Performance Bank Guarantee. 4.1 The Consultant within15 days from the date of receipt of Letter of Award from PFCCL shall furnish a Performance Guarantee in the form of Bank Guarantee as per Performa attached as Appendix-G, from any Nationalised / Scheduled Bank towards performance of the Contract. The guarantee amount shall be equal to ten percent (10%) of the contract price in accordance with the terms and conditions specified in the contract and in the Bid Documents. The guarantee shall be valid until after expiry of a period nine (9) months from the scheduled date. 4.2 The Contract Performance Guarantee is intended to secure the performance of the entire contract and shall not be construed as limiting the damages stipulated in other clauses in the Bid Documents. 4.3 The Performance Guarantee will be returned to the Contractor without any interest at the end of the Guarantee Period.
Appears in 7 contracts
Samples: Consultancy Services Agreement, Consultancy Services Agreement, Consultancy Services Agreement
