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(a) have withdrawn or modified our Tender during the period of tender
validity specified in the Form of Tender;
(c) having been notified of the acceptance of our Tender by the Procuring
Entity during the period of tender validity, (i) failure to sign the
contract if required by Procuring Entity to do so or (ii) fail or refuse to
furnish the Performance Security or to comply with any other
condition precedent to signing the contract specified in the tendering
documents.
Signed: [insert signature of person whose name and capacity are shown]
In the capacity of [insert legal capacity of person signing the Tender Securing
Declaration]
Duly authorized to sign the tender for and on behalf of: [insert complete name
of Tenderer]
[The bank/successful tenderer providing the Guarantee shall fill in this form
in accordance with the instructions indicated in brackets, if the Employer
requires this type of security.]
We have been informed that [insert name of Contractor] (hereinafter called "the
Contractor") has been awarded a Contract No. [Insert reference number of the
Contract] dated with you, for the execution of [insert name of Contract and brief
description of Works] (hereinafter called "the Contract").
This guarantee shall expire no later than twenty-eight days from the date of
issuance of the Taking-Over Certificate, calculated based on a copy of such
Certificate which shall be provided to us, or on the [insert number day of
[insert month], [insert year], whichever occurs first. Consequently, any demand
for payment under this guarantee must be received by us at this office on or
before that date.
_____________________
[signature(s) of an authorized representative(s) of the Bank ]
3. Performance Bond
Whereas the Contractor has entered into a Contract with the Employer dated
the [insert number] day of [insert month], [insert year] for [insert name of
Contract] in accordance with the documents, plans, specifications, and
amendments thereto, which to the extent herein provided for, are by reference
made part hereof and are hereinafter referred to as the Contract.
Now, therefore, the Condition of this Obligation is such that, if the Contractor
shall promptly and faithfully perform the said Contract (including any
amendments thereto), then this obligation shall be null and void; otherwise it
shall remain in full force and effect. Whenever the Contractor shall be, and
declared by the Employer to be, in default under the Contract, the Employer
having performed the Employer’s obligations there under, the Surety may
promptly remedy the default, or shall promptly:
(1) complete the Contract in accordance with its terms and conditions;
or
The Surety shall not be liable for a greater sum than the specified penalty of
this Bond.
Any suit under this Bond must be instituted before the expiration of one year
from the date of issuance of the Certificate of Completion.
No right of action shall accrue on this Bond to or for the use of any person or
corporation other than the Employer named herein or the heirs, executors,
administrators, successors, and assigns of the Employer.
In testimony whereof, the Contractor has hereunto set its hand and affixed its
seal, and the Surety has caused these presents to be sealed with its corporate
seal duly attested by the signature of its legal representative, this [insert day]
day of [insert month], [insert year].
Date: ________________
It is a condition for any claim and payment under this guarantee to be made
that the advance payment referred to above must have been received by the
Contractor on its account number ___________ at _________________ [name
and address of Bank].
Yours truly,
Signature and seal:
Name of Bank/Financial Institution:
Address:
Date: