Examples of BG in a sentence
In case final sale consideration is not paid within timeline, the liquidator shall forfeit EMD and or Performance BG.
In cases where cost of FIM exceeds the order value, Seller will submit the BG for the order value and insurance cover is taken by the Buyer for the balance amount through Nationalized Insurance Agency or their subsidiaries in favour of the Director of Lab/Estt.
Details of the Issuing BankName of the Bank Branch Name Branch Code IFSC Code E-mail Id Phone/Mobile No. Deal & Signature of the Bank Note: Whenever the bidder chooses to submit the Bid Security in the form of Bank Guarantee, then he should advise the banker issuing the Bank Guarantee to immediately send by Registered Post (A.D.) an unstamped duplicate copy of the Guarantee directly to the Purchaser with a covering letter to compare with the original BG for the correctness, genuineness, etc.
All Foreign sellers will require to furnish a Performance Cum Warranty bond by way of Banker' s Guarantee (BG) from seller' s Bank through an internationally recognised first class bank in favour of the Director, RCI Vignayanakancha, Hyderabad before release (in advance ) of Supply/Purchase Order for the amount of maximum of 10% of basic cost accepted during the CNC as a guarantee that he would perform the promised/contractual obligation as per the terms and conditions stipulated in the contract/SO.
The BG amount shall be allowed to be reduced every six months by an amount equal to the amount adjusted against running bills.