Reserve Bank of India Issue Department Lucknow TENDER FOR DISPOSAL OF SHREDDED CURRENCY NOTE BRIQUETTES (COMPRESSED SOILED NOTES)/SHREDS Name of the Tenderer: Address: Last Date for Submission: March 06, 2018 before 02:00 PM Reserve Bank of India Issue Department 8-9, Vipin Khand, Gomti Nagar Lucknow-226010 Uttar Pradesh
TENDER FOR DISPOSAL OF SHREDDED CURRENCY NOTE BRIQUETTES (COMPRESSED SOILED NOTES)/SHREDS Section-I General Instructions to Tenderers and Special Conditions 1. Tender in prescribed form shall be submitted in sealed envelope super-scribing Tender for Disposal of shredded currency note briquettes (compressed soiled notes)/ shreds for the period from April 01, 2018 to March 31, 2019 and addressed to The Regional Director, Issue Department, Reserve Bank of India, 8-9 Vipin khand, Gomti Nagar, Lucknow. The envelope containing the tender form shall be dropped before 02:00 PM on March 06, 2018 in the tender box kept in Issue Department. No tender will be received after the stipulated time and date. Full name, postal address, e-mail address and telefax / telephone number(s) of the tenderer shall be written on the bottom left corner of the sealed envelope. Tenders submitted through Fax and E-mail shall not be accepted. 2. The tender form must be filled in English or Hindi and all entries must be made by hand and written in ball pen. All copies of the tenders should be completed in all respects with all attachments/ enclosures/ Annexure. If any of the documents is missing or unsigned, the tender may be considered invalid by the Bank at its discretion and the same will be liable to be rejected. 3. Tenderers are advised to use only the forms (Tender Forms) downloaded from the RBI website (www.rbi.org.in). No changes should be made in the forms downloaded from the RBI Website. In case of submission of tenders downloaded from the website, if any change / modification from the original is found subsequently, such tenders are liable for disqualification / rejection. However, if a tenderer desires to submit additional information, he / it may do so separately on his / its letter head / paper without changing or modifying the tender document. 4. Each page of the tender submitted and pages containing additional information, if any, shall be duly signed by the tenderer. 5. All insertions, postscripts, additions, over writings and alterations should be duly authenticated by the tenderer. Failure to authenticate insertions, postscripts, additions, over writings and alterations may lead to rejection of the tender. 6. The tender shall contain: (i) the credentials of the Tenderer in the prescribed format; (ii) the acceptance of the terms and conditions; (iii) the Earnest Money Deposit of Rs. 50,000/- (Rs. Fifty Thousand only) by way of Demand Draft or Banker s Cheque favouring Reserve Bank of India, Lucknow payable at Lucknow. The EMD deposited in the form of a Bank
Guarantee (as per the proforma provided in Annex I) issued by a Scheduled Commercial Bank and valid for 90 days from the last date of opening of the tenders. The amount of EMD can also be paid by NEFT by depositing the amount in favour of Reserve Bank of India, Lucknow Account No. - 186003001 IFSC RBIS0LKPA01, the particulars of amount remitted may be provided in the form. (iv) In case of company/ firm, Power of Attorney/authorisation with the seal of the company/firm in the name of the person signing the tender documents; (v) Any other information the tenderer wishes to furnish. (vi) Rates should be quoted in both words and figures and in case of discrepancy between the rates as quoted in words and figures, rates quoted in words shall be treated as authentic and correct. Tenderers should indicate the price per kilogram of shredded currency note briquettes (compressed soiled notes bits) that they offer to the Bank as consideration. The rate quoted shall be exclusive of all taxes, duties, levies, imposed by Central/State Government/ Local Bodies. Any tax/duty/levy imposed by Government/local authorities on Disposal of Shredded Currency Note briquettes (compressed soiled notes)/ shreds shall be borne by the tenderer as per the applicable rates. The tenderer shall be liable to pay the amount of applicable Taxes like GST, TCS, etc. to the Bank which will be deposited by the Bank with the Tax Authorities. (vii) The Tenderer shall bear the expenditure towards bags, labour for bagging/lifting and transportation of the briquettes. 7. Pre bid meeting will be organised at 03:00 PM on February 22, 2018 in Conference room, Reserve Bank of India, 8-9 Vipin khand, Gomti Nagar, Lucknow 226010. 8. The bidders are advised to visit the site/s of work/s / activities, viz. Bank premises and acquaint themselves with the sites and working conditions in order to take informed decision before submission of tender. The tenders / bids should comply with the terms and conditions set out in this tender document. No deviations will be permitted in this regard. 9. Opening of Tender Tenders will be opened on March 06, 2018 at 03:00 PM in the Issue Department, Reserve Bank of India, Lucknow in the presence of tenderers or their authorized representatives, who may choose to be present. 10. Validity of Tender 10.1 The Tender along with the prices shall remain valid initially for a period of 90 (Ninety) days from the date of opening of Part I of tender and the tenderers shall not
cancel or withdraw the tender during this period. The validity period may be further extended by mutual agreement in writing by the tenderers and the Bank. Such withdrawal / cancellation during the initial validity period of ninety days or the mutually agreed extended period shall lead to forfeiture of the EMD by the Bank. In the event the period is extended, the tenderer will validate the EMD appropriately. The Bank shall return the EMD to the unsuccessful bidders without any interest. 10.2 The Bank reserves the right to reject any or all the tenders, either in whole or in part, without assigning any reason. 10.3 The tenderer, whose tender is not accepted, shall not be entitled to claim any costs, charges, damages, expenses and incidental to or incurred by him for or in connection with his submission of tenders, even though the Bank may elect to modify / withdraw the tender. 11. Earnest Money Deposit 11.1 Interested tenderers shall deposit as Earnest Money, a sum of Rs. 50,000/- (Rupees Fifty Thousand only) by means of a Demand Draft, Banker s Cheque, NEFT or Bank Guarantee issued by a scheduled bank and favouring Reserve Bank of India. The DD / BC should be payable at Lucknow. The Bank Guarantee should be valid for the entire validity period of the tender / bid. If the Tenderer, after submission of the tender, demurs, resides or deviates from his/their offer or modifies the terms and conditions thereof which are not acceptable to the Bank, EMD shall be forfeited. 11.2 Tender not accompanied by the prescribed Earnest Money Deposit (EMD) shall be rejected. 11.3 Should the invitation of Tender be withdrawn or cancelled by the Bank, which shall have the right to do so at any time no compensation / reimbursement shall be payable to tenderers for incurring expenditure in the process of submitting the tenders or preparation there for. 11.4 Should the successful Tenderer fail to furnish the Security Deposit as prescribed under this Tender Document, EMD shall be forfeited by the Bank, without prejudice to his (tendering) liability for any further loss or damage incurred in consequence, by the Bank. 12. Terms of contract 12.1 On receipt of an intimation from the Bank of the acceptance of his / their tender, the successful tenderer shall submit a Security Deposit of Rs 1,25,000/- (Rupees One Lakh Twenty Five Thousand Only) within a week of such intimation. Upon depositing Security Deposit, the Bank shall return the EMD to the successful tenderer without interest. The tenderer shall be required to sign an agreement containing various terms and conditions. Security Deposit may be furnished in the form of Bank Guarantee (as per the Performa provided in Annex II) of similar amount issued by a scheduled commercial bank. The Bank Guarantee should cover the entire contract
period and should be valid for a period of six months beyond the contract period. However, the written acceptance to the Reserve Bank of India by the successful tenderer will constitute a binding contract between the Reserve Bank of India and the person so tendering, whether such formal agreement is or is not subsequently executed. 12.2 All compensations or other sums of money payable by the Contractor to the Bank under the terms of this contract shall be deducted from the EMD, Security Deposit or other dues payable or becoming payable to the Contractor. Shortfall in the Security Deposit caused by such deductions shall be made good by the contractor within three working days from such deduction/s failing which the Bank shall recover interest at the simple rate of interest of 18.00 percent (%) per annum (pa) for the amount of shortfall and the period for which such shortfall continues. 12.3 The tender period shall be April 01, 2018 to March 31, 2019, which can be extended by the Bank at its option, with the consent of the Tenderer, for further period of two year, in two stages of one year at a time subject to satisfactory performance. 12.4 The successful tenderer shall have to lift/collect the note briquettes twice in a week or earlier as fixed by the Bank, on working days (Monday to Friday) between 9:30 a.m. to 5:30 p.m. or any other day as may be decided by the Bank, failing which the Bank shall have the right to forfeit the security deposit. The successful tenderer shall make requisite payment in advance (by NEFT) before lifting the briquettes. 12.5 The bag containing briquettes will be weighed in front of the tenderer s representative during delivery of the same. No claim regarding discrepancy in weight will be entertained after the briquettes leave the Bank s premises. 12.6 The bags containing briquettes should be lifted and removed from the Bank s premises in such a way that there should not be accumulation of 12500 kgs of shredded currency note briquettes (compressed soiled notes)/ shreds in the briquetting collection area/ shred at any point of time. For accumulation beyond 12500 kgs, the Bank, if it is so desires, can charge Rs.500/- per day till they are lifted and taken outside Bank s premises. The Bank shall appropriate the amount so calculated from the amounts payable to the successful tenderer and he shall not object to the same. 12.7 The successful tenderer shall have to take delivery of the note briquettes purchased by him within the specified office hours and in no case, the Bank will allow the tenderer to take delivery of the same after the office hours. 12.8 The successful tenderer shall make good and reimburse to RBI any damage or loss sustained by reason of any inefficiency, incompetence, negligence or defect or delay in carrying the briquettes or by reason of any act of dishonesty or fraudulent conduct on his part or the staff engaged by him. The assessment of such loss by the Bank shall be final and after due notice to the tenderer, it shall become payable /adjustable from security deposit kept with the Bank, once it is approved by General
Manager/Deputy General Manager-in-charge, Issue Department, RBI, Lucknow and the successful tenderer shall not object to the same. 12.9 The briquettes (compressed soiled notes) shall be disposed/used in eco-friendly way and the successful tenderer shall be required to furnish a certificate/undertaking to this effect. 12.10 While transporting the briquettes (compressed soiled notes) to the destination, Contractor shall ensure that no briquettes (compressed soiled notes) falls by the wayside or come into possession of wrong/unintended persons. In case, the Contractors themselves are not the end users of the briquettes (compressed soiled notes), then the Contractors shall also furnish the names and addresses of end users. 12.11 The contractor shall submit a list of the labourers, whom he would engage for the purpose of bagging of the briquettes and lifting of bags. The contractor should give their complete names and addresses along with recent passport size photographs. It is imperative on the part of the Contractor to get antecedents and character of all the labourers engaged by him verified by the Police before the commencement of the contract. Such police verification certificate shall be produced by the contractor as and when demanded by the Bank. The Contractor shall carry out the police verification annually. 12.12 The Bank can terminate the agreement/ contract after giving a notice of two months to the contractor. If the tenderer wants to terminate the agreement/contract, it should give the Bank a notice of two months. It is binding on the tenderer to continue to collect the briquettes during the two months notice period irrespective of the source of the notice for termination. However, if the Contractor elects to terminate the contract, he shall be liable to risk and cost for the loss the Bank may suffer towards the rate difference for engaging another person for lifting the briquettes for the remaining period. The Bank shall have right to hold and appropriate the Security Deposit towards such rate difference and also to recover any shortfall after adjusting the Security Deposit from the contractor. 12.13 Debar/Disqualification: If the tenderer fails to commence the work despite award of the contract or fails to meet the contractual obligation under the agreement, the Bank acting through Regional Director reserves the right to debar/disqualify the tenderer from participating in any tender or to undertake any work in the Bank for a period of three years. However before doing so the Bank may give a ten days notice to the tenderer and consider the reply given by the tenderer to such notice. The decision of the Regional Director in this regard shall be final. 12.14 The Contractor shall not disclose directly or indirectly any information, materials and details of the Bank s infrastructure/systems/equipments etc., which may come to the possession or knowledge of the Contractor during the course of discharging its contractual obligations in connection with this agreement, to any third party and shall at all times hold the same in strictest confidence. The Contractor shall treat the details of the contract as private and confidential, except to the extent
necessary to carry out the obligations under it or to comply with applicable laws. The Contractor shall not publish, permit to be published, or disclose any particulars of the works in any trade or technical paper or elsewhere without the previous written consent of the Bank. The Contractor shall indemnify the Bank for any loss suffered by the Bank as a result of disclosure of any confidential information. Failure to observe the above shall be treated as breach of contract on the part of the Contractor and the Bank shall be entitled to claim damages and pursue legal remedies. 12.15 The Contractor shall take all appropriate actions with respect to its employees to ensure that the obligations of non-disclosure of confidential information under this agreement are fully satisfied. 12.16 The Contractor s obligations with respect to non-disclosure and confidentiality will survive the expiry or termination of this agreement for whatever reason. 12.17 As and when the Contractor employs more than 20 workers as contract labour, he/ she shall obtain licence from competent authority in accordance with the provisions of the Contract Labour (Regulation and Abolition) Act and comply with other statutory rules and regulations in force from time to time during the subsistence of this agreement. It shall keep the Bank absolved and indemnified from the liability in this respect of any nature whatsoever. Tenderer will adhere to the provisions of various Labour Laws and similar laws, regulations as applicable and will be fully responsible during the course of the tender for due fulfilment of the requirements of the same. Tenderer shall maintain all registers as required by the Regional Labour Commissioner and should furnish the same to the Bank or its representative as and when required. 13. Penalty clause: The Contractor will be required to collect the accumulated bags of briquettes as is where is basis from the Bank premises, failing which the Bank will have the right to remove them from Bank s premises at the cost of the contractor. The expenses incurred in such removing of these bags from the Bank s premises/briquetting area will be recovered from the contractor. The contractor will be required to pay the same immediately. If the contractor fails to pay the same, the Bank shall reserve the right to adjust such expenses from the security deposit with the Bank or by way of invocation of the bank guarantee furnished by the contractor. In addition, the Bank will have the right to impose penalty of Rs.500/- per day, for not performing the work by the contractor as per the demand of the Bank. The contractor will be required to pay the amount immediately. However, before initiating penal action, the contractor will be given opportunity of due hearing by the competent authority (Regional Director) of the Bank. The decision of the Regional Director shall be final and binding. 14. Insurance: The successful tenderer shall take contractors all risk policy for the contract value and work man compensation policy for the workers engaged in the work for one year renewable thereafter if the contractor is renewed by the Bank. The contractor shall indemnify the Bank for any loss and damages that occurs to persons
who are building and third party while executing the work. Third party liability in contractors all risk policy and work men compensation shall be minimum Rs. 2.0 Lakh per person any one accident or occurrences. These policies valid till the contract period. If the contractor does not provide these policies, the Bank reserves the right to take above insurance policies themselves and recover the cost thereof from the bill of the contractor. 15. Sexual Harassment: The contractor/agency shall be solely responsible for full compliance with the provisions of the Sexual Harassment of women at work place (Prevention, Prohibition and Redressal) Act, 2013. In case of any complaint of sexual harassment is received in the Bank against the employee of the contractor the complaint will be referred to the appropriate committee constituted under the said act. The contractor shall be responsible for educating its employees about prevention of sexual harassment at work place and related issues. 16. Evaluation of Tender 16.1 Tenders will be evaluated on the basis of quoted rates as per the scope of works set out in this tender. 16.2 The intending tenderer should thoroughly go through the above terms and conditions and only such of those who are willing to fulfil all the terms and conditions should submit the tender. I / we hereby declare that I / we have read and understood the above instructions for the guidance of tenderers and contents of the standard agreement and accept the same. Signature of the Tenderer Address SEAL Witness: 1. Witness: 2. Signature: Name: Address: Signature: Name: Address:
TENDER FOR DISPOSAL OF SHREDDED CURRENCY NOTE BRIQUETTES (COMPRESSED SOILED NOTES)/SHREDS Details to be filled in by Tenderer Section-II Sr.No. Particulars Details 1. Name of the Tenderer 2. Registered Office Address 3. Telephone No. 4. Mobile No. 5. Fax No. 6. E-mail address 7. PAN No. (Furnish photocopy) 8. TAN No. (Furnish photocopy) 9. GST Registration No. (Furnish photocopy) 10. Constitution of the tenderer (Furnish documentary evidence like Memorandum/Articles of Association, Partnership Deed, etc.) 11. Name/s of the proprietor/ partners/ Director (Copy of document to be submitted) 12. Applicant/vendor s Annual Turnover /Business (Copy of balance sheet) 13. Tax return for the last two years: (Copies of document to be submitted) 14. Bankers Details: i) Name of the bank ii) iii) iv) Branch Address Nature/Type of the Account Account Number
15. Details of Earnest Money deposited: Amount DD/Banker s Cheque/Bank Guarantee/NEFT Drawn on/remittance Details Date 16. Details of the institution/s with which similar tenders have been or are being carried out: Sl. No Name of the Institution Address with Telephone Number Type of work and period 17. Rates (exclusive of taxes) quoted for the purchase of the shredded currency note briquettes (compressed soiled notes)/shreds Item Unit Price per unit in Price per unit in Rupees Rupees (in words) (in figures) Shredded Per currency note Kilogram briquettes (compressed soiled notes)/shreds I / we hereby declare that I / we have read and understood the general instructions and special conditions for the tenderer and also the contents of the standard agreement and accept the same. I/We declare that the particulars/information given by us is true. Signature of the of the authorized personnel Address SEAL
Place: Date: Witness: 1. Signature: Name: Address: Witness: 2. Signature: Name: Address:
Section-III FORM OF TENDER The Regional Director Reserve Bank of India Issue Department Lucknow Dear Sir, Disposal of shredded currency note briquettes (compressed soiled notes)/ shreds 1. We have carefully examined the scope of work and services specified in the memorandum hereinafter set out, having acquired the requisite information relating thereto as affecting the tender. We hereby offer to execute the works and services in the Memorandum for the time specified in accordance with the scope of work, specifications and instructions in writing referred to in General Instructions to the tenderers and Special conditions and with such other materials as are provided for, and in all other respects, in accordance with such conditions so far as they may be applicable. MEMORANDUM a. Description Disposal of shredded currency note briquettes (compressed soiled notes)/ shreds in large quantities (approximately 1000 tonnes for the tender period) on "As Is Where Is Basis" and "No Complaint Basis". b. Earnest Money Deposit Rs. 50,000/- (Rupees Fifty Thousand only) c. Security Deposit Rs. 1,25,000/- (Rupees One Lakh Twenty Five Thousand only) 2. We also agree that our tender will remain valid for acceptance by the Bank for 90 days from the date of opening of the tender and this period of validity can be extended for such period as may be mutually agreed between the Bank and us in writing. We also agree to keep the earnest money valid during the entire period of validity of tender. 3. Should this tender be accepted, I/we hereby agree to abide by and fulfil all the terms and conditions of the tender and in default thereof, to forfeit and pay to you or your successor, or assignees or nominees in Office such sums of money as are stipulated in the conditions contained in the tender together with the written acceptance of the tender.
4. I/we understand that Reserve Bank of India reserve the right to accept or reject any or all the tender either in full or in part without assigning any reason thereof. Dated this day of 2018 For and on behalf of M/s (Signature with seal) Name Designation (Certified true copy of the Power of Attorney of the above signatory should be enclosed). Witnesses (1) Signature with Name, address and date (2) Signature with Name, address and date
Annex I Format of Bank Guarantee to be submitted in lieu of Earnest Money Deposit (To be submitted on non-judicial stamp paper of appropriate value purchased in the name of the issuing bank) This deed of guarantee made this day of of the year Two Thousand Eighteen between (Name of Banker) having its registered office at (place) and one of its local offices at (hereinafter referred to as the Surety ), and Reserve Bank of India, a Body Corporate established under the Reserve Bank of India Act, 1934 and having its Central Office at Central Office Building, Shahid Bhagat Singh Road, Mumbai - 400 001, INDIA (hereinafter referred to as the Bank). WHEREAS (Tenderer s name hereinafter referred to as Tenderer.), a Company/Partnership Firm/Sole Proprietorship/HUF registered under and having its registered office at and an office at.lucknow is required to deposit with the Bank an amount of Rs.50,000 (Rupees Fifty Thousand Only) as Earnest Money Deposit in connection with its Tender for disposal of shredded currency note briquettes (compressed soiled notes)/ shreds for the period from April 01, 2018 to March 31, 2019 WHEREAS the tenderer has elected to furnish a Bank Guarantee valid up to in lieu of the earnest money deposit. NOW THIS WITNESSETH: 1. That the Surety, in connection of the above Tender made by the Tenderer to the Bank, hereby irrevocably undertakes to guarantee unconditional payment on demand without demur to the Bank, the said amount of Rs. 50,000 (Rupees Fifty Thousand Only) within three working days from the date of receipt of the demand from the Bank on presentation of this deed of guarantee, which the tenderer is required to deposit with the Bank in substitution of the Earnest Money Deposit. 2. This guarantee shall not be affected by any infirmity or irregularity on the part of the Tenderer or by the dissolution or any change in the constitution of the Bank, Tenderer or the Surety. 3. The Bank shall be eligible to make a claim under this guarantee if the Tenderer, after submitting his Tender, rescinds from his offer or modifies the terms and conditions thereof which are not acceptable to the Bank or expresses his unwillingness to accept the order after the Bank has decided to award the work subject of the tender to him. The decision of the Bank in this regard shall be final.
4. The Surety cannot and shall not revoke this guarantee during its currency except with previous consent of the Bank obtained in writing. 5. Notwithstanding anything contained in the foregoing, the Surety s liability under the guarantee is restricted to Rs. 50,000 (Rupees Fifty Thousand Only). 6. This guarantee shall remain in force and effective up to and shall expire and become ineffective on intimation thereof being given to the Surety by the Bank in writing in which event this guarantee shall stand discharged. 7. The Surety shall make the payment pursuant to the demand notice issued by the Bank, notwithstanding any dispute that may exist or arise between the Tenderer and the Bank or on the part of the Bank in enforcing any of the conditions of the said tender or showing of any indulgence by the Bank to the tenderer shall not discharge the Surety in any way and the obligations of the Surety under this guarantee shall be discharged only on the intimation thereof being given to the Surety by the Bank. 9. Notwithstanding anything contained herein above, unless a demand or claim under this guarantee is made on the Surety in writing on or before, the Surety shall be discharged from all liabilities under this guarantee thereafter. 10. The Surety has the power to issue this guarantee under its Memorandum and Articles of Association and the person who is hereby executing this deed has the necessary powers to do so under the Power of Attorney granted to him by the Surety. SIGNED AND DELIVERED For and on behalf of For and on behalf of above named Bank. (Issuing Bank s Name and Seal) Branch Manager s signature Seal
Annex II Form of Bank Guarantee for Security Deposit (To be submitted on Non-judicial stamp paper of appropriate value purchased in the name of the issuing bank) No. Date To: The Regional Director Reserve Bank of India Issue Department Lucknow Dear Sir, In consideration of your agreeing to accept the Security Deposit of Indian Rs. 1,25,000/- (Rupees One lakh Twenty Five Thousand Only) to be furnished to you by M/S (hereinafter referred to as the Contractor ) in terms of their contract with you for Disposal of Shredded Currency Note Briquettes (compressed soiled notes)/ shreds in terms of their Tender dated 2018 and the conditions of the tender and other tender documents relating thereto, subject to the conditions and alterations mutually agreed upon and set forth or referred to in your Contract Agreement dated in the form of guarantee from us in the manner hereinafter contained, we (Name of the Bank) do keep you indemnified from time to time to the extent of Rs. 1,25,000/- (Rupees One lakh Twenty Five Thousand Only) against any loss or damage caused to or suffered by or that may be caused to or suffered by you by reason of any breach or breaches on the part of the Contractor of any of the term/s and / or condition/s contained in the said Contract Agreement and in the event of the Contractor making any default or defaults in carrying out any of the work under the said Contract Agreement or otherwise in the observance and performance of any of the terms and conditions relating thereto in accordance with the true intent and meaning thereof, we shall forthwith on demand pay to you such sum or sums not exceeding in total Rs. 1,25,000/- (Rupees One lakh Twenty Five Thousand Only) as may be claimed by you as your losses and/or damages, costs, charges or expenses by reason of such default on the part of the Contractor. 2. Notwithstanding anything to the contrary, your decision as to whether the Contractor has made any such default or defaults and the amount or amounts which you are entitled to be reimbursed by reasons thereof shall be binding on us and we shall not be entitled to ask you to establish your claim or claims under this Guarantee but will pay the same forthwith on your demand without any protest or demur. 3. This guarantee shall continue and hold good until it is released by you on the application by the Contractor after expiry of the relative guarantee period of the said
Contract Agreement and after the Contractor had discharged all his obligations under the said Contract Agreement and produced a certificate of due completion of the work under the said Contract Agreement and a No Dues Certificate, provided always that this guarantee shall, in no event, remain in force after the day of of year without prejudice to your claim or claims arisen and demanded from or otherwise notified to us in writing before the expiry of six months from the said date which will be enforceable against us notwithstanding that the same is / are enforced after the said date. 4. Should it be necessary to extend the period of this guarantee on account of any reason whatsoever, we undertake to extend the period of this guarantee on your request till such time as maybe required by you. Your decision in this respect shall be final and binding on us. 5. You shall have the fullest liberty, without affecting this guarantee, from time to time to vary any of the terms and conditions of the said contract or extend the time of performance of the Contractor or to postpone for any time or from time to time any of your rights or powers against the Contractor and either to enforce or forbear to enforce any of the terms and conditions of the said Contract and we shall not be released from our liability under this guarantee by the exercise of your liberty with reference to matters aforesaid or by reason of any time being given to the Contractor or any other forbearance, act or omission on your part or any indulgence by you to the Contractor or by any variation or modification of the said contract or any other act, matter or things whatsoever, which under the law relating to sureties would but for the provisions here of have the effect of so releasing us from our liability hereunder provided always that nothing herein contained will enhance our liability hereunder beyond the limit of Rs. 1,25,000/- (Rupees One lakh Twenty Five Thousand Only) as aforesaid. 6. This guarantee shall not in any way be affected by your taking or varying or giving up any securities from the Contractor or any other person, firm or company on its behalf or by the winding up, dissolution, insolvency or death as the case may be, of the Contractor. 7. In order to give full effect to the guarantee herein contained you shall be entitled to act as if we were your principal debtor in respect of all your claims against the Contractor hereby guaranteed by us as aforesaid and we hereby expressly waive all our rights of Surety-ship and other rights, if any, which are in any way inconsistent with any provision of this guarantee. 8. Subject to the maximum limit of our liability as aforesaid, this guarantee will cover all your claims against the Contractor from time to time arising out of or in relation to the said contract and in respect of which your claim in writing is lodged on us before expiry of six months from the date of expiry of this guarantee. 9. Any notice by way of demand or otherwise hereunder may be sent by special courier, telex, fax, electronic mail or registered post to our local address as aforesaid and if sent by post, it shall be deemed to have been given when the same has been posted.
10. This guarantee and the powers and provisions herein contained are in addition to and not by way of limitation of or substitution for any other guarantee or guarantees heretofore given to you by us (whether jointly with others or alone) and now existing un cancelled and that this guarantee is not intended to and shall not revoke or limit such guarantee or guarantees. 11. This guarantee shall not be affected by any change in the constitution of the Contractor or us, nor shall it be affected by any change in your constitution or by any amalgamation or absorption thereof or therewith but will ensure to the benefit of and be available to and enforceable by the absorbing or amalgamated company or concern. 12. Any forbearance, act or omission on the part of the Bank in enforcing any of the conditions of the said tender or showing of any indulgence by the Bank to the Tenderer shall not discharge the Surety in any way and the obligations of the Surety under this guarantee shall be discharged only on the intimation thereof being given to the Surety by the Bank. 13. This guarantee is irrevocable during the period of its currency and shall not be revoked without your previous consent in writing. 14. We further agree and undertake to pay you, without demur, the amount demanded by you in writing notwithstanding any difference or dispute or controversy that may exist or arise between you and contractor or any other person. 15. Notwithstanding anything contained herein above our liability under this guarantee is restricted to Rs. 1,25,000/- (Rupees One lakh Twenty Five Thousand Only). Unless a written claim is lodged on us for payment under this guarantee within six months from the date of expiry of the original validity or extensions granted, of this guarantee all your rights under the guarantee shall be forfeited and we shall be deemed to have been released and discharged from all liabilities thereunder, irrespective of whether or not the original guarantee is returned to us. 16. We have power to issue this guarantee in your favour under the Memorandum and Articles of Association of our bank and the undersigned has been duly authorised by the bank (bank issuing the Bank Guarantee) to execute this Guarantee Deed under the Power of Attorney granted to the undersigned. SIGNED AND DELIVERED (For & on behalf of the above named bank) For & on behalf of (Bankers Name & Seal) BRANCH MANAGER (Banker s Seal) Address: