Bid Security Form

WHEREAS, __________[Name of Bidder]__________________(the Bidder) has submitted its

bid dated ___[Date]___for the construction of [ Give brief description of the Works]____.(the
Bid),

WE, ______[Name of Bank] having our registered office at . [Address] (The Bank) are bound
unto_______[Name of Tenderer]_____________________(the Tenderer) in the sum of
[Amount of guarantee in words and figures] , for which payment to be made to the said Tenderer,
the Bank binds itself, its successor and assigns, by these presents.

Sealed with the Common Seal of the Bank this ____day of __________, 20__.

The CONDITIONS of this obligation are:

1. if the Bidder withdraws its bid during the period of bid validity specified by the Bidder on the
Bid Form; or

2. if the Bidder, having been notified of the acceptance of its bid by the Tenderer during the
period of bid validity;

(a) Fails or refuses to execute the Contract Form, when requested, or

(b) Fails or refuses to furnish the performance security in accordance with the
Instructions to Bidders,

We undertake to pay the Tenderer up to the above amount, according to, and upon receipt of its
first written demand, without the Tenderer having to substantiate its demand, provided that in its
demand the Tenderer will note that the amount claimed by it is due to it owing to the occurrence
of one or both of the above stated conditions, specifying the occurred condition or conditions.

This guarantee will remain in force up to and including thirty (30) days after the period of bid
validity, and any demand in respect thereof should reach the Bank not later than such date..

[Name of Bank]

BY_____________________

[Title] Authorized Representative _________________________

[Signature of Witness]

Name of Witness: _____________________________

Address of Witness: ___________________________________