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(On non-judicial stamp paper of appropriate value and published in the name of executing bank)PROFORMA OF BANK GUARANTEE FOR CONTRACT PERFORMANCERef…………………..Date : ____________To,Indraprastha Power Generation Company Limited,Rajghat Power House,New Delhi-110 002.Dear Sirs,Bank Guarantee NO. ………….In the consideration of the Indraprastha Power Generation Company Limited/Pragati Power corporation Ltd (herein afterreferred to as the ‘Owner’ which expression shall unless repugnant to the context or meaning thereof includes its successors,administrators and assigns) having awarded to M/s _______________________ with its Registered/Head Office at_________________________________________ herein after referred to as contractor which expression shall unless repugnant to the context ormeaning, thereof include its successors, administrator, and assigns) a contract by issue of Owner’s letter of Intent No.___________ Dt. ______________ and the same having been unequivocally accepted by the contractor resulting into acontract bearing No. ______________ dt. ______________ valued at ______________________ for __________and thecontractor (scope of work) having agreed to provide a contract performance Guarantee for the faithful performance of theentire contract equivalent to*______________________________ % (percent) of the said value of the contract of the owner.We ______________________ (name & address) having its head office at __________ (a hereinafter referred to as the‘Bank’ which expression shall unless repugnant to the context or meaning thereof include its successors, administrator,executors and assigns) do hereby guarantee and undertake to pay the owner immediately on demand any or all money allpayable by the contractor to the extent of ________________ as aforesaid and any time up to____________(days/months/year) without any demur, reservation, recourse, contest or protest and or without any reference tothe Contractor. Any such demand made by the owner on the Bank shall be conclusive and binding, not withstanding, anydifference between the owner and the Contractor or any dispute pending before any court, Tribunal, Arbitrator or any otherauthority. The Bank undertakes not to revoke this guarantee during its currency without the previous consent of the owner andfurther agrees that the Guarantee herein contained shall continue to be enforceable till the owner discharges this Guarantee.The owner shall have the fullest liberty without affecting in any way the liability of the bank under this guarantee, from time toextend the time for performance of the contract by the Contractor. The owner shall have the fullest liberty without affecting thisguarantee to postpone from time to time the exercise of any powers vested in them or of any right which they might haveagainst the contractor, and to exercise the same at any time in any manner and either to enforce or to forebear to enforce anycovenants contained or implied in the contract between the owner & the contractor or any other course or remedy or securityavailable to the owner. The Bank shall not be released of its obligations under these presents by any exercise by the Ownerof its liberty with reference to matters aforesaid or any of the other indulgence shown by the owner or by any other matter orthing whatsoever which under law would but for this provision have the effect of relieving the Bank. The Bank also agrees thatthe Owner, at its option shall be entitled to enforce this Guarantee against bank as a Principal debtor in first instance withoutproceeding against the Contractor and notwithstanding any security or other Guarantee that the owner may have in relation tothe contractor’s liabilities.Notwithstanding anything, contained herein above, our liability under this guarantee is restricted to________________________ and it shall remain in force upto and including **________________ and shall be extendedfrom time to time for such period (not exceeding one year) as may be desired by M/s ___________________ on whose behalfthis Guarantee has been given.Dated this _______________ day of ____________ 200 ____at ________________.Witness _______________Name ___________Official Address___________________________(Signature)Name & Designation with Bank StampAttorney as per Power of AttorneyNo.Date :Bake Seal*The sum shall be ten percent 10% of the contract price.Validity of the Bank Guarantee should be 90 days in excess of the period which it is required.