FORM OF TENDER SECURITYBrief description of Subcontract Name and address of Beneficiary (whom the tender documents define as the Employer together with its legal successors in title and assigns).We have been informed that ............................................................................................(hereinafter called the "Principal") is submitting an offer for Subcontract in response to your invitation, and that the conditions of your invitation (the "conditions of invitation", which are set out in a document entitled Instructions to Tenderers) require his offer to be supported by a tender security.At the request of the Principal, we (name of Bank)................................hereby irrevocably undertake to pay you, the Beneficiary/Employer, any sum or sums not exceeding in total the amount of.........................................(say: ..........................) upon the receipt by us of your demand in writing and your written statement (in the demand) stating that: (a) The Principal has, without your agreement, withdrawn his offer after the lastest time specified for its submission and before the expiry of its period of validity, or(b) The Principal has refused to accept the correction of errors in his offer in accordance with conditions of invitation, or(c) You awarded the Subcontract to the Principal and he has failed to comply with sub-clause 1.9 of the conditions of the Subcontract, such conditions being the Conditions of Subcomtract for Construction for Building and Engineering Works designed by the Employer issued by the Federation Internationale des Ingenieurs-Conseils (First Edition 2011), or(d) You awarded the Subcontract to the Principal and he has failed to comply with sub-clause 4.2 of the conditions of the Subcontract.Any demand for payment must contain the signature(s) of your authorized representatives which must be authenticated by your bankers or by a notary public. The authenticated demand and statement must be received by us at this office on or before (the date 120 days after the expiry of the validity of the Letter of Subcontractor’s Offer).........................., when this guarantee shall expire and shall be returned to us.This guarantee shall be governed by the laws of...........................and subject to the Uniform Rules for Demand Guarantees, published as number 758 by the International Chamber of Commerce, except as stated above.
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