DRAFT FORMAT FOR PERFORMANCE BANK GUARANTEE(PBG)-
National Level Vendor Registration
(To be on non-judicial stamp paper of appropriate value as per Stamp Act relevant to place of execution.)
Ref:
Bank Guarantee No:
Date: DD.MM.YYYY
To,
HoD (RTS Vendor Vertical Management),
REC Limited,
Plot No. I-4, Sector 29,
Gurugram, Haryana,
PIN-122001
In consideration of the [Insert name and address of the Vendor] (hereinafter referred to as
'Vendor') submitting the response to Office Memorandum issued by MNRE inter alia for
registration of the Vendor for the Project in response to the Office Memorandum No.
318/17/2024-Grid Connected Rooftop – Part (5) dated 07.05.2024, MNRE OM No.
318/17/2024-Grid Connected Rooftop-Part(5) dated 29.05.2024 and its subsequent
amendments issued by the MNRE and hereinafter referred and considering such response to the
MNRE’s Office Memorandum of [Insert the name of the vendor] as per the terms and
conditions of the Office Memorandum of MNRE and its subsequent amendments, the [Insert
name & address of Bank] hereby agrees unequivocally, irrevocably and unconditionally to pay
immediately to REC Limited (hereinafter referred to as REC) at: HoD (RTS Vendor Vertical
Management), REC Limited, Plot No. I-4, Sector 29, Gurugram, Haryana, PIN-122001
forthwith on demand in writing fromREC or any Officer authorized by it in this behalf, any
amount upto and not exceeding Rs. 25,00,000/- (Rs. Twenty Five Lakh only), on behalf of
M/s. [Insert name of the Vendor].
This guarantee shall be valid and binding on this Bank up Five (05) Years + Ninety (90) days
Claiming period from date of issuance of the BG and shall not be terminable by notice or any
change in the constitution of the Bank or the term of contract or by any other reasons whatsoever
and our liability hereunder shall notbe impaired or discharged by any extension of time or
variations or alternations made, given, or agreed with or without our knowledge or consent, by
or between parties to the respective agreement.
Our liability under this Guarantee is restricted to Rs. 25,00,000/- (Rs. Twenty Five Lakh only).
Our Guarantee shall remain in force until [Insert the Exact Date, completing on 5 Years
counting from Date of signing of BG] and REC shall be entitled to invoke this Guarantee till
[Insert the Exact Date, completing on 5 Years + 90 days counting from Date of signing of
BG].
The Guarantor Bank hereby agrees and acknowledges that the REC shall have a right to invoke
this BANK GUARANTEE in part or in full, as it may deem fit.
The Guarantor Bank hereby expressly agrees that it shall not require any proof in addition to
the written demand by REC, made in any format, raised at the Guarantor Bank, in order to make
the said payment to REC.
The Guarantor Bank shall make payment hereunder on first demand without restriction or
conditions and notwithstanding any objection by [Insert name of the Vendor] and/or any other
person. The Guarantor Bank shall not require REC to justify the invocation of this BANK
GUARANTEE, nor shall the Guarantor Bank have any recourse against REC in respect of any
payment made hereunder.
This BANK GUARANTEE shall be interpreted in accordance with the laws of India and the
courts at Delhi shall have exclusive jurisdiction. The Guarantor Bank represents that this BANK
GUARANTEE has been established in such form and with such content that it is fully
enforceable in accordance with its terms as against the Guarantor Bank in the manner provided
herein.
This BANK GUARANTEE shall not be affected in any manner by reason of merger,
amalgamation, restructuring or any other change in the constitution of the Guarantor Bank.
This BANK GUARANTEE shall be a primary obligation of the Guarantor Bank and
accordingly REC shall not be obliged before enforcing this BANK GUARANTEE to take any
action in any court or arbitral proceedings against the Bidder, to make any claim against or any
demand on the Bidder or to give any notice to the Bidder or to enforce any security held by
REC or to exercise, levy or enforce any distress, diligence or other process against the Bidder.
Notwithstanding anything contained hereinabove, our liability under this Guarantee is restricted
to Rs. 25,00,000/- (Rs. Twenty Five Lakh only) and it shall remain in force until [Insert the
Exact Date, completing on 5 Years counting from Date of signing of BG] with an additional
claim period of ninety (90) days thereafter. We are liable to pay the guaranteed amount or any
part thereof under this Bank Guarantee only if REC serves upon us a written claim or demand.
Signature:
Name:
For
[Insert Name of the Bank]
Banker's Stamp and Full Address.
Dated this day of _, 20
(Bank Contact Details & E Mail ID is to be provide for BG Confirmation)
Witness:
1. ……………………………………. 2. …………………………………….
Signature: Signature:
Name and Address: Name and Address:
DRAFT FORMAT FOR PERFORMANCE BANK GUARANTEE (PBG)
- Multi-State Level Registration
(To be on non-judicial stamp paper of appropriate value as per Stamp Act relevant to place of execution.)
Ref:
Bank Guarantee No:
Date: DD.MM.YYYY
To,
HoD (RTS Vendor Vertical Management),
REC Limited,
Plot No. I-4, Sector 29,
Gurugram, Haryana,
PIN-122001
In consideration of the [Insert name and address of the Vendor] (hereinafter referred to as
'Vendor') submitting the response to Office Memorandum issued by MNRE inter alia for
registration of the Vendor for the Project in response to the Office Memorandum No.
318/17/2024-Grid Connected Rooftop – Part (5) dated 07.05.2024, MNRE OM No.
318/17/2024-Grid Connected Rooftop-Part (5) dated 29.05.2024 and its subsequent
amendments issued by the MNRE and hereinafter referred and considering such response to the
MNRE’s Office Memorandum of [Insert the name of the vendor] as per the terms and
conditions of the Office Memorandum of MNRE and its subsequent amendments, the [Insert
name & address of Bank] hereby agrees unequivocally, irrevocably and unconditionally to pay
immediately to REC Limited (hereinafter referred to as REC) at: HoD (RTS Vendor Vertical
Management), REC Limited, Plot No. I-4, Sector 29, Gurugram, Haryana, PIN-122001
forthwith on demand in writing fromREC or any Officer authorized by it in this behalf, any
amount upto and not exceeding Rs. /- (Rs. Only), towards
Rs 2.5 Lakhs per State/UT on behalf of M/s. [Insert name of the Vendor].
This guarantee shall be valid and binding on this Bank up Five (05) Years + ninety (90) days
Claiming period from date of issuance of the BG and shall not be terminable by notice or any
change in the constitution of the Bank or the term of contract or by any other reasons whatsoever
and our liability hereunder shall notbe impaired or discharged by any extension of time or
variations or alternations made, given, or agreed with or without our knowledge or consent, by
or between parties to the respective agreement.
Our liability under this Guarantee is restricted to Rs. /- (Rs. only)
towards Rs 2.5 Lakhs per State/UT.
The Vendor has submitted this Bank Guarantee for registration in respect of operation in the
state(s) of [Insert name of the State(s)].
Our Guarantee shall remain in force until [Insert the Exact Date, completing on 5 Years
counting from Date of signing of BG] and REC shall be entitled to invoke this Guarantee till
[Insert the Exact Date, completing on 5 Years + 90 days counting from Date of signing of
BG].
The Guarantor Bank hereby agrees and acknowledges that the REC shall have a right to invoke
this BANK GUARANTEE in part or in full, as it may deem fit.
The Guarantor Bank hereby expressly agrees that it shall not require any proof in addition to
the written demand by REC, made in any format, raised at the Guarantor Bank, in order to make
the said payment to REC.
The Guarantor Bank shall make payment hereunder on first demand without restriction or
conditions and notwithstanding any objection by [Insert name of the Vendor] and/or any other
person. The Guarantor Bank shall not require REC to justify the invocation of this BANK
GUARANTEE, nor shall the Guarantor Bank have any recourse against REC in respect of any
payment made hereunder.
This BANK GUARANTEE shall be interpreted in accordance with the laws of India and the
courts at Delhi shall have exclusive jurisdiction. The Guarantor Bankrepresents that this BANK
GUARANTEE has been established in such form and with such content that it is fully
enforceable in accordance with its terms as against the Guarantor Bank in the manner provided
herein.
This BANK GUARANTEE shall not be affected in any manner by reason of merger,
amalgamation, restructuring or any other change in the constitution of the Guarantor Bank.
This BANK GUARANTEE shall be a primary obligation of the Guarantor Bank and
accordingly REC shall not be obliged before enforcingthis BANK GUARANTEE to take any
action in any court or arbitral proceedings against the Bidder, to make any claim against or any
demand on the Bidder or to give any notice to the Bidder or to enforce any security held by
REC or to exercise, levy or enforce any distress, diligence or other process against the Bidder.
Notwithstanding anything contained hereinabove, our liability under this Guarantee is restricted
to Rs. /- (Rs. only) towards Rs 2.5 Lakhs per State/UT
and it shall remain in forceuntil [Insert the Exact Date, completing on 5 Years counting from
Date of signing of BG] with an additional claim period of ninety (90) days thereafter. We are
liable to pay the guaranteed amount or anypart thereof under this Bank Guarantee only if REC
serves upon us a written claim or demand.
Signature:
Name:
For
[Insert Name of the Bank]
Banker's Stamp and Full Address.
Dated this day of _, 20
(Bank Contact Details & E Mail ID is to be provide for BG Confirmation)
Witness:
1. ……………………………………. 2. …………………………………….
Signature: Signature:
Name and Address: Name and Address:
