Common use of Performance Guarantee Clause in Contracts

Performance Guarantee. The successful tender, here after referred to as the contractor shall pay in the form of “Performance Guarantee” at different rates for different slabs as stated below: Offer PG applicable % For premium, at par and rebate 0 to 12% PG= 0.92% x contract sum applicable for rebate of 12% For rebate of 12.01% P.G. = {0.92% x contract sum applicable for rebate of 12%} + (X) x contract sum where X= percentage rebate quoted more than 12% Note: Contract sum shall mean amount after application of rebate/ premium as quoted by the contractor with contingencies only and excluding price variation. The Performance Guarantee shall be paid in one of the following forms.

Performance Guarantee. The successful tender, here after referred to as the contractor shall pay in the form of “Performance Guarantee” at different rates for different slabs as stated below: Offer PG applicable % For premium, at par and rebate 0 to 12% PG= 0.92% x contract sum applicable for rebate of 12% For rebate of 12.01% P.G. = {0.92% x contract sum applicable for rebate of 12%} + (X) x contract sum where X= percentage rebate quoted more than 12% Note: Contract sum shall mean amount after application of rebate/ rebate/premium as quoted by the contractor with contingencies only and excluding price variation. The Performance Guarantee PG shall be paid in one of the following forms.

Performance Guarantee. The successful tenderbidder, here after referred to as the contractor shall pay in the form of “Performance Guarantee” at different rates for different slabs as stated below: Offer PG applicable % For premium, at par and rebate 0 to 12% PG= 0.92% x contract sum applicable for rebate of 12% For rebate of 12.01% P.G. = {0.92% x contract sum applicable for rebate of 12%} + +(X) x contract sum where X= percentage rebate quoted more than 12% Note: Contract sum shall mean amount after application of rebate/ rebate/premium as quoted by the contractor with contingencies only and excluding price variation. The Performance Guarantee shall be paid in one of the following forms.

Performance Guarantee. The successful tender, here after referred to as the contractor shall pay in the form of “Performance Guarantee” at different rates for different slabs as stated below: Offer PG applicable % For premium, at par and PG = 0.92% x contract sum rebate 0 to 12% PG= 0.92% x contract sum applicable for rebate of 12% For rebate of 12.01% and P.G. = {0.92% x contract sum above applicable for rebate of 12%} + (X) x contract sum where where, X= percentage rebate quoted more than 12% Note: Contract sum shall mean amount after application bid of rebate/ rebate/premium as quoted by the contractor with contingencies only and excluding price variation. The Performance Guarantee shall be paid in one of the following forms.