You are on page 1of 2

Central/State PSUs/Departments forthe supply of Goods and / or Services as clcrirred in the said contract.

According to the conditions of the Contract, a performance security is requiruct to be furnished by the
Seller to the Beneficiary for due performance of the contract.

1.At the request of the Applicant, we as Guarantor, hereby irrevocably undertake to pay the Beneficiary
any sum or sums not exceeding in total an amount of 7,589.00(Seven Thousand Five Hrryrdred And Eighty
Nine Rupees only), upon receipt by us of the Beneficiary's demand stating that the Applicant is in breach
of its obligation(s) under the Contract, without the Beneficiary needing to provu. or to show grounds for
your demand or the sum specified therein.

2. We do hereby undertake to pay the amount due and payable under this Guararrtee without any
our merely on a demand from the Beneficiary / Government. Any such demand rrrade on the Bank shall be
conclusive as regards the amount due and payable by the Bank under this Guarantee. However, our
liability under this guarantee shall be restricted to an amount not exceeding Rs. ;.589.00(Seven Thousand
Five Hundred And Eighty Nine Rupees only )

4 We undertake to pay the Governtnent any money so demanded not withstandirrt; any dispute or disputes
i'aised by Seller(s)in any suit or proceeding pending before any Court or Tribunal relating thereto liability
urider this present being absolute and unequivocal.

5.The payment so made by us under this Bond shall be a valid discharge of oi:r Iiability for payment
thereunder and the Seller (s) shall have no claim against us for making such pa)/inent.

6' We further agree that the Guarantee here in contained shall remain in full force and effect during the
period that would be taken for the performance of the said Contract including Guarantee/ Warrantee period
and that it shall continue to be enforceable till all the dues of the Government uncier or by virtue of the said
Contract have been fully paid and its claims satisfied or discharged.

7. We further agree with Government that the Government shall have the fullest liilerty without our consent
and without affecting in any manner our obligations hereunder to vary any of the terms and condition of the
said Contractor to extend time of performance by the said Seller(s) from time r,,, time or to postpone any
time or from time to time powers exercisable by the Government against the saiu Seller(s) and to forbear or
enforce any of the terms and condition relating to the said Contract and we shair not be relieved from our
liability by reason of any such variation, or only extension being granted to tne said Seller(s) or for any
forbearance, act or omission on the part of the Government or any indulgence Dy the Government to the
said Seller(s) or by any such matter or thing whatsoever which under the law r"e.lating to sureties would,
but for this provision, have effect of so relieving us.

8. Notwithstanding anything contained herein above our liability under the Guarrntee is restricted to Rs,
7,589.00(Seven Thousand Five Hundred And Eighty Nine Rupees only) for ono year from 25t08t2022 to
2410812023 and shall remain in force upto 31t12t2023.

9. This Guarantee will not be discharge due to be change in the constitution of tlre Bank or the Seller
(s).

10. We lastly undertake not to revoke this Guarantee during its currency except v;rth the previous consent
ot the Government in writing.

7or Kranthl Co-op. Urban BanI Lt&


t a12_
G-,- 9===--=,-
Itlanager

3 page
''d
11. Be completely discharge and all your rights underthe guarantee shall stand extinguished if no claim
or demand is made upon us in writing and received by us with one month from 24t0g12022 which shall
come to end on 3111212023(inctuding grace period).

,or f,ranthl Co. op. Urban Bank


Lro
the Krsnthi Co-operotiue Urbon Bunk-Ltd.
Dated .2510812022
lrr-l"c-r'bq Hdtliommt Gomplex, Main Roud'

Bo Io ncsu r, Hyderabud-5o0 0] 1 JtlillTl;"


";;;G;;inzv4,z3n72l5,'TJ,Y.?.?.
Date the itame of the Bank)
Name of the Officer: K Soma Sekhar
Designari'ue : Branch Manager
Code : EvlP No.04
Name of the Bank and Branh

\
Ma i I : kc Lr b1-0p-01Qkr-anth i b. an k. i n
kc r trcredit@kra nthiban k.in

You might also like