Contract Performance Bank Guarantee definition

Contract Performance Bank Guarantee means the unconditional and irrevocable bank guarantee to be submitted by the Successful Bidder in terms of Clause 32.1 of this ITB, as per the forms prescribed in the Contract;
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Contract Performance Bank Guarantee. / “Security Deposit” means contract performance bank guarantee or security deposit (as applicable) as submitted by the Contractor in accordance with Clause 7.2(a) or 7.2(c), and shall also include any extended and any amended bank guarantee in respect of EMD, where the Contractor exercises its option under Clause 7.2 (b).
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Contract Performance Bank Guarantee means the guarantee to be furnished by the Bidder who is selected based on the Bidding process in accordance with the clause 9.15.1.31 “Project” shall mean obtaining of all pre-development clearances, planning, engineering, financing, construction; operation maintenance and supply of coal from Radhikapur West Coal Mine and post completion of detailed exploration of the Radhikapur West coal block and shall include all such works and services as detailed in the Bid Document.1.32 “Project Company” shall mean Special Purpose Vehicle (SPV) that may be incorporated under the laws of India by the Bidder, if such Bidder is the Selected Bidder to execute the Project.1.33 “Qualifying Proposal Requirements” shall mean the requirements set forth in this document for the purpose of evaluation.1.34 "Selected Bidder" shall mean the Bidder that offers the most competitive offer, in terms of Coal Mining Fee and satisfies all requirements mentioned and specified in this Bid document.1.35 “Specified Employees” shall mean Employees provided by the Principal / owner which are either Statutory staff as per Mines Act 1952 of which the Owner deems necessary from the point of view of ensuring compliance or safeguarding Company’s interest as owner of the Mine.1.36 "Stripping Ratio" shall mean the ratio in which quantities of Overburden and of coal shall be excavated by the Selected Bidder in accordance with the terms of the Coal Mining Services Agreement DEVELOPMENT AND OPERATION OF RADHIKAPUR WEST COAL BLOCK, ODISHA
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Examples of Contract Performance Bank Guarantee in a sentence

  • We further agree that if our proposal is accepted, we shall provide a Contract Performance Bank Guarantee in the form and value, as applicable and as stipulated in Bid document in the form of Bank Guarantee / Demand Draft in your favour within stipulated time as mentioned in bid from the date of placement of Letter of Award and undertake to enhance/extend the same, as required, as to be informed time to time.

  • Penalty amount can be realized from the proceeds of the Contract Performance Bank Guarantee, if the situation so warrants.

  • The Contractor will submit the Contract Performance Bank Guarantee as per LOA before signing the contract agreement.

  • If the work completion period gets extended the Contract Performance Bank Guarantee shall be extended accordingly.

  • However, due to any circumstances on the part of the contractor if they fail to submit the acceptable Contract Performance Bank Guarantee (CPBG) within 30 days from the date of LOA, the contractor can request for submission of the same beyond the above period.

  • Submission and approval of additional Contract Performance Bank Guarantee for the Major Equipment (Power Transformers, Switch Gears, S/S Automation Equipment and Cables).viii.

  • Submission and approval of amended Contract Performance Bank Guarantee for the extended work completion period, if any.vii.

  • Bid Security (Earnest Money) in respect of the finally selected Bidder will be discharged upon the Bidder signing the Contract and furnishing the Contract Performance Bank Guarantee.

  • The successful Bidder, to whom Letter of Award is issued shall be required to furnish a Contract Performance Bank Guarantee (from list of Banks mentioned in the annexure to this document) in non-judicial stamp paper of appropriate value (as per the prescribed format)issued in favour of “ Odisha Power Transmission Corporation Ltd” en-cashable at Bhubaneswar Branch of the Issuing Bank only within 30 (Thirty) days from the date LOA.

  • Further, GAIL would forfeit the security deposits/ Contract Performance Bank Guarantee.


More Definitions of Contract Performance Bank Guarantee

Contract Performance Bank Guarantee means a duly executed, irrevocable, unconditional on demand bank guarantee that is to be procured and maintained by the Contractor in accordance with Clause 9.4.2, to secure the due and proper performance of the Contract.
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Related to Contract Performance Bank Guarantee

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • Performance Bank Guarantee/ Security Deposit means interest free amount to be deposited by the Contractor with NMRC as per terms and conditions of Contract Agreement as a security against the performance of the Contract agreement

  • Performance Letter of Credit means any Letter of Credit of the Borrower or a Guarantor that is issued for the benefit of a municipality, other governmental authority, utility, water or sewer authority, or other similar entity for the purpose of assuring such beneficiary of the Letter of Credit of the proper and timely completion of construction work.

  • Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • Guaranteed energy savings contract means a contract that includes all of the following:

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Specific contract participation goals means the goals as stipulated in the Preferential Procurement Regulations, 2001. In addition to above-mentioned goals, the Regulations [12. (1)] also make provision for organs of State to give particular consideration to procuring locally manufactured products.

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Interest Free Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with NMRC as per terms and conditions of License Agreement as a security against the performance of the License Agreement.

  • Capacity Performance Resource means a Capacity Resource as described in Tariff, Attachment DD, section 5.5A(a).

  • Facility Letter of Credit means a Letter of Credit issued by the Issuer pursuant to Section 2.2.

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Guaranteed Pension Plan means any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Individual contract plan means a subcontracting plan that covers the entire contract period (including option periods), applies to a specific contract, and has goals that are based on the offeror’s planned subcontracting in support of the specific contract, except that indirect costs incurred for common or joint purposes may be allocated on a prorated basis to the contract.

  • Service Level Credit is defined in Section 8.

  • Deactivation Avoidable Cost Credit means the credit paid to Generation Owners pursuant to Tariff, Part V, section 114. Deactivation Avoidable Cost Rate:

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Facility Letter means the facility letter and the other letters of offer or other letters which may from time to time be issued by the Bank to the Borrower in relation to the Facilities.

  • guarantee contract means a contract entered into by a person as guarantor;

  • credit meter means a meter where an account is issued subsequent to the consumption of electricity;

  • Service Credit means the periods of time for which the required contributions have been made to

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Index Performance means, in relation to an Index and an Auto-Call Valuation Date or the Valuation Date, as the case may be, a percentage calculated by the Calculation Agent in respect of such date in accordance with the following formula: Index Performance =Final Index Level × 100% Initial Index Level