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The Bid Bond Tender Guarantee is a crucial document in Saudi Arabia's public procurement process, required under the Government Tenders and Procurement Law (GTPL) and its Implementing Regulations. This financial instrument is mandatory for most government tenders and serves to protect the tender process integrity by ensuring serious participation from bidders. The guarantee, typically issued by a Saudi-licensed bank, must be unconditional, payable on first demand, and comply with Shariah principles. It's particularly important in the context of Saudi Arabia's Vision 2030, which has led to increased government procurement activities and major development projects. The document specifies the tender details, guarantee amount, validity period, and the bank's commitment to pay upon the beneficiary's first demand. The guarantee amount usually ranges from 1-2% of the tender value, though this may vary based on the project's nature and the procuring entity's requirements.

1. Bank Details and Reference: Identification of the issuing bank, guarantee number, and date of issuance

2. Beneficiary Information: Full details of the government entity or organization requesting the bid bond

3. Principal Information: Complete details of the bidder/contractor on whose behalf the guarantee is issued

4. Tender Details: Specific information about the tender including tender number, project name, and submission deadline

5. Guarantee Amount: The exact amount of the guarantee in both numbers and words, including currency

6. Validity Period: Clear statement of the guarantee's effective date and expiry date

7. Guarantee Terms: Core terms stating the bank's unconditional obligation to pay upon first written demand

8. Governing Law and Jurisdiction: Specification of Saudi Arabian law as governing law and relevant courts' jurisdiction

9. Bank Signature and Stamp: Authorized signatures, bank stamp, and authentication requirements