FORM TECH-4
Form of Bid Security
BANK OF BARODA, MANJULA K-5 , NEAR 8 RASTA SQUARE LAXMI NAGAR,
NAGPUR
Beneficiary: WE – The Working Elements, Nagpur
To
Managing Director,
Rajasthan Samwad, Government Secretariat, Jaipur-
302 005
Date: 12/11/2024
GUARANTEE No.:________
We have been informed that WE- The Working Elements hereinafter called "the
Bidder") has submitted to you its Proposal dated 24/10/2024 (hereinafter called "the
Proposal") for Empanelment of Event and Activity Management Agencies Proposals
No.138.
Furthermore, we understand that, according to your conditions, Proposals must be
supported by a Bid Security.
At the request of the Bidder, we Bank Of Baroda hereby irrevocably undertake to pay you any
sum or sums not exceeding in total an amount of 2000000 (Twenty Lakhs Only) upon receipt
by us of your first demand in writing accompanied by a written statement stating that the
Bidder is in breach of its obligatory(s) under the Proposal conditions, without indulging in any
correspondence or questions with you, because the Bidder:
a)has withdrawn its Proposal during the period of Proposal validity specified by the
Bidder in the Form of Proposal; or
b)having been notified of the acceptance of its Proposal by the RAJASTHAN
SAMWAD, Jaipur during the period of Proposal validity,
(i)failed or refused to execute the Contract Form,
(ii)did not accept the correction of errors in accordance with the ITB, or
(iii)breached any provision of the Code of Integrity specified in ITB;
This guarantee will expire: (a) if the Bidder is the successful Bidder, upon our receipt of
copies of the contract signed b., the Bidder and the performance security issued to you upon
the instruction of the Bidder; and (b) if the Bidder is not the successful Bidder, upon the
earlier of (i) our receipt of a copy of your notification to the Bidder of
the name of the successful Bidder who Signed the contract with you and sub miffed
performance security; or (ii) thirty days after the expiration of the validity period of the
Bidder's Proposal.
Consequently, any demand for payment under this guarantee must be received by us at the
office on or before that date.
The Guarantor has power to issue this guarantee and discharge the obligations contetriplated
herein, and the undersigned is duly authorised to execute this Guarantee pursuant to the
power granted under_________
Name_______________________________________________________________________
In the capacity of _____________________________________________________________
Signed _______________________________________________________________________
Duly authorized to sign the Bid Security for and on behalf of _ ________________________
Date
Bank's Seal
