Performance Bank Guarantee (PBG). 2.5.1. The Performance Bank Guarantee furnished under this Agreement shall be for guaranteeing the successful commissioning of the Project for power up to the Contracted Capacity within the time specified in this Agreement.
Performance Bank Guarantee (PBG). (a) The lessee shall, for due and punctual performance of its obligations hereunder relating to the Project, deliver to EDMC, simultaneously with the execution of this Agreement, a bank guarantee from a scheduled bank, (“Performance Security”) for a sum equal to six months royalty quoted by the successful bidder.
Performance Bank Guarantee (PBG). 19.1 Contractor shall stand guarantee to the work for a period of 6 months from the date of installation of outfitting items as mentioned in the scope of work.
Performance Bank Guarantee (PBG). Original Clause Revised Clause
Performance Bank Guarantee (PBG). (a) The Successful bidder shall submit PBG of value equivalent to value 3% of the of the completed work and validity covering the guarantee period of the completed work against invoice in lieu of 3% payment retention valid for 12 months +one-month claim period on completion of the contract in the payment terms to avail 100% payment or to release the 3% retained payment against respective invoice.
Performance Bank Guarantee (PBG). Authorised Local Chemist shall have to furnish Performance Bank Guarantee valid for 6 month beyond empanelment (i.e. for 2 yrs 6 months) of signing of MoA to ensure efficient services, safeguard against any default and recovery if any:-
Performance Bank Guarantee (PBG). 19.1 The work should be guaranteed for the period of 12 months Post inspection clearance on board each yard.
Performance Bank Guarantee (PBG) a. Within 21 days of the date of issue of LOA, the contractor shall furnish a Performance Bond to BIRAC in the form of a bank guarantee drawn on bank/branch in India for 7.5% of the Contract Value. The estimated annualized contract value for purpose of PBG is Rs.3,50,000/- (annualized contract value). PBG should be valid for 90 days beyond the expiry of the contract. as per the format provided in Annexure-V. The proceeds of the Performance Bank Bond shall be payable to BIRAC as compensation for Contractor’s failure to perform and complete its obligations under the contract.
Performance Bank Guarantee (PBG). 11.1 Bidders selected by P&ED based on this RfS shall submit Performance Bank Guarantee for a value @ INR 7.50 lakh/ MW within 30 days of issuance of Letter of Intent (LoI) or before signing of PPA, whichever is earlier. It may be noted that successful Bidders shall submit the Performance Bank Guarantee according to the Format 7.3 B for a value @ INR 7.50 lakh/ MW with a validity period from the date of submission of the PBG until 21 months from the Effective Date of the PPA. On receipt and after successful verification of the total Performance Bank Guarantee in the acceptable form, the BG submitted towards EMD shall be returned by P&ED to the successful Bidder. Non submission of PBG within the above timelines shall be treated as follows:
Performance Bank Guarantee (PBG). PBG will be applicable for a period of 30 months from the date of dispatch of goods + claim period of 03 months, for a value equal to 10% of the basic value of the purchase order. It shall however be noted that PBG is not applicable against supply of Consumables (Gas Cylinders). Xxxxx Xxxxxx “H” of Instructions to Bidders. Also note that PBG should be in the format specified in Annexure-VII of ITB and no deviation to this format will be allowed. Note: In case PBG is not furnished, the 10% basic amount will be withheld from the supply invoice. This withheld amount will be paid either against submission of supplementary invoice & Original PBG (or) against supplementary invoice without PBG after expiry of Warranty period.
