Specifications

60
NLUO PMC CONTRACTOR
SIGNATURE AND SEAL SIGNATURE AND SEAL SIGNATURE AND SEAL
(4) It is agreed by and between the parties to the said contract that the said bank guarantee may be furnished by us.
NOW THEREFORE THIS LETTER OF GUARANTEE WITNESSES that in consideration of the National Law University Odisha
on our request agreeing to advance a sum of Rs. ____________ (Rupees _________________ only) as a and by way of mobilization
advance subject to the terms and conditions as set out in the National Law University ODISHA ’s letter No. _____________ dated
______________ addressed to the Contractor, we the (Name of bank) hereby agree and undertake to the National Law University
ODISHA as follows:
(i) that the Contractors shall duly perform and discharge their obligations under the said contract to the full satisfaction of the
National Law University ODISHA and that they shall utilize the said mobilization advance exclusively for the purpose of
making preliminary construction of the aforesaid project for the National Law University Odisha at Kathajodi Campus,
Cuttack-753015, and for no other purpose.
(ii) that in case the Contractors do not repay principal amount or pay the interest on said advance on the due dates or do not present
their Running Bills for payment to the National Law University Odisha so that the National Law University Odisha is not in a
position to adjust the said advance from out of the bills payable to the contractors or the contractors fail to repay the said
advance or pay interest thereon or any part thereof on due dates or on demand, by the National Law University Odisha or on
the occurrence of any of the events specified in the said contract that may lead to the termination of the contract, we the (Name
of the bank) hereby guarantee and undertake to pay to the National Law University Odisha on demand without demur the said
sum of Rs.___________________ (Rupees ____________________ only) or such unadjusted portion thereof together with
interest @ ____________ % per annum accrued due thereon within a period of one week from the date of receipt of the
demand from the National Law University Odisha .
(iii) that any statement made by the National Law University Odisha and the amount mentioned in the demand notice given to us
shall not be called in question by us and shall be a conclusive proof regarding the amount that is payable by us under this
guarantee and that we shall not demand any proof thereof.
(iv) that we will make the payment pursuant to the demand notice issued by the National Law University Odisha , notwithstanding
any dispute that may exist or arise between the National Law University Odisha and the Contractors or any other person.
(v) that this guarantee shall not be revoked by us without prior consent in writing of the National Law University Odisha .