Sample Template Example of a Professional Bank Guarantee Bond Format in Liew of Retention Money / Security Deposit for customs / Tender / GST Bond for Performance Bond / BID Bond / Surety Bond / Insurance Bond / Indemnity Bond etc in Word / Doc / Pdf Free Download
APPENDIX ‘E’
BANK
GUARANTEE BOND (IN LIEU OF RETENTION MONEY)
Place of execution _________________________________ Name
of State ____________________________
Stamp Paper for Rs
_______________________________________________________________
1. In
consideration of the President of India (hereinafter called “the Government”)
having agreed not to retain Rs ___________________. (Rupees
__________________________________ only) out of the reserve or the retention
money as provided under the terms and conditions of Contract Agreement No
__________________________ (hereinafter called “the said Agreement”) made
between the President of India and Shri/S’ Shri @ ___________________________ from the claims of the said
Contractor (s) in respect of the work done by the said Contractor (s) for the
due fulfillment by the said Contractor (s) of the terms and conditions
contained in the said Agreement, on production of a Bank Guarantee for Rs. _______________________ (Rupees
_________________________________________ only) we,
________________________________ Bank* (hereinafter referred to as “the Bank”),
do hereby undertake to pay the Government, an amount, not exceeding Rs
_________________________ (Rupees
_________________________________________________ only), against any loss or
damage caused to or suffered or would be caused to or suffered by the
Government, by reason of any breach by the said Contractor (s) of any of the
terms or conditions contained in the said Agreement.
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