The Bank Guarantee Letter For Tender is a fundamental document in Indian tender processes, required when companies participate in various procurement or project bids. This financial instrument is issued by banks under the regulatory framework of the Reserve Bank of India and Indian banking laws, providing security to tender issuing authorities against potential default or withdrawal by bidders. The guarantee typically amounts to 1-5% of the tender value and remains valid throughout the tender evaluation period. It includes crucial details such as the guarantee amount, validity period, beneficiary details, and invocation conditions. The document is essential for participating in government, public sector, and private sector tenders in India, where it serves as a risk mitigation tool for tender issuers while enabling broader participation in bidding processes.
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1. Bank Details and Reference Number: Bank's name, branch details, and unique guarantee reference number
2. Beneficiary Details: Complete name and address of the tender issuing authority
3. Tender Reference: Specific details of the tender including tender number and description
4. Guarantee Amount: The specific amount of guarantee in figures and words
5. Customer/Bidder Details: Complete details of the party on whose behalf the guarantee is being issued
6. Guarantee Terms: Core terms including validity period, claim period, and invocation conditions
7. Purpose Declaration: Clear statement of the guarantee's purpose regarding the specific tender
8. Bank's Undertaking: Specific commitment by the bank to pay upon valid demand
9. Invocation Conditions: Detailed conditions under which the guarantee can be invoked
10. Expiry and Claims Period: Clear specification of validity period and deadline for claims
11. Governing Law and Jurisdiction: Applicable law and jurisdiction for dispute resolution
1. Extension Clause: Used when there's a possibility of tender evaluation period extending beyond initial validity
2. Multiple Bank Clause: Required when the guarantee is issued jointly by multiple banks
3. Stamp Duty Declaration: Required in states with specific stamp duty requirements for bank guarantees
4. Digital Signature Clause: Required when the guarantee is being issued in electronic format
5. Force Majeure Clause: Optional protection against unforeseen circumstances, if allowed by tender terms
6. Assignment Restriction: Added when transfer of guarantee rights needs to be explicitly restricted
1. Specimen Signature Verification: Authorized signatures of bank officials who can execute the guarantee
2. Tender Details Annexure: Detailed description of the tender requirements and specifications
3. Board Resolution: Copy of board resolution authorizing the guarantee (if customer is a company)
4. Bank's Power of Attorney: Document authorizing bank officials to execute guarantees
5. Demand Format: Prescribed format for making claims under the guarantee
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Construction and Infrastructure
Government and Public Sector
Manufacturing
Energy and Utilities
Telecommunications
Defense
Healthcare
Transportation and Logistics
Information Technology
Real Estate Development
Relevant Teams
Legal
Finance
Treasury
Procurement
Business Development
Compliance
Risk Management
Banking Operations
Project Management
Bid Management
Relevant Roles
Tender Manager
Bid Manager
Chief Financial Officer
Finance Manager
Bank Relationship Manager
Procurement Officer
Contract Administrator
Treasury Manager
Legal Counsel
Company Secretary
Project Manager
Business Development Manager
Risk Manager
Compliance Officer
Banking Operations Manager
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