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 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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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.

  • SDBG & PBG: Security Deposit / Contract Performance Bank Guarantee of 5% & Performance Bank Guarantee of 10% of PO value are applicable for this tender.

  • Bidder will have to complete the same as per mutually agreed schedule. Business Associate (BA) shall submit applicable Contract Performance Bank Guarantee as per Terms & Conditions / GCC within 30 days of issuance of rate contract.

  • Security Deposit / Contract Performance Bank Guarantee of 5% & Performance Bank Guarantee of 10% of PO value are applicable for this tender.

  • Penalty/ LD if any, shall be deducted from the payments due under the Contract or by invoking the Contract Performance Bank Guarantee and/or otherwise.

  • Within 7 days of the receipt of notification of award of contract from RGUKT - AP, the successful Agency shall furnish the performance guarantee in accordance with the conditions of Contract in the Contract Performance Bank Guarantee to the Registrar (i/c), RGUKT -AP which shall be 10% of the Annual of contract value valid for the entire contract period, in the form of bank guarantee from a Nationalized / Scheduled Bank.

  • In all over 70 people were interviewed, including 8 from outside of Regina.

  • Notwithstanding the provisions specified in ITB, if a bidder after having been issued the Letter of Award, either does not sign the Contract Agreement pursuant to ITB or does not submit acceptable Contract Performance Bank Guarantee or does not execute this contract, such bidder may be considered ineligible for participating in future tender of OPTCL for a period as may be decided by OPTCL.

  • This will be released after the successful completion of warranty period.2.4 In the event of delay in acceptance of the goods, the Supplier shall, at the request of the Purchaser, extend the validity of the Contract Performance Bank Guarantee so as to cover the warranty period.2.5 Thereafter, the supplier shall furnish an AMC Performance Bank Guarantee equivalent to five percent (05%) of the contract price from a commercial bank within the validity period of the Contract Performance Security.

  • The Contract Performance Bank Guarantee shall be from a nationalized bank acceptable to the Company.


More Definitions of Contract Performance Bank Guarantee

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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Related to Contract Performance Bank Guarantee

  • 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;

  • 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.

  • Worst Performance (final means the Performance of the Basket Componentj (final) specified as follows:Performance of the Basket Componentj (final) = mini= 1, ..., N [Ki (final) / Ki (initial)]

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

  • 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