GAIL (India) Limited MECON LIMITED

To,(Beneficiary)F-4AFORMAT FOR LETTER OF CREDIT FOR BID SECURITY(In case of Foreign Bidder)GAIL (India) Limited______________________________________Irrevocable and confirmed Letter of Credit No. ______________________Amount : Rs./ US$Validity of this Irrevocable : ______________________________ (in India)Letter of Credit(2 months beyond validity of offer)Dear Sir,You are here by authorized to draw on _______________ (Name of Applicant with full address) for asum not exceeding ____________________ available by your demand letter (draft) on them at sightdrawn for ____________________ Rs./ US$ accompanied by a certificate by GAIL (India) Ltd., with theTender No. duly incorporated therein, that one or more of the following conditions has/ have occurred,specifying the occurred condition(s) :(i)(ii)(iii)The bidder withdraws its Bid during the period of Bid validity or any extension thereof dulyagreed by the Bidder.The Bidder varies or modifies its Bid in a manner not acceptable to GAIL (India) Ltd. during theperiod of bid validity or any extension thereof duly agreed by the Bidder.The Bidder, having been notified of the acceptance of its Bids,(a) Fails or refuses to execute the supply order/ contract(b) Fails or refuses to furnish the Contract Performance Security within 30 days beforeexpiry of bid Security.(c) Fails to accept arithmetic corrections as per tender conditions.2. This Irrevocable Letter of Credit has been established towards Bid Security Tender No.____________________ for ____________________ (item).3. We hereby guarantee to protect the Drawers, Endorsers and bonafide holders from anyconsequences which may arise in the event of the non-acceptance or non-payment of DemandLetter (draft) in accordance with the terms of this credit.4. This Credit is issued subject to the Uniform Customs and Practices for Documentary Credits(1993 Revised) International Chamber of Commerce brochure No. 500.5. Please obtain reimbursement as under : _______________________________________6. All foreign as well as Indian bank charges will be on the account of M/s ______________________________________________ (Applicant)Counter SignatureFOR _____________________Authorised Signature(Original Bank)\\Rajesh\RAJESH\Cavery\Tender\Construction Tender-Vol - I of II.doc