bank" hereby agrees with "the Corporation" that:

For Bank. (by its constituted attorney) (Signature of a person authorized to sign on behalf of "the Bank")* (On Non-Judicial stamp paper of appropriate value) To HPCL Rajasthan Refinery Ltd (HRRL) Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar. Jaipur - 302005 IN CONSIDERATION OF MESSERS. HPCL RAJASTHAN REFINERY LTD. (HRRL) a Joint Venture company of HPCL and Government of Rajasthan registered under the Companies Act, 1956, having its registered office at Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar Jaipur - 302005 (hereinafter called "The Corporation" which expression shall include its successor and assigns) having awarded to M/s a partnership firm/sole proprietor business/a company registered under the Companies Act, 1956 having its office at (hereinafter referred to as "the Supplier" which expression shall wherever the subject or context so permits includes its successors and assigns) a supply contract in terms inter alia, of "the Corporation's" Order No. dated and the General procurement conditions of "the Corporation" and upon the condition of "supplier's" furnishing security for the performance of "the Supplier's" obligations and/or discharge of "the supplier's" liability under and/or in connection with the said supply contract upto a sum of Rs. (Rupees ) amounting to % ( percent) of the total contract value. We, (hereinafter called "the Bank" which expression shall include its successors and assigns) hereby jointly and severally undertake and guarantee to pay to "the Corporation" in rupees forthwith on demand in writing and without protest or demur of any and all moneys anywise payable by "the Supplier" to "the Corporation" under, in respect of or in connection with the said supply contract inclusive of all the Corporation's losses and damage and costs, (inclusive between attorney and client) charges, and expenses and other moneys anywise payable in respect of the above as specified in any notice of demand made by "the Corporation" to the Bank with reference to this Guarantee upto and aggregate limit of Rs. (Rupees ) and "the Bank" hereby agrees with "the Corporation" that: 1. This Guarantee/Undertaking shall be a continuing Guarantee /Undertaking and shall remain valid and irrevokable for all claims of "the Corporation" and liabilities of "the Supplier" arising upto and until midnight of 2. This Guarantee/Undertaking shall be in addition to any other guarantee or security whatsoever that "the Corporation" may now or any time anywise have in relation to "the Supplier's obligation/liabilities under and/or connection with the said supply contract, and "the Corporation" shall have full authority to take recourse to or enforce this security in preference to the other security(ies) at its sole discretion and no failure on the part of "the Corporation" to enforcing or requiring enforcement to any other security shall have the effect of releasing "the Bank" from its full liability hereunder.

For Bank. (by its constituted attorney) (Signature of a person authorized authorised to sign on behalf of "the Bank")* ) (On Non-Judicial stamp paper of appropriate value) To HPCL Rajasthan Refinery Ltd (HRRL) Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar. , Jaipur - – 302005 IN CONSIDERATION OF MESSERSMESSRS. HPCL RAJASTHAN REFINERY LTD. (HRRL) a Joint Venture company of HPCL and Government of Rajasthan registered under the Companies Act, 1956, having its registered office at Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar Jaipur - 302005 (hereinafter called "The Corporation" (which expression shall include its successor in business and assigns) having awarded to M/s placed an order on Messers ............................ a partnership firm/sole proprietor business/a company registered under the Companies Act, 1956 having its office at (hereinafter referred to as called "the Suppliersupplier") (which expression shall include executors, administrators and assigns) vide order No....................... dated.............. (hereinafter called "the order" which expression shall wherever include any amendments/alterations to "the subject or context so permits includes its successors and assigns) a supply contract in terms inter alia, of order" issued by "the Corporation's" Order No. dated and ") for the General procurement conditions supply of goods to/execution of services for "the Corporation" and "the Corporation" having agreed: a) not to insist upon immediate payment of Security Deposit for the condition fulfilment and performance of the said order b) that "the supplier's" furnishing shall furnish a security for the performance of "the Suppliersupplier's" obligations and/or discharge of "the supplier's" liability under and/or in connection with the said supply contract upto a sum of Rs. (Rupees ) amounting "order"; and "the Corporation" having agreed with "the supplier" to % ( percent) of accept Bank Guarantee for the total contract valuesecurity deposit. 1. We, .............................................Bank having office at............................................ (hereinafter called referred to as "the Bank" which expression shall include includes its successors and assigns) at the request and on behalf of "the supplier" hereby jointly and severally undertake and guarantee agree to pay to "the Corporation" without any demur on first demand an amount not exceeding Rs (Rupees ................................... only) against any loss or damage, costs, charges and expenses caused to or suffered by "the Corporation" by reason of non performance and fulfilment or for any breach on the part of "the supplier" of any of the terms and conditions of the said "order". 2. We, ............................. Bank further agree that “the Corporation" shall be sole judge whether the said "Supplier" has failed to perform or fulfill the said "order" in rupees forthwith terms thereof or committed breach of any terms and conditions of "the order" and the extent of loss, damage, cost, charges and expenses suffered or incurred or would be suffered or incurred by "the Corporation" on account thereof and we waive in the favour of "the Corporation" all the rights and defenses to which we as guarantors and/or "the Supplier" may be entitled to. 3. We, Xxxx further agree that the amount demanded by "the Corporation" as such shall be final and binding on "the Bank" as to "the Bank's” liability to pay and the amount demanded and "the Bank" undertake to pay "the Corporation" the amount so demanded on first demand in writing and without protest or any demur of notwithstanding any and all moneys anywise payable dispute raised by "the Supplier" to or any suit or other legal proceedings including arbitration or conciliation pending before any court, tribunal or arbitrator or conciliator(s) relating thereto, our liability under this guarantee being absolute and unconditional. 4. We, .................................. Bank further agree with "the Corporation" under, that "the Corporation" shall have the fullest liberty without our consent and without affecting in respect any manner our obligations hereunder to vary any of or in connection with the terms and conditions of the said supply contract inclusive "order"/or to extend time of all performance by "the Supplier" from time to time or to postpone for any time to time any of the powers exercisable by "the Corporation's losses " against "the Supplier" and damage and costs, (inclusive between attorney and client) charges, and expenses and other moneys anywise payable in respect to forbear to enforce any of the above as specified in terms and conditions relating to "the order" and we shall not be relieved from our liability by reason of any notice such variation or extension being granted to "the Supplier" or for any forbearance, act or omission on the part of demand made "the Corporation" or any indulgence by "the Corporation" to the Bank with reference to this Guarantee upto and aggregate limit of Rs. (Rupees ) and "the BankSupplier" hereby agrees with or by any such matter or things whatsoever which under the law relating to sureties would but for this provision have the effect of relieving us. 5. However, it has been agreed between "the Supplier" and "the Corporation" thatBank Guarantee for security deposit is Valid upto a period of 3 (Three) months beyond the expiry of the defects liability period as per the terms of the Order No. dated…….. 6. Not withstanding anything contained herein above: i. Our liability under this guarantee shall not exceed Rs. .. ii. This Bank Guarantee shall be valid upto and including ; and iii. We are liable to pay the guarantee amount or any part thereof under this Bank Guarantee only and only if you serve upon us a written claim or demand on or # before the expiry of 30 days from the date of expiry of this guarantee. 7. We, .....................................

For Bank. (by its constituted attorneyattorney or the person authorized to sign) (Signature of a person authorized to sign on behalf of "the Bank")* ) Annexure-P PROFORMA BANK GUARANTEE FOR PERFORMANCE SECURITY (ILLUSTRATIVE FORMAT) (On Non-Judicial stamp paper of appropriate valuevalue Rs. 500/-. However, the value of stamp paper to be confirmed from Legal Department, MDL.) To HPCL Rajasthan Refinery Ltd (HRRL) Tel Bhavan, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar. Jaipur - 302005 IN CONSIDERATION OF MESSERS. HPCL RAJASTHAN REFINERY LTD. (HRRL) MAZAGON DOCK SHIPBUILDERS LIMTED, a Joint Venture company of HPCL and Government of Rajasthan registered incorporated under the Companies Act, 1956, Act 1956 and having its registered office at Tel BhavanDockyard Road, Xxxxxx Xxxx, Lal Kothi Vistar, Jyoti Nagar Jaipur - 302005 Mumbai 400010 (hereinafter called "The Corporation" referred to as the “the Purchaser” which expression shall shall, unless it be repugnant or contrary to the subject or context thereof, be deemed to mean and include its successor successors and assigns) having awarded to M/s placed an order on Xxxxxx’x a partnership firm/sole proprietor business/a company registered under the Companies Act, 1956 having its office at (hereinafter referred to as "called " the Contractor/ Supplier" which expression shall wherever shall, unless it be repugnant or contrary to the subject or context so permits includes thereof, be deemed to mean and include its successors and assigns) a supply contract in terms inter alia, of "the Corporation's" Order vide order No. ....................... dated and the General procurement conditions of "the Corporation" and upon the condition of "supplier's" furnishing security for the performance of "the Supplier's" obligations and/or discharge of "the supplier's" liability under and/or in connection with the said supply contract upto a sum of Rs. (Rupees ) amounting to % ( percent) of the total contract value. We, (hereinafter called "the order" which expression shall include any amendments/alterations to "the order" issued by "the Purchaser") for the supply, delivery at site, installation and commissioning of certain equipment, item/services/civil works etc. as stated in the said Order and the Purchaser having agreed with the Contractor/Supplier to accept a Bank Guarantee In lieu of Performance Security payable under the said order for the fulfilment and performance of the said order, We, Bank having office at (hereinafter referred to as "the Bank" which expression shall include its successors and assigns) hereby jointly and severally undertake and guarantee agree to pay to "the Corporation" in rupees forthwith Purchaser without any demur on first demand in writing and without protest or demur of any and all moneys anywise payable by "the Supplier" to "the Corporation" under, in respect of or in connection with the said supply contract inclusive of all the Corporation's losses and damage and costs, (inclusive between attorney and client) charges, and expenses and other moneys anywise payable in respect of the above as specified in any notice of demand made by "the Corporation" to the Bank with reference to this Guarantee upto and aggregate limit of an amount not exceeding Rs. (Rupees ) and "the Bank" hereby agrees with "the Corporation" that:....