TENDER FOR RECEIPT, STORAGE AND HANDLING OF BASE OIL AT CHENNAI TENDER No:SCG/STORAGE BASEOIL/577/09-10 Dated: Due date:

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1 TENDER FOR RECEIPT, STORAGE AND HANDLING OF BASE OIL AT CHENNAI TENDER No:SCG/STORAGE BASEOIL/577/09-10 Dated: Due date: Offers in two parts are invited for receipt, storage and handling of group I/ group II Base Oils on behalf of M/S Bharat Petroleum Corporation Ltd in and around Chennai. Minimum facilities required are: 1 year experience in similar activities Availability of dedicated tanks :The tankage requirements are for two products ( group I / group II base oil) with separate dedicated tanks of approximate capacity of and kl respectively QC systems for checking base oil quality Pipelines ( piggable) from Jetty to terminal at Chennai. Tank lorry loading / unloading gantries Weigh bridge Estimated volume is approx kl per annum. However, we do not guarantee any min. throughput volume. Interested parties having these facilities shall send their offer as per the format attached to us in sealed envelope super-scribed as "OFFER FOR RECEIPT, STORAGE AND HANDLING OF BASE OILS and addressed to: Head, Supply Chain, Lubes, 2 nd floor, A installation Bharat Petroleum Corp. Ltd., Sewree- Fort Road, Sewree East, Mumbai Please submit your best offer duly sealed and stamped, for receipt, storage and handling of base oil at the above-mentioned location. The last date for submission of offer completed in all respect is at 1500 Hrs. Offer received late after the due date / time will be rejected. Please submit your Technical Bid and Price Bid separately in separate envelopes clearly super scribing the bids and put them in one envelope mentioning the Tender number and last day of opening. Technical Bid with commercial terms without price shall be opened on the scheduled date /time at SCM office at above mentioned address in the presence of all the bidders. You or your authorized representative may be present at the time of opening of technical bid. No separate Intimation will be sent in this regard, unless there is a change in the date/time/place of opening of tender. The date of opening of price bid of technically qualified tenderers shall be intimated separately. Your quotation in response to this tender enquiry should be strictly in line with the following terms and conditions. 1

2 TECHNICAL BID: Details required enclosed as per Annexure I. Please also submit copies of all relevant certificates / licenses as proof. Kindly note that your price bid against this tender will be considered only in the event of your technical Bid being accepted by us. PRICE BID: Commercial Bid in a separate envelope clearly super scribing the name of the bid should be put in the bigger envelope along with technical bid mentioning the Tender number and last day of opening. GENERAL TERMS & CONDITIONS: 1. Validity of Rates & period of contract: Rates offered should remain valid for at least 120 days from the date of opening of tender. 2. Stocks of Base Oils at the vendor s premises shall remain the property of BPCL and the vendor shall be solely responsible for the safe custody/handling of the product and will account for them according to the laid down procedures of BPCL. 3. The contract period will be for initially for a period of Twelve (12) months from the date of contract and can be further extended for a period of twelve (12) months on same rates terms and conditions on mutual consent. 4. The scope of work to be carried out is enclosed as Annexure II. 5. The vendor shall maintain strict confidence and secrecy in respect of all information of a propriety nature received by it directly or indirectly pursuant to this agreement and each party shall use its best endeavors to ensure that its respective employees maintain strict confidence and secrecy in respect of such information. 6. The vendor should comply with all formalities related to excise / sales tax, VAT registration/ provident fund registration etc. 7. The vendor shall observe all the necessary statutory regulations for health, safety, security & environment at their terminal. 8. Vendor shall follow all the Quality Control guidelines of Bharat Petroleum Corporation Ltd. (copy enclosed). 9. Termination Clause : Termination clause will be as per Annexure III of the general terms and conditions copy enclosed 10. Arbitration Clause: Arbitration clause will be as per Annexure IV of the general terms and conditions -copy enclosed. 11. Sub-leasing and CENVAT clause: as per Annexure-V 12. Force Majeure Clause : If at anytime during the continuance of the contract the performance in whole or part by either party of any obligation under the contract shall be prevented or delayed by reason of any war, hostility, act of 2

3 public enemy, civil commotion, sabotage, fires, floods, explosions, epidemics, quarantine restrictions, strikes, lockouts or Acts of God (hereinafter referred as event) then provided notice of the happening of any such event is given by either party to the other within twenty one days from the date of occurrences thereof, neither party shall by reasons of such event be entitled to terminate this contract nor shall either party have any claim for damage against the other in respect of such non-performance. Deliveries under the contract shall be resumed as soon as practicable after such event has come to an end or ceased to exist and decision of Head Lubes SBU, Bharat Petroleum Corporation Ltd., as to whether the deliveries have been so resumed or not, shall be final and conclusive. Provided further hat the performance in whole or part of any obligation under the contract is prevented/delayed by reason of any such event specified above for period exceeding sixty days, either party may at their option terminate the Purchase Order. 13. Integrity Pact Program: A proforma of the Integrity Pact document is enclosed separately. Please note: a) Proforma of Integrity Pact shall be returned by the bidder/s along with the bid documents ( technical bid in case of 2 part bids), duly signed by the same signatory who is authorized to sign the bid documents. All the pages of the Integrity Pact shall be duly signed. Bidder s failure to return the IP document duly signed along with the bid documents shall result in the bid not being considered for further evaluation. b) If the bidder has been disqualified from the tender process prior to the award of the contract in accordance with the provisions of the Integrity Pact, BPCL shall be entitled to demand and recover from the bidder Liquidated damages amount by forfeiting the EMD/Bid security as per provisions of the Integrity Pact. c) If the contract has been terminated according to the provisions of the Integrity Pact, or if BPCL is entitled to terminate the contract according to the provisions of the Integrity Pact, BPCL shall be entitled to demand and recover from the contractor, Liquidated Damages amount by forfeiting the Security Deposit./ Performance Bank Guarantee as per provisions of the Integrity Pact. d) Bidders may raise disputes / complaints, if any, with the nominated Independent External Monitor whose name/ address / contact numbers are as given below: Shri T.S. Krishnamurthy Flat No. 9, Gokul Tower, Next to Mookambika Complex, No. 7, C P Ramaswamy Road, Alwarpet, Chennai Tel: / / Mobile: Payments: The vendor shall raise a bill on a monthly basis complete in all respect for all charges payable for a period of one calendar month. The bills shall be submitted by 10 th of next month and payments shall be made 30 days from receipt of bills. 3

4 15. All entries in the tender should be neatly typewritten or hand written. There should be no erasing or overwriting. 16. Tenders not conforming to the terms and conditions prescribed in the tender documents will be rejected. 17. Details of tenderer s relationship with B P C L s Directors should accompany the offer in the format as mentioned in the Annexure VI, copy enclosed. 18. A formal agreement shall be drawn up between BPCL and the successful party once the tender is finalized. 19. Bank Guarantee: Successful bidder shall furnish a bank guarantee in the format provided, for a value of Rs 40 lakhs. The Bank Guarantee shall be valid for 30 months( 24 +6), i.e. valid till 6 months beyond the validity of the contract. 20. Kindly quote your permanent account Number and the Income Tax/ Circle/Ward/District in which Income Tax is assessed. 21. Kindly note that no counter terms and conditions shall be acceptable to us. 22. Kindly submit your lowest offer along with the duplicate copy of this tender (with all enclosures) duly signed and stamped by you as token of your acceptance of the aforesaid terms & conditions. Thanking you, Yours faithfully, For Bharat Petroleum Corp. Ltd. Head SCM, Lubes We have carefully read and understood the above tender enquiry and hereby agree to accept all the tender terms and conditions stipulated therein. Signature of the tenderer with Rubber stamp: Place: Date : 4

5 Annexure-1 TECHNICAL BID : DETAILS REQUIRED FROM THE VENDOR The vendors are advised to provide details in seriatim for the technical evaluation and capability to undertake the job of handling coastal tanker receipt, storage and deliveries. You can use additional sheet to provide the requisite details asked for 1. Name and Address of the vendor. (Provide phone number with contact person details) 2. Whether Partnership firm? Name of the partners with their contact number 3. Mandatory Licenses ( copies to be enclosed ) specifying the ownership of the facilities enclosing documentary evidence 4. Rough Sketch mentioning area, Lay out of the Terminal 5. Dock line : Number of lines for base oil handling, Diameter of the line, age of the pipeline, Pipeline Length, When last pressure tested 6. Whether Line is piggable : If Yes, Type of pigging arrangement 7. Tanker Berthing Facility : Provide Details 8. Storage Tanks: Specify the tanks mentioning the capacity, safe capacity, vintage etc. whether separate receipt and delivery lines are provided for each tank with positive segregation. Whether two tanks of capacity KL and KL can be made available for BPCL exclusively ( Provide the details ) 9. Product Pumps : Pump details and capacity, Availability of dedicated pumps for each product 10. Pump Manifold: Dedicated pump and piping from tanker receipt manifold to storage tanks and from the tanks for filling so that there is no possibility of intermixing of product during entire operations. Please confirm. 11. Tank lorry filling gantry : No of bays, Provision of metering unit at loading bay, No of TL of 18 kl capacity which can be loaded per shift of 8 hours 12. Availability of weigh bridge and Capacity : 13. Availability of TL parking area : Number of TLs which can be parked for loading 14. QC support systems: For receipt, storage and delivery, Tank cleaning procedures for adoption for base oil tanks to be offered to us. Specify the product which was stored prior to proposed base oil storage 5

6 15. Space Availability : For preparation of documents for release of trucks with VSAT facility / internet facility 16. Fire Water Systems : Please provide details 17. HSSE practice and facilities for TL loading, Receipt and Storage area. Safety fitting of the tanks, Elaborate facilities for containment of the product incase of any spillage 18. On Site Emergency plan along with contact number for persons who will be available for any emergency situations 19. Readiness to execute direct sales from the Terminal to our customers If so, details of excise license and other licenses if any 20. Experience of the Vendor in handling of Base Oils - Please provide details. 21. Experience in handling Excise Matters pertaining to Base Oil handling Please provide details. 22. Knowledge of SAP based invoicing / documentations. 6

7 Annexure - II TENDER FOR RECEIPT, STORAGE AND HANDLING OF BASE OIL AT CHENNAI SCOPE OF WORK: 1. Receipt of Base Oils from Ocean Tanker to the nominated terminal tanks which may include following activities: a) Preparatory work for receipt of Base Oils by preparing a check list for Ocean Tanker Shore activities, obtain Ocean Tankers Masters signature for sequence for discharge. b) Tank should be made ready for receipt of Base Oil. c) Finalize the sequence in which the Base Oil is to be discharged as indicated by BPCL and as discussed with the Master d) The Bill of Lading should be verified by the vendor for product and quantity. e) The Pipelines to the shore tanks are flushed/pigged as necessary. f) The Ocean Tanker s tanks should be dipped and the volume and temperature to be taken. These should be signed by the Ocean Tanker s Master and the Surveyor. g) To coordinate with BPCL s authorized representative for pre discharge sampling of Base Oils as indicated in the QC Guidelines issued by BPCL from time to time. h) All the shore tanks nominated for receipt should be segregated and dipped to confirm emptiness of tanks. In case the tanks contain Base Oils, the quantity should be ascertained and recorded. i) The shore tanks nominated for Base Oil receipts should be dipped at an interval of every one hour during discharge and a record of the quantity discharged from the Ocean Tanker and the quantity received in the shore tanks to be recorded in the log book / prescribed format of BPCL. j) To ensure that the Ocean Tanker s tanks are fully cleared of Base Oil after discharge operations. k) Before changeover from one grade of Base Oil to another grade, the pipeline shall be pigged to ensure that the pipeline is free of earlier contents. l) All nominated tanks receiving Base Oils should be allowed to settle for 24 hours after discharge operations are completed. Thereafter the nominated tanks should be dipped jointly with the Surveyor and Vendor s representatives. The temperature and volume should be recorded in the log book. Samples as indicated in BPCL s QC Guidelines should be sent to BPCL for carrying out QC Checks. m) To ensure that the surveyor prepares the outturn report by considering the density provided by BPCL. n) To ensure that quantity reconciliation for each grade of Base Oil is completed and recorded by considering the BL quantity, the Ocean Tanker arrival quantity and the Outturn report quantity and handed over to BPCL s authorized representative within 48 hours of completion of discharge activities. 2. Storage and Handling of Base Oils. a) The vendor shall gauge the Base Oil tanks on a daily basis and record the temperature and volume in the format prescribed by BPCL. All tanks should be sealed at the close of operations on a daily basis. 7

8 b) The vendor shall maintain the records with respect to receipt, dispatch, loss if any, and closing stock on a daily basis. A weekly summary report shall be submitted to Plant Manger Tondiarpet. c) In case of dormant tanks, samples of Base Oils shall be drawn for QC checks. d) The vendor shall be responsible for quantity and quality of the products during receipt, storage and dispatches e) Handling loss of 0.02% of volume or actual whichever is low shall be allowed on the quantity dispatched. Any loss beyond 0.02% shall be recovered from the vendor. The quantity reconciliation will be done on monthly basis 3. Dispatch of Base Oils by Tank Lorries to BPCL shall include following activities: a) The vendor shall provide facilities for Tank Lorry loading. b) The vendor shall check and ensure that all the Tank Lorries meet safety and statutory norms as specified from time to time by regulatory authorities / BPCL. c) Empty Tank Lorries are weighed for Tare Weight and the same is recorded. d) Periodic calibration of Weigh-Bridge is carried out and records are maintained. e) Drawing of Base Oil samples in three bottles from the delivery point. To send two sample bottles with the Tank Lorry to BPCL and one to be retained at the Terminal. f) Sealing of Tank Lorries with plastic seals, Abhloy locks /or any other sealing system provided by BPCL. g) Vendor shall maintain records of dispatches by road on a daily basis indicating lorry number, grade of Base Oil, quantity in kl and mt, Gross and Tare weight, destination, entry and exit time or any other details as communicated by BPCL from time to time. h) Handing over relevant documents to the Tank Lorry crew. i) Maintain records for Base Oils dispatched through individual transporters and performance of individual transporters. j) Tank Lorries to be loaded within two (2) hours of reporting at the vendor s premises meeting all statutory requirements like RLW,W&M calibration, driver license, vehicle certificates etc. k) Before loading the lorries, the confirmation of acknowledgement of previous load is to be verified. In the absence of any acknowledgment, such lorries should not be loaded l) A minimum of fifteen (15) number of Tank Lorries of 18 KL capacity or actual number of tank lorry placed by BPCL, which ever is less, shall be loaded by the vendor in an Eight hour shift. 4. The vendor shall be responsible for maintaining all statutory records such as Excise, Sales Tax etc. 5. Any losses incurred by BPCL due to violation of statutory norms relating to excise, sales tax etc. shall be recovered from the vendor. 6. BPCL shall take adequate coverage of insurance for the Base Oil against natural calamities like earthquake, floods etc. Any losses due to negligence directly attributable to the vendor, vendor s employees shall be recovered from the vendor. 8

9 7. Vendor shall provide suitable office space and staff to carry out SAP /ERP documentation and other related activities. 8. Vendor shall follow delivery instructions as provided by BPCL s authorized representative. 9. All documents / records are to be strictly maintained as per the prescribed format provided by BPCL and shall be made available for inspection on demand by the authorized representative of BPCL. 10. The vendor shall not sublease the tanks allocated to BPCL. 9

10 ANNEXURE- III TERMINATION CLAUSE Not withstanding anything to the contrary herein contained, BPCL shall also be at liberty at its entire discretion to terminate this agreement forthwith upon or at any time after the happening of any of the following events namely: a) If you commit a delay, breach or default of any of the terms, conditions, covenants and stipulations contained herein. b) Upon death or adjudication as insolvent if you are individual (this clause is to be suitably modified if business is carried on by partnership or by limited company or by a co-operative society.) c) If any attachment is levied and continued to be levied for a period of seven days upon your effects. d) If you are involved in any criminal offence relating to Moral Turpitude. e) If a receiver is appointed of any of your property or assets. f) If the license issued to you by the relevant statutory authorities is cancelled or revoked. g) If you have made default in payment of any money of the BPCL without formal approval of the BPCL in writing. h) If you fail to adhere to the instructions issued to you by the BPCL from time to time in respect of the business condition herein. i) If you contaminate or tamper with the quality of BPCL's product given in you. j) If the ownership / tenancy of the premises from which you are carrying on the business if transferred/terminated for any reason whatsoever. k) If you, yourself or to your servant or agents commit or suffer to committed any act which in the opinion of the Executive Director (Lubes) of the BPCL is prejudicial to the interest or good name of BPCL or its product. Executive Director (Lubes) shall not be bound to give reasons to such decisions. l) The BPCL's right to terminate the contractual obligations under this clause shall be without prejudice to and without affecting any of its rights and remedies against you. In the event of BPCL terminating this agreement under the provisions of this clause it shall not be liable to pay for any loss or compensation in respect of such termination. Without prejudice to the foregoing provisions or anything to the contrary herein contained, BPCL shall be entitled to terminate this agreement on giving 90 days written notice to the other parties without assigning any reasons for such termination. 10

11 ANNEXURE- IV ARBITRATION CLAUSE a) Any dispute or difference of any nature whatsoever any claim, cross-claim, counter-claim or set off of the Company against the contractor or regarding any right, liability, act omission or account of any of the parties hereto arising out of or in relation to this agreement shall be referred to the Sole Arbitration of the Director (Marketing) of the Company or of some Officer of the Company who may be nominated by the Director (Marketing). The Contractor will not be entitled to raise any objection to any such arbitrator on the ground that the arbitrator is an Officer of the Company or that he had dealt with the matters to which the contract relates or that in the course of his duties as an Officer of the Company he had expressed views on all or any other matters in dispute or difference. In the event of the arbitrator to whom the matter is originally referred being transferred or vacating his office or being unable to act for any reason, the Director (Marketing) as aforesaid at the time of such transfer, vacation of office or inability to act may in the discretion of the Director (Marketing) designate another person to act as arbitrator in accordance with the terms of the agreement to the end and intent that the original Arbitrator shall be entitled to continue the arbitration proceedings notwithstanding his transfer or vacation of office as an Officer of the Company if the Director (Marketing) does not designate another person to act as arbitrator on such transfer, vacation of office or inability of original arbitrator. Such persons shall be entitled to proceed with the reference from the point at which it was left by his predecessor. It is also a term of this contract that no person other than the Director (Marketing) or a person nominated by such Director (Marketing) or the Company as aforesaid shall act as arbitrator hereunder. The award of the arbitrator so appointed shall be final conclusive and binding on all parties to the agreement subject to the provisions of the Arbitration Act, 1940 or any statutory modification or reenactment thereof and the rules made thereunder for the time being in force shall apply to the arbitration proceedings under this clause. b) The award shall be made in writing and published by the Arbitrator within two years after entering upon the reference or within such extended time not exceeding further twelve months as the Sole Arbitrator shall by a writing under his own hands appoint. The parties hereto shall be deemed to have irrevocably given their consent to the Arbitrator to make and publish the award within the period referred to hereinabove and shall not be entitled to raise any objection or protest thereto under any circumstances whatsoever. c) The arbitrator shall have power to order and direct either of the parties to abide by, observe and perform all such directors as the arbitrator may think fit having regard to the matters in difference i.e. dispute before him. The arbitrator shall have all summary powers and may take such evidence oral and / or documentary, as the arbitrator in his absolute discretion thinks fit and shall be entitled to exercise all powers under the Arbitration Act 1940 including admission of any affidavit as evidence concerning the matter in difference i.e. dispute before him. d) The parties against whom the arbitration proceedings have been initiated, that is to say, the Respondents in he proceeding, shall be entitled to prefer a cross- 11

12 claim, counter-claim or set off before the Arbitrator in respect of any matter an issue arising out of or in relation to the Agreement without seeking a formal reference of arbitration to the Director (Marketing) for such counter-claim, cross-claim or set off and the Arbitrator shall be entitled to consider and deal with the same as if the matters arising therefrom has been referred to him originally and deemed to form part of the reference made by the Director (Marketing). e) The arbitrator shall be at liberty to appoint, if necessary any accountant or engineering or other technical person to assist him, and to act by the opinion so taken. f) The arbitrator shall have powers to make one or more awards whether interim or otherwise in respect of the dispute and difference and in particular will be entitled to make separate awards in respect of claims or cross-claims of the parties. g) The arbitrator shall be entitled to direct any one of the parties to pay the costs of the other party in such manner and to such extent as the arbitrator may in his discretion determine and shall also be entitled to require on or both the parties to deposit funds in such proportion to meet the arbitrators expenses whenever called upon to do so. h) The parties hereby agree that the courts in the city of Mumbai alone shall have jurisdiction to entertain any application or other proceedings in respect of anything arising under this agreement and any award or awards made by the Sole Arbitrator hereunder shall be filed in the concerned courts in the city of Mumbai only. ANNEXURE-V SUB-LEASING & CENVAT CLAUSE SUB-LEASING: You shall not be allowed to sublet or assign any part of the order without our prior written consent. CENVAT: Kindly indicate whether you are availing CENVAT. If so. a) The price to be quoted by you should take into account the entire credit on inputs available under the CENVAT Scheme. b) In the event of CENVAT credit being extended by the Government of India to more items than already covered, you should advise us about the additional benefits accrued through a letter containing the following certificate of any variation thereof as may be considered necessary by us. " We hereby declare that we can avail additional duty set offs as per latest CENVAT Scheme in force now and we hereby give a reduction of per unit and agree to revise the prices indicated in the order. The current excise duty of payable on this reduced price. Therefore, we request you to amend the order accordingly. 12

13 ANNEXURE- VI Certificate I certify that a. I am not related to any of the Directors of BPCL. b. I am not a partner of a firm in which BPCL Director is also a partner. c. I am not a partner of a firm in which any other partner is related to BPCL Director. I also certify that M/s. [name of the firm with which contract is being entered into] does not have a partner, who is a Director of BPCL or his relative. Signature Seal 13

14 Format for offering rates: TENDER FOR RECEIPT, STORAGE AND HANDLING OF BASE OIL AT CHENNAI TENDER No:SCG/STORAGE BASEOIL/577/09-10 Dated: Due date: The rates offered by the tenderers shall cover the following costs: Item Amount In fig Amount In words 1) Receipt of base oils Rs / kl Rs / kl By Ocean Tanker By tank lorries 2) Storage & Handling of base oils Rs / kl / month Rs / kl / month Rs/ kl per month 3) Dispatches of base oils Rs / kl Rs / kl By tank lorries Note: a) Please specify other terms, if any. b) Please specify details of taxes and other levies, if any, applicable. Signature of the party with seal: Date : Place: 14

15 (To executed by Bank on Stamp Paper of appropriate value) FORMAT OF BANK GUARANTEE FOR SECURITY DEPOSIT 1. In consideration of the BHARAT PETROLEUM CORPN. LTD., having its Registered office at 'BHARAT BHAWAN, 4&6, CURRIMBHOY ROAD, BALLARD ESTATE, MUMBAI (hereinafter called "the Corporation") having agreed to exempt having its office at (hereinafter called "the said contractor"/ "the said suppliers" / "the said sellers" / "the said buyers") from the demand under the terms and conditions of an Agreement/ Purchase Order / Letter of Intent ref. dated made between the Corporation and M/s (hereinafter called "the said agreement" / "the said purchase order"/ "the said letter of intent/ "the said contract") of security deposit for the due fulfillment by "the said contractors" / "the said suppliers" / the said sellers" / "the said buyers* of the terms and conditions contained in "the said agreement / purchase order / letter of intent / Contract *on production of a bank guarantee of Rs. (Rupees only. We, hereinafter ( indicate the name of the bank) referred to as the bank (at the request of do hereby undertake to pay to ( name of contractors/supplies/sellers/buyers*) the Corporation an amount not exceeding Rs. against any loss or damages caused to or suffered or would be caused to or suffered by the Corporation by reason of any breach by the said contractors/suppliers/sellers/buyers if any of the terms and conditions contained in the said agreement/purchase order/letter of intent/contract. 2. We, do hereby undertake (indicate the name of the bank) to pay the amounts due and payable under this guarantee without any demur, merely on a demand from the Corporation stating that the amount claimed is due by way of loss or damaged caused to or would be caused to or suffered by the Corporation by reason of breach by the said contractors/suppliers/sellers/agreement/buyers, failure to perform the said agreement/purchase order/letter of intent/contract. Any such demand made on the bank shall be conclusive as regards the amount due and payable by the bank under this guarantee. However, our liability under this guarantee shall be restricted to an amount not exceeding Rs.. 3. We undertake to pay to the Corporation any amount so demanded notwithstanding any dispute or disputes raised by the contractors/suppliers/sellers/buyers *in any suit or proceeding pending before 15

16 any court or tribunal or Arbitrator relating there to our liability under this present being absolute and unequivocal). The payment so made by us under this bond shall be valid discharge of our liability for payment there under and the contractors/suppliers/sellers/buyers shall have no claim against us for making such payment. 4. We, further agree that the (Indicate the name of the bank) guarantee herein contained shall remain in full force and effect during the period that would be taken for the performance of the said agreement/purchase order/letter of intent/contract and it shall contain to be enforceable till all the dues of the Corporation under or by virtue of " the said agreement/purchase order/letter of intent/contract *have been fully paid and its claims satisfied or discharged or till the Corporation certifies that the terms and conditions of the said agreement/purchase order/letter of intent/contract *have been full and properly carried out by the said contractors/suppliers/sellers/buyers * and accordingly discharge this guarantee. Unless a demand or claim under this guarantee is made to us in writing on or before, we shall be discharged for all liabilities under this guarantee thereafter. 5. We, further agree with the Corporation that the Corporation shall have the fullest liberty without our consent and without affecting in any manner our obligations hereunder to vary any of the terms and conditions of the said agreement/purchase order/letter of intent/contract * or to extend time of performance by the said contractors/suppliers/sellers/buyers from time to time or to postpone for any time or from time to time any of the powers exercisable by the Corporation against the said contractors/suppliers/sellers/ buyers and forbear or enforce any of the terms and conditions relating to the said agreement/purchase order/letter of intent / contract * and shall not be relieved from our liability by reason of any such variation, or extension being granted to the said contractors/suppliers/sellers/buyers * or for any forbearance act or omission on the part of the Corporation or any indulgence by the Corporation to the said contractors/suppliers/sellers/buyers or by any such matter or thing whatsoever which under the law relating to sureties would but for this provisions have effect of so relieving us. 6. This guarantee will not be discharged due to the change in the constitution of the Bank or the contractors/sellers/buyer *. 7. We, lastly undertake (indicate name of the Bank) not to revoke this guarantee during its currency except with previous consent of the Corporation in writing. Dated the day of 200. For. (Indicate the name and address of the bank) *Strike out words not applicable. 16