Performance Bank Guarantee (PBG). 2.5.1. The Performance Bank Guarantee furnished under this Agreement shall be for guaranteeing the successful commissioning of the Project for power up to the Contracted Capacity within the time specified in this Agreement.
2.5.2. The failure on the part of the SPG to furnish and maintain the Performance Bank Guarantee shall be a material breach of the term of this Agreement on the part of the SPG.
2.5.3. The PBG shall be initially valid from the date of issue until 2 months (i.e. sixty (60) days) beyond the 9 months from the date of signing of Power Purchase Agreement (PPA).
2.5.4. The PBG will be returned to the SPG after successful commissioning of Solar power plant, after taking into account any penalties due to delay in commissioning as per terms and conditions of RfS.
2.5.5. CFA up to 100% of the total eligible CFA will be released to the RESCO developer through DISCOM on successful operation and performance of solar plant for two months after the commissioning with at least one month CUF as per minimum CUF agreed in PPA, as per MNRE’s sanction for the CFA, subject to release of the same by MNRE-GoI
2.5.6. On
Performance Bank Guarantee (PBG). 2.5.1. The Performance Bank Guarantee furnished under this Agreement shall be for guaranteeing the successful commissioning of the Project for power up to the Contracted Capacity within the time specified in this Agreement.
2.5.2. The failure on the part of the SPG to furnish and maintain the Performance Bank Guarantee shall be a material breach of the term of this Agreement on the part of the SPG.
2.5.3. The PBG shall be initially valid from the date of issue until 2 months (i.e. sixty (60) days) beyond the 9 months from the date of signing of Power Purchase Agreement (PPA).
2.5.4. The PBG will be returned to the SPG after successful commissioning of Solar power plant, after taking into account any penalties due to delay in commissioning as per terms and conditions of RfS.
2.5.5. The Performance Bank Guarantee shall be distinct from and in addition to the Bank Guarantee equivalent to Central Financial Assistance(CFA) to be submitted by SPG.
2.5.6. On declaration of commercial operation date (COD), the successful bidder shall have to submit Bank Guarantee equivalent to CFA amount. Bank Guarantee shall be in favor of PGVCL and to be submitted at the office of Chief Engineer (Project), PGVCL, _ _ _ _ _ _ _ _ within 15 days of COD. The release of CFA to RESCO developer is subject to submission of bank guarantee equivalent to CFA amount. Bank Guarantee will be released in four lots of 25% each on successful operation of plant after 2.5 years, 5 years, 7.5 years and 10 years from CoD.
Performance Bank Guarantee (PBG). On award of contract, the successful tenderer shall furnish an amount equal to 10% (ten percent) of the contract value in the form of a Performance Bank Guarantee from any scheduled Bank in the form prescribed by the Bank(which will be submitted along with letter of acceptance) towards security deposit for the due fulfillment of the contract. The xxxxxxx money deposit furnished at the time of submission of tender will be returned thereafter. This Bank Guarantee towards security deposit shall be valid for the entire contract period. All compensation or other sums of money payable by the Contractor to the Employer under the terms of this Contract may be deducted from the security deposit, if the amount so permits unless the contractor deposits such amounts in cash within ten days of issue of demand notice by the Bank. I/We hereby declare that I/We have read and understood all the above instructions/conditions and the same will remain binding upon me/us in case the above mentioned Annual Cleaning Contract is entrusted to me/us. I/we also note that this letter will form part of the contract document and that the contents of this letter shall be supplemental to the conditions in the tender and not in derogation thereof except to the extent specifically provided herein. Place: (Signature of the bidder with stamp) Date : Name
1. First-aid appliances, including adequate supply of sterilized dressings and cotton wool, shall be maintained in a readily accessible place.
2. The injured person shall be taken to a public hospital without loss of time, in cases where the injury necessitates hospitalization.
3. Suitable and strong scaffolds should be provided for workmen for all works that can not safely be done from ground.
4. No portable single ladder shall be over 8 meters in length, the width between the side rails not less than 30 cm (clear) and the distance between two adjacent rungs shall not be more than 30 cm. When a ladder is used, an extra mazdoor shall be engaged for holding the ladder.
5. The excavated material shall not be placed within 1.5 meters of the edge of the trench or half of the depth of the trench, whichever is more. All trenches and excavations shall be provided with necessary minimum height shall be one metre.
6. Every opening in the floor of a building or a working platform shall be provided with suitable means to prevent the fall of persons or materials by providing suitable fencing or railing whose minimum height shall be one metre.
7. No floo...
Performance Bank Guarantee (PBG). (a) The lessee shall, for due and punctual performance of its obligations hereunder relating to the Project, deliver to EDMC, simultaneously with the execution of this Agreement, a bank guarantee from a scheduled bank, (“Performance Security”) for a sum equal to six months royalty quoted by the successful bidder.
(b) The PBG shall be kept valid throughout the term of the agreement and also during the Post Lease Rectification Period. The renewal/extension of the PBG as and when required is to be done by the lessee at least one month before the date of expiry; of the existing PBG, failing which, EDMC would be entitled to revoke the PBG. In the event of encashment of the PBG by the EDMC, in full or part, the Lessee shall within 30 (thirty) days of receipt of the encashment notice from the EDMC provide a fresh PBG or replenish the existing PBG, as the case may be. The provisions of this clause 5.1 shall apply mutatis mutandis to such fresh PBG. The Lessee’s failure to comply with this provision shall constitute a Lessee Event of Default which shall entitle the EDMC to terminate this Agreement in accordance with the provisions of Clause 9.1 hereof. Provided that if the Agreement is terminated due to any event other than a lessee Event of Default, the PBG if subsisting as on the termination Date shall, subject to EDMC’s right to receive amounts at prevailing time if any, due from the lessee under this Agreement, be duly discharged and released to the lessee within 60 days from the termination date.
Performance Bank Guarantee (PBG). 19.1 The work should be guaranteed for the period of 12 months Post inspection clearance on board each yard.
19.2 The successful bidder has to submit Performance Bank Guarantee for 10 % value of each invoice, excluding Taxes, Duties, etc. (or alternatively 10% amount of each invoice may be retained as mentioned in clause 15.1) towards guarantee requirement as per clause 18. The PBG shall be valid for a period of 12 months plus one-month claim period post inspection clearance on board each yard.
19.3 PBG should be submitted in the form of Bank Guarantee drawn in favor of MAZAGON DOCKSHIPBUILDERS LIMITED from the list of banks approved by SBI/ Canara bank published on MDL website. The BG should be valid up to four weeks beyond the end of 12 months the contractual / completion / Order validity period. Bidders to advise their bank/banker to send PBG directly to Outsourcing Department to dispense with additional step of verification of authenticity of signatories. No change/modification in the text of the prescribed format of the BG is permissible. Format of Bank Guarantee for PBG is available on MDL Website.
19.4 PBGs will be returned to the Contractor on completion of 12 months after successful execution of work applicable to this tender.
Performance Bank Guarantee (PBG). (a) The Concessionaire shall, for due and punctual performance of its obligations hereunder relating to the SLF, deliver to MCS, simultaneously with the execution of this Agreement, a bank guarantee from a scheduled bank in the form as set out in Schedule 7, (“Performance Security”) for a sum of Rs.
Performance Bank Guarantee (PBG). (a) The Successful bidder shall submit PBG of value equivalent to value 3% of the of the completed work and validity covering the guarantee period of the completed work against invoice in lieu of 3% payment retention valid for 12 months +one-month claim period on completion of the contract in the payment terms to avail 100% payment or to release the 3% retained payment against respective invoice.
(b) Performance Bank Guarantee shall be (as per Format OTS-F-09) drawn in favor of MAZAGON DOCK SHIPBUILDERS LIMITED and valid guarantee period plus one-month claim period. Bank Guarantee should be drawn on reputed Nationalized / Scheduled Banks excluding co-operative banks and shall be Payable at Mumbai. On satisfactory completion of performance Guarantee obligation, the PBG will be returned without interest. Bidders should advise their bank/banker to send the BG directly to OTS department in sealed envelope to dispense with additional step of verification of authenticity of signatories.
Performance Bank Guarantee (PBG). 11.1 Bidders selected by P&ED based on this RfS shall submit Performance Bank Guarantee for a value @ INR 7.50 lakh/ MW within 30 days of issuance of Letter of Intent (LoI) or before signing of PPA, whichever is earlier. It may be noted that successful Bidders shall submit the Performance Bank Guarantee according to the Format 7.3 B for a value @ INR 7.50 lakh/ MW with a validity period from the date of submission of the PBG until 21 months from the Effective Date of the PPA. On receipt and after successful verification of the total Performance Bank Guarantee in the acceptable form, the BG submitted towards EMD shall be returned by P&ED to the successful Bidder. Non submission of PBG within the above timelines shall be treated as follows:
a. Delay upto 1 month from due date of submission of PBG: Delay charges @1% of the PBG amount per month levied on per day basis shall be paid by the Bidder to P&ED in addition to the PBG amount.
x. Xxxxx beyond 1 month from the due date of submission of PBG: The BG against EMD submitted by the Bidder shall be encashed by P&ED and the Project shall stand terminated.
11.2 The SPD shall furnish the PBG from any of the Banks listed at Schedule-2 of draft PPA to P&ED. PBG issued by foreign branch of a bank from bank list given in Schedule-2 of draft PPA is to be endorsed by the Indian branch of the same bank or State Bank of India (SBI).
11.3 The format of the Bank Guarantees prescribed in the Formats 7.3 A (EMD) and 7.3 B (PBG) shall be strictly adhered to and any deviation from the above Formats shall result in rejection of the EMD/ PBG and consequently, the bid. In case of deviations in the formats of the Bank Guarantees, the corresponding PPA shall not be signed.
11.4 The successful Bidder for the Project selected based on this RfS is required to sign PPA with P&ED within 30days after the issue of LoI. In case, P&ED offers to execute the PPA with the Selected Bidder and if the Selected Bidder does not submit the requisite documents as per Clause No. 14, Section-II, Instructions to Bidders (ITB) or does not meet eligibility criteria upon submission of documents or does not execute the PPA within the stipulated time period, then the Bank Guarantee equivalent to the amount of the EMD shall be encahsed by P&ED from the Bank Guarantee available with P&ED (i.e. EMD or PBG) as liquidated damages not amounting to penalty, the selected Projectshall stand cancelled and the selected Bidder expressly waives off its rights and objectio...
Performance Bank Guarantee (PBG). 19.1 Contractor shall stand guarantee to the work for a period of 6 months from the date of installation of outfitting items as mentioned in the scope of work.
19.2 The successful bidder has to submit Performance Bank Guarantee for 10 % value of each invoice, excluding Taxes, Duties, etc. (or alternatively 10% amount of each invoice may be retained as mentioned in clause 15.1) towards guarantee requirement as per
Performance Bank Guarantee (PBG). 19.1. The successful bidder has to submit Performance Bank Guarantee for 3% value of each invoice, excluding Taxes, Duties, etc. (or alternatively 3% amount of each invoice may be retained as mentioned in clause 15.1) towards guarantee requirement as per clause 18. The PBG shall be valid for a period of 12 months plus one-month claim period from the date of completion of work as per WDC. PBG should be submitted from the list of banks approved by SBI/ Canara bank published on MDL website. Bidders to advise their bank/banker to send PBG directly to commercial department to dispense with additional step of verification of authenticity of signatories. No change/modification in the text of the prescribed format of the BG is permissible
19.2. In the event of defects due to poor workmanship leading to non-performance of the Equipment/Item and bidder’s failure to attend the defects within a reasonable period of time, the Bank guarantee will be enchased by MDL. MDL’s decision in this regard shall be final and binding on the bidder.
