Securities. 58.1 The Performance Security, including any additional security required as per ITB 32.5 and ITB 37.1, shall be provided to the Employer no later than the date specified in the Letter of Acceptance and shall be issued in an amount specified in the SCC, by a Commercial Bank or Financial Institution eligible to issue Bank Guarantee as per prevailing Law acceptable to the Employer, and denominated in Nepalese Rupees. The Performance Security shall be valid until a date 30 days from the date of issue of the Defect Liability Certificate in the case of a bank guarantee. Any additional performance security required as per ITB 32.5 shall be valid until a date 30 days from the date of issue of the certificate of Completion in the case of a bank guarantee. Any additional performance security required as per ITB 37.1 shall be valid until a date 30 days from the date of issue of the certificate of DLP in the case of a bank guarantee. 58.2 The performance security issued by any foreign Bank outside Nepal must be counter guaranteed by an Commercial Bank or Financial Institution eligible to issue Bank Guarantee as per prevailing Law in Nepal. 59.
