Common use of Indigenous cases Clause in Contracts

Indigenous cases. The Bidder will be required to furnish a Performance Guarantee by way of Bank Guarantee through a public sector bank or a private sector bank authorized to conduct government for a sum equal to 3% of the contract value within 30 days of signing of this contract if value of contract is equal and above 02 lakhs (two lakhs). Performance Bank Guarantee will be valid up to 60 days beyond the date of warranty. The specimen of PBG is given in Form DPM-15 (Available in MoD website and can be provided on request).

Indigenous cases. The Bidder will be required to furnish a Performance Guarantee by way of Bank Guarantee through a public sector bank or a private sector bank authorized to conduct government for a sum equal to 3% of the contract value within 30 days of signing of this contract if value of contract is equal and above 02 lakhs lakh (two lakhslakh). Performance Bank Guarantee will be valid up to 60 days beyond the date of warranty. The specimen of PBG is given in Form DPM-15 (Available in MoD website and can be provided on request).