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Standard Request For Proposal (National) For Selection of Consulting Firm

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9 views

Extract

Standard Request For Proposal (National) For Selection of Consulting Firm

Uploaded by

zx32rfm
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Standard Request for Proposal Document PS7

Appendix 6 Bank Guarantee for Advance Payments

[this is the format for the Advance Payment Security to be issued by a


scheduled Bank
of Bangladesh in accordance with GCC Clause 50.1]

Contract No: Date:

To:

[Name and address of Client]

ADVANCE PAYMENT GUARANTEE No:

We have been informed that [name of Consultant] (hereinafter called “the


Consultant”) has undertaken, pursuant to Contract No [reference number of
Contract] dated [date of Contract] (hereinafter called “the Contract”) for the
delivery of [description of consulting services] under the Contract.

Furthermore, we understand that, according to GCC Sub Clause 51.1, Advance


Payment(s) on Contracts must be supported by a Bank Guarantee.

At the request of the Consultant, we [name of Bank] hereby irrevocably


unconditionally undertake to pay you, without cavil or argument, any sum or sums
not exceeding in total an amount of Tk [insert amount in figures and in words] upon
receipt by us of your first written demand accompanied by a written statement that
the Consultant is in breach of its obligation(s) under the Contract conditions,
without you needing to prove or show grounds or reasons for your demand of the
sum specified therein.

We further agree that no change, addition or other modification of the terms of the
Contract to be performed, or of any of the Contract documents which may be
made between the Client and the Consultant, shall in any way release us from
any liability under this guarantee, and we hereby waive notice of any such change,
addition or modification.

This guarantee is valid until [date of validity of guarantee], consequently, we must


receive at the above-mentioned office any demand for payment under this
guarantee on or before that date.

Signature Signature

2017-08-02-18-54-52-SRFP_PS7-_104.docx 68

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