Performances Guarantee. The Performance Guarantee will be 5% of the total value of contract amount. The performance Guarantee shall be deposited in the shape of Deposit at Call (CDR) / irrevocable Bank Guarantee from any scheduled bank. In case of the breach of the contract, the security will be forfeited. The Performance guarantee will be retained till the completion of contract period. The successful bidder is bound to provide the defined performance guarantee within 07 days. However case of failure the procuring agency on valid reasons may extend period for a specified period of time. Failure to provide a performance guarantee by the bidder will be sufficient ground for annulment of the award and initiation of legal action / debarring of firm by the procuring agency. In such event the procuring agency may award contract to the next lowest evaluated bidder or call for new bid. In case of the breach of the contract the performance guarantee / security will be forfeited.

Performances Guarantee. The Performance Guarantee will be 5% of the total value of contract amount. The performance Guarantee shall be deposited in the shape of Deposit at Call (CDR) / irrevocable Bank Guaranteefrom any scheduled bank. In case of the breach of the contract, the security will be forfeited. The Performance guarantee will be retained till the completion of contract period.The successful bidder is bound to provide the defined performance guarantee within 07 days. However case of failure the procuring agency on valid reasons may extend period for a specified period of time. Failure to provide a performance guarantee by the bidder will be sufficient ground for annulment of the award and initiation of legal action / debarring of firm by the procuring agency. In such event the procuring agency may award contract to the next lowest evaluated bidder or call for new bid. In case of the breach of the contract the performance guarantee / security will be forfeited. 10. Rejection of Bids (as prescribed in Rule 35 of Punjab Procurement Rules-2014, amended in 2016).

Performances Guarantee. The Performance Guarantee will be 5% of the contract amount. The performance Guarantee shall be deposited in the shape of Deposit at Call (CDR) from any scheduled bank. In case of the breach of the contract the security will be forfeited. The Performance guarantee will be retained till the completion of contract period.

Performances Guarantee. The Performance Guarantee will be @ 5% of the contract amount. The performance Guarantee shall be deposited in the shape of Deposit at Call from any scheduled bank. In case of the breach of the contract the security will be forfeited. The Performance guarantee will be retained till the completion of contract period.

Related to Performances Guarantee

Guarantee The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Issuer), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer may have or assert. The Guarantor's obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Issuer to pay such amounts to the Holders.

Performances Guarantee Sample Clauses