DOCUMENT D

EMPLOYER’S REQUIREMENTS
APPENDICES “4B” - PERFORMANCE BANK GUARANTEE FORMAT

“FORMAT” OF “PERFORMANCE SECURITY – DEMAND GUARANTEE”

To:
RADIAL IT PARK PVT LTD
No 7 & 8, 1st Floor, Pinnacle Building
International Tech Park Chennai,
CSIR Road, Taramani’
Chennai 600 113

Dear Sirs,

1. In consideration of (name of Employer) having its registered office at (address) (hereinafter

called “the Employer” which expression shall unless repugnant to the context or meaning
thereof, include its successors, administrators, executors and assigns) having awarded to
(name of Contractor) with its registered office at (address) (hereinafter called the “Contractor”
which expression shall unless repugnant to the context or meaning thereof, include its
successors, administrators, executors and assigns), a contract dated (date of contract)
(hereinafter called “the Contract”) and the same having been unequivocally accepted by the
Contractor for the execution and completion of _________________(hereinafter called “the
Works”) at Proposed “_____________________________________________ and the
remedying of defects therein, and the Contractor having agreed to provide a Performance
Security for the faithful performance of the entire Contract equivalent to ____% ( __________
percent) of the Accepted Contract Price, that is, for Rs _____ (Rupees ___________ Only)
(hereinafter called “the Guaranteed Amount”) to the Employer.

2. We, (name of Bank), having our registered office at (address) (hereinafter called “the Bank”
which expression shall unless repugnant to the context or meaning thereof, include its
successors, administrators, executors and assigns) at the request of the Contractor do hereby
guarantee and undertake to pay the Employer during the currency of the guarantee on written
demand any and all money payable by the Contractor to the extent of Rs _____ (Rupees
__________ Only) as aforesaid at any time up to (date) (hereinafter called “the Expiry Date”)
without any demur, reservation, contest, recourse or protest and/or without any reference to
the Contractor. Any such demand made by the Employer on the Bank shall be conclusive and
binding notwithstanding any difference between the Employer and the Contractor or any dispute
pending before any Court, Tribunal, Arbitrator or any other authority. The Bank undertakes not
to revoke this guarantee during its currency without prior consent of the Employer and further
agrees that the guarantee herein contained shall continue to be enforceable until the Employer
discharges this guarantee or until the Expiry Date, whichever is earlier.

3. The Employer shall have the fullest liberty without affecting in any way the liability of the Bank
under this guarantee from time to time to extend the time for performance of the Contract by
the Contractor. The Employer shall have the fullest liberty without affecting this guarantee, to
postpone from time to time the exercise of any of the powers vested in them or of any right
which they might have against the Contractor either to enforce or forbear from enforcing any of
the terms and conditions governing the Contract and the Bank shall not be released from its
liabilities under these presents by any exercise by the Employer of the liberty with reference to
matters aforesaid or by reason of time being given to the Contractor or any other forbearance
act or omission on the part of the Employer or any indulgence by the Employer to the Contractor
or of any other matter or thing whatsoever which under the law relating to guarantee would, but
for this provision, have the effect of so releasing the Bank from its liability.

4. The liability of the Bank to make payment to the Employer as stated hereinabove shall not be
discharged, released, affected or impaired in any way by reason of any one or more of the
following:

(a) Any dispute between the Employer and Contractor pending before any Court, Tribunal,
Arbitrator or any Authority;

Radial IT Park D/4/B/1

 DOCUMENT D
EMPLOYER’S REQUIREMENTS
APPENDICES “4B” - PERFORMANCE BANK GUARANTEE FORMAT

(b) Any suit or proceeding regarding the subject matter of the said Agreement;

(c) Insolvency, liquidation, winding up, dissolution or cessation of business by the

Contractor;

(d) Any negligence, omission or failure on the part of the Employer to commence any
proceeding against the Contractor; and

(e) Any concession, failure, time or leniency granted to the Contractor by the Employer.

5. The liability of the Bank under this guarantee shall not be discharged, released, affected or
impaired in any way by reason of any modification, amendment or variation in or to any of the
obligations, conditions or provisions of the Contract or the Works under the Contract or by
reason of any arrangement made between the Employer and the Contractor or by reason of
any breach or breaches of the Contract by the Employer or by the Contractor, whether the same
is or are made or occurs with or without the knowledge or consent of the Bank. The Bank further
agrees that no invalidity in the Contract nor its avoidance, suspension or termination shall
discharge, affect or impair its liability hereunder and that no waiver, compromise, indulgence or
forbearance, whether as to time, payment, performance or any other matter afforded by the
Employer to the Contractor under the Contract, shall discharge, affect or impair the liability of
the Bank hereunder.

6. The Bank also agrees that the Employer at its option shall be entitled to enforce this guarantee
against the Bank as a principal debtor, in the first instance without proceeding against the
Contractor and notwithstanding any security or other guarantee that the Employer may have in
relation to the Contractor’s liabilities.

7. The Bank hereby agrees without question to transfer the Guaranteed Amount to the Employer
herein on invocation of the Bank Guarantee unless Employer writes a letter to discharge the
Guaranteed Amount by certifying that the Contractor has fulfilled his obligations of payment of
the Performance Security amount to the Employer as required under the contract. Till then, the
rights of the Employer under this Guarantee against the Bank shall remain in full force and
effect.

8. This Guarantee shall not be affected by any change in the constitution of the Bank or Contractor
nor shall this Guarantee be affected by any change in the constitution of the Employer or any
amalgamation or absorption with any other body corporate and this Guarantee will be available
to or enforceable by such body corporate.

9. This Bank undertakes that this Guarantee shall be an irrevocable and a continuing Guarantee
and shall continue to be in force notwithstanding the discharge of the Contractor by operation
of law and shall cease only on payment in full to the Employer by the Bank of the amount hereby
guaranteed and on the claims of the Employer against the Contractor or any account
whatsoever being satisfied or until (date) whichever is earlier.

10. The Bank undertakes not to revoke this Guarantee during its currency except with the prior
written consent of the Employer.

11. Notwithstanding anything contained hereinabove:

(a) The Bank’s liability under this guarantee shall not exceed the Guaranteed Amount;

(b) This guarantee shall be valid up to the Expiry Date; and

(c) The Bank is liable to pay the Guaranteed Amount or any part thereof under this
guarantee only and only if the Employer serves upon the Bank a written claim or
demand on or before the Expiry Date.

Radial IT Park D/4/B/2

 DOCUMENT D
EMPLOYER’S REQUIREMENTS
APPENDICES “4B” - PERFORMANCE BANK GUARANTEE FORMAT

12. Any notice by way of request, demand or otherwise hereunder may be sent by hand or post to
the Bank addressed as aforesaid and if sent by post it shall be deemed to have been received
by the Bank at the time when it would be delivered in due course by post and in proving such
notice when given by post, it shall be sufficient to prove that the envelope containing the notice
was posted and a certificate signed by an officer of the Employer that the envelope was so
posted, shall be conclusive.

13. All payments under this Guarantee shall be made in Chennai. The Courts in Chennai only shall
have the exclusive jurisdiction and it is hereby specifically agreed that no other court shall have
jurisdiction to try any matter arising out of this Guarantee.

14. The Employer may require the Contractor to extend this guarantee if the performance certificate
under the Contract has not been issued by the date 28 days prior to such Expiry Date. The
Bank undertakes to pay the Employer such Guaranteed Amount upon receipt by the Bank,
within such period of 28 days, of the Employer’s demand in writing and the Employer’s written
statement that the performance certificate has not been issued, for reasons attributable to the
Contractor, and that this guarantee has not been extended.

Dated this _____ day of ____________________20___

AS WITNESS our hand

Signed by : __________________________

(Name and designation of officer)

for and on behalf of

____________________ ____________________________

(Name of Bank) (Signature)

in presence of:

Name : _________________________

Designation:______________________ ____________________________

(Signature of Witness)

Radial IT Park D/4/B/3