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Tender Notice for Legal Due Diligence Report

EMBASSY OF INDIA,

TEL AVIV, ISRAEL

www.indembassyisrael.gov.in

Tender No. TEL/ADM/865/1/2015

Date: Wednesday, 20 November, 2019

 

Tender for appointing legal expert to obtain Legal Due Diligence Report in respect of an independent building proposed to be acquired by the Embassy of India in Tel Aviv.

Last date for submission of bids: Tuesday, 10 December 2019 at 1630 hours local time

No. TEL/ADM/865/1/2015

Embassy of India

Tel Aviv

NOTICE INVITING TENDER

Embassy of India, Tel Aviv, invites tender under single stage two-bid system from registered and authorized legal experts for preparing Legal Due Diligence Report, as per details given in the tender documents, in respect of an independent building proposed to be acquired by the Embassy of India in Tel Aviv.

 

2. The tender document can be downloaded from the websites – www. https://eprocure.gov.in/eprocure/app (Central Public Procurement Portal) or www.indembassyisrael.gov.in (Embassy of India, Tel Aviv, website) from 20.11.2019 onwards. No fee for the tender documents will be charged.

 

3. The interested service providers/firms have to submit the tenders in two-bid system [i.e. (i) Technical Bid and (ii) Financial Bid]. The Technical Bid and the Financial Bid should be sealed by the bidder in separate covers duly superscribed and both these sealed covers are to be put in a bigger cover which should also be sealed and duly superscribed. Bidder must ensure that all the necessary documents including those in support of eligibility criteria etc., are to be submitted along with the Technical Bid in one sealed envelope. The Financial Bid will be submitted in a separate sealed envelope. Tenders are to be submitted to Head of Chancery, Embassy of India, 140, Hayarkon Street, P.O. Box 3368, Tel Aviv. No tender documents will be accepted after the expiry of stipulated date and time for the purpose under any circumstances.

 

4. The Earnest Money Deposit (EMD) for NIS 500 (NIS Five hundred only) in the form of Account Banker’s cheque drawn in favour of Embassy of India, Tel Aviv, is required to be submitted along with tender bids from 21.11.2019 to 10.12.2019 between 1000 hrs to 1630 hrs on any working day. Bids shall not be considered in case the EMD is not submitted and would be rejected summarily. Bid securities of the unsuccessful bidders will be returned within 30 days after the award of the contract.

 

5. The Technical Bids will be opened on 11.12.2019 at 1600 hrs in the Embassy of India, 140 Hayarkon Street, Tel Aviv, by the Committee authorized by the Competent Authority of this office. The authorised representatives of the bidders shall be permitted to attend the bid opening. The financial bids of only those bidders whose Technical Bids are accepted shall be opened by the Committee authorized for the purpose in due course.

 

6. The Competent Authority reserves the right to reject any or all the bids without assigning any reason and the decision of the competent authority of the Ministry shall be final and binding.

Sd/- (Yadvendra Singh)

Head of Chancery

Tel No +972-03-6137341

TECHNICAL PROPOSAL SUBMISSION FORM

LETTER OF BID

Dated: December 2019

To,

Head of Chancery

Embassy of India

140, Hayarkon Street

P.O. Box 3368

Tel Aviv

Ref: Invitation for Bid No. TEL/ADM/865/1/2015 dated 20 November, 2019.

We, the undersigned, declare that:

We have examined and have no reservations to the bidding documents, including addenda issued in accordance with Instructions to Bidders.

 

2. We offer to execute in conformity with the bidding documents, for providing LEGAL DUE DILIGENCE REPORT of the independent building located in Tel Aviv.

 

3. Our bid shall be valid for a period of 180 days from the date fixed for the bid submission deadline in accordance with the Bidding Documents and shall remain binding upon us and may be accepted at any time before the expiry of the period.

 

4. If our bid is accepted, we commit to submit a Performance Security Deposit in accordance with the bidding documents.

 

5. We also declare that the Government of India or any other Government body has not declared us ineligible or blacklisted us on charges of engaging in corrupt, fraudulent, collusive or coercive practices or any failure/lapses of serious nature.

 

6. We also accept all the terms and conditions of this bidding document and undertake to abide by them, including the condition that you are not bound to accept highest ranked bid / lowest bid or any other bid that you may receive.

Yours sincerely,

Authorized Signatory

(Authorized person shall attach a copy of authorization for signing on behalf of bidding company)

Full Name and Designation

(To be printed on bidder's letterhead)

DATES TO REMEMBER

Sl.No.

Events

Date

Time

1

Notice inviting tender

20.11.2019

--

2

Starting date for submitting tender

21.11.2019

Between 1000 and 1630 hours

3

Last date of tender submission

10.12.2019

1630 hours local time

4

Opening of Technical Bids in the Embassy of India

11.12.2019

1600 hours

5

Opening of Financial Bids (of only those who qualify in the minimum eligibility criteria)

To be intimated

To be intimated

*****

SECTION 1: INSTRUCTIONS TO BIDDERS

1. Timeline for services to be provided

Upon award of the tender, the firm will have to provide the LEGAL DUE DILIGENCE REPORT within 14 days.

2. Release of Payment

Head of Chancery, Embassy of India, Tel Aviv

3. Amendment of Bidding Documents

At any time, prior to the deadline for submission of bids, Embassy of India, Tel Aviv may, for any reason, whether on its own initiative or in response to the clarification requested by a prospective bidder, modify the bid document.

 

4. Earnest Money Deposit (EMD)

 

a. The tender documents must be accompanied by Earnest Money Deposit of appropriate amount of Banker’s cheque from a commercial bank in favour of Embassy of India, Tel Aviv. The amount towards EMD is NIS 500 (NIS Five hundred only) and should be submitted in the sealed envelope. Bids submitted without EMD will stand rejected. EMD will not be accepted in the form of cash/cheque or any other form. No interest shall be payable on EMD.

b. The EMD will be returned to the bidder(s) whose offer is not accepted by Embassy of India, Tel Aviv within 30 days from the date of the placing of the final order(s) on the selected bidder(s).

c. The successful bidder, on award of contract/order, must send the contract/order acceptance in writing, within 7 days of award of contract/ order, failing which the EMD will be forfeited and the order will be placed to the next successful bidder.

d. The EMD shall be forfeited:

 If the bidder withdraws the bid during the period of bid validity specified in the tender.

 If the bidder fails to furnish the acceptance in writing, within 7 days of award of contract/ order.

 

 

5. Period of validity of bids

 

a. Bids shall be valid for a minimum 180 days from the date of submission of bids. A bid valid for a shorter period shall stand rejected.

b. Embassy of India, Tel Aviv may ask for the bidder’s consent to extend the period of validity. Such request and the response shall be made in writing only. The bidder is free not to accept such request without forfeiting the EMD. A bidder agreeing to the request for extension will not be permitted to modify his bid.

 

6. Submission of Bids

 

The Bid shall be neatly arranged, plain and intelligible. Each page of the bid should be signed. They should not contain any terms and conditions, printed or otherwise, which are not applicable to the Bid. The conditional bid will be summarily rejected. Insertions, postscripts, additions and alterations shall not be recognized, unless confirmed by bidder’s signature.

 

8. Late Bids

 

Any bid received by Embassy of India, Tel Aviv after the deadline for submission of bids, will not be accepted and returned unopened to the bidder.

 

9. AWARD OF CONTRACT

 

Award Criteria:

 

a. Embassy of India, Tel Aviv shall award the contract to the eligible bidder whose bid has been accepted and determined as the lowest evaluated bid.

b. The lowest price criteria shall be applied on the total.

c. If more than one bidder happens to quote the same lowest price, Embassy of India, Tel Aviv reserves the right to award the contract to any one bidder.

 

10. Purchaser’s Right to amend Scope of Work

 

If, for any unforeseen reasons, Embassy of India, Tel Aviv is required to change the Scope of Service, this change shall be acceptable to the bidder without change in the unit price quoted.

 

 

 

11. Interpretation of the clauses in the Tender Document/Contract Document

 

In case of any ambiguity/ dispute in the interpretation of any of the clauses in this Tender Document, Embassy of India, Tel Aviv’s interpretation of the clauses shall be final and binding on all parties.

 

12. The Embassy of India reserves the right to accept or reject any or all the Tenders without assigning any reasons whatsoever.

 

13. Details of property will be disclosed only to selected bidder.

 

SECTION 2: SPECIAL CONDITIONS OF CONTRACT

 

1. Prices

 

a. The price quoted shall be considered firm and no price escalation will be permitted during the period of the contract.

b. Bidders must quote the price in the format given in Price Schedule at Section 4 of this document.

c. All items are to be quoted only in Israeli Shekel.

d. The prices quoted should be exclusive of VAT but inclusive of all other applicable taxes and charges.

 

2. Payments:

 

Payment will be made in one lump sum amount upon furnishing of the LEGAL DUE DILIGENCE REPORT.

 

3. The tenderer shall submit documentary evidence in respect of their financial and technical capabilities as quoted by them.

 

4. The tenderer can submit only one tender; a tenderer who submits more than one tender will be disqualified.

 

5. Performance Bank Guarantee (PBG): The successful bidder will be required to furnish the Performance Guarantee in form of a Bank Guarantee @ 5% of the bid value within 7 working days of receipt of work Order, as per the format attached to this document (Annexure–3). This bank guarantee shall remain valid for 6 months beyond the completion of contract period.

 

6. Penalty for delayed Services:

 

a. Embassy of India, Tel Aviv reserves the right to levy liquidated damages @ of 0.5% per week for delay in submission of the LEGAL DUE DILIGENCE REPORT beyond the date intimated by the Mission to the firm, subject to maximum of 10% of tender value.

b. Embassy of India reserves the right to cancel the contract order in case the delay is more than 15 days.

c. Embassy of India reserves the right to revoke the contract at any time if the services rendered are not found satisfactory during the period of the Contract.

 

7. Force Majeure:

 

Embassy of India, Tel Aviv may consider relaxing the penalty and delivery requirements, as specified in this document, if and to the extent that, the delay in performance or other failure to perform its obligations under the contract is the result of any Force Majeure. Force Majeure is defined as an event of effect that cannot reasonably be anticipated such as acts of nature (like earthquakes, floods, storms etc), acts of states, the direct and indirect consequences of wars (declared or undeclared), hostilities, national emergencies, civil commotion and strikes at successful Bidder’s premises.

 

SECTION 3: GENERAL TECHNICAL SPECIFICATIONS

 

Firm should have overall good experience in legal and related services of 10 years in the field.

Firm should be of sound financial standing.

Firm must be based in Israel.

Firm must furnish proof of having undertaken similar legal due diligence for properties (at least three), the valuation of each property being NIS 50 million or more.

Firm should have well trained personnel for carrying out the work mentioned under the contract.

Firm should have valid Certificate of incorporation & VAT registration certificate from the concerned department.

Firm should give references of parties with regard to their previous work experience.

 

SECTION 4

 

Format for submitting the Price Schedule for providing LEGAL DUE DILIGENCE REPORT.

 

Tender No. TEL/ADM/865/1/2015 dated 20 November, 2019

 

Price Schedule

 

Job Title

Name of Firm

Address for correspondence

Contact details

Total Price

(NIS)

1

2

3

4

5

 

 

 

 

 

 

 

 

 

 

 

 

 

Note:

 

Above quoted prices for the work are complete in all respects as per the scope of work, inclusive of all taxes & other charges etc.

Certified that rates quoted are as per specifications, terms & conditions mentioned in the tender document.

 

Yours faithfully,

(Signature of Authorised Signatory)

Name & Designation: Company seal:

 

 

SECTION 5: DETAILS OF WORKS TO BE CARRIED OUT

Draft Scope of Work to do Legal Due Diligence

The land on which the property stands was purchased from Tel Aviv Land Authority and its lease is capitalized for another 20 years. The legal due diligence is required to verify the following:

Address, Block and Parcel Numbers of property

Property Registration

Status of land on which property is situated

If property not freehold, details of current lease and rights of lease renewal, and safeguarding all rights of Embassy in event of a purchase.

Advice on which of the two options will be more beneficial, capitalization of building rights after approximately 20 years or conversion to freehold.

Land use

Verification of ownership documents and lease deeds. Names of owners of property.

Current permits of building “as is”: building rights and permits, completion certificates, fire safety clearance

Completion certificates

Designated use of building today, zoning of building and zoning regulations.

Zoning of neighboring buildings

Future planning and zoning of current building as well as buildings in immediate area

Zoning for parking in immediate area

Legal Rights to construct additional space on site

Any liens on the property

Transfer rights.

Tax ramifications to purchase of the property including VAT etc.

Taxation and levies and eligible exemptions for the Embassy

Ensuring property has relevant permits from all relevant governmental and other authorities e.g. fire authorities, etc.

 

Annexure-1

NOTIFICATION OF AWARD

Contract No:

Date:

To: [Name of Contractor]

This is to notify you that your Tender dated [insert date] for the preparation of LEGAL DUE DILIGENCE REPORT for [name of project/Contract] for the Contract Price of NIS [Amount in figures and in words], as corrected and modified in accordance with the Instructions to Tenderer is hereby accepted by [name of Employer]. You are requested to proceed with the preparation of LEGAL DUE DILIGENCE REPORT on the basis that this Notification of Award shall constitute the formation of a Contract, which shall become binding upon you furnishing a Performance Security within seven (07) working days, and signing the Contract Agreement within 10 (10 days), we attach the Contract Agreement for your perusal and signature.

Signed

Duly authorised to sign for and on behalf of

[Name of Procuring Entity]

Date:

Annexure-2

CONTRACT AGREEMENT

THIS AGREEMENT made the [day] day of [month] [year] between the Embassy of India, 140 Hayarkon Street, P.O. Box 3368, Tel Aviv (hereinafter called “the Employer”) of the one part and [name and address of Contractor] (hereinafter called “the Contractor”) of the other part:

WHEREAS the Employer invited Tenders for preparation of Legal Due Diligence Report and has accepted a Tender by the Contractor for the execution of those works in the sum of NIS [Contract price in figures and in words] (hereinafter called “the Contract Price”).

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. In this Agreement words and expressions shall have the same meanings as are respectively assigned to them in the General Conditions of Contract hereafter referred to.

2. The documents forming the Contract shall be interpreted in the following order of priority:

a. the signed Contract Agreement;

b. the letter of Notification of Award

c. the completed Tender Submission Sheet as submitted by the Tenderer;

d. Scope of Work

3. In consideration of the payments to be made by the Employer to the Contractor as hereinafter mentioned, the Contractor hereby covenants with the Employer to execute and complete the Report and to remedy any defects therein in conformity in all respects with the provisions of the Contract.

 

4. The Employer hereby covenants to pay the Contractor in consideration of the execution and completion of the Legal Due Diligence Report and the remedying of defects therein, the Contract Price or such other sum as may become payable under the provisions of the Contract at the times and in the manner prescribed by the Contract.

 

5. The Contractor will maintain complete confidentiality with respect to contents of the Legal Due Diligence Report.

 

IN WITNESS whereof the parties hereto have caused this Agreement to be executed in accordance with the laws of Israel on the day, month and year first written above.

 

For the Employer: For the Contractor:

 

Signature

 

Print Name

 

Title

 

In the presence of

 

Name

 

Address

 

Annexure-3

TO,

HEAD OF CHANCERY

EMBASSY OF INDIA

140, HAYARKON STREET

P.O. BOX 3368, TEL AVIV (ISRAEL)

PERFORMANCE BANK GUARANTEE NO .................................. DATED ...............

FOR NIS (NIS ……………………………………………………………ONLY)

DATE OF EXPIRY :_________

 

EMBASSY OF INDIA, TEL AVIV (HEREINAFTER CALLED AS "EMBASSY OF INDIA") HAS ENTERED INTO PURCHASE ORDER NO. TEL/ADM/862/1/2015 (HEREINAFTER CALLED "THE SAID ORDER''), WITH ____________________(HEREINAFTER CALLED "THE SAID SUPPLIER") FOR _________________________________________.

 

WHERE AS UNDER THE TERMS OF THE SAID ORDER, THE SUPPLIER IS REQUIRED TO FURNISH A PERFORMANCE BANK GUARANTEE FOR NIS ( NIS ……………………….ONLY) TOWARDS THE DUE FULFILLMENT OF THE TERMS AND CONDITIONS DURING THE AGREED TIME PERIOD OR EXTENSION THEREOF, AND ALSO SATISFACTORY PREPARATION AND SUBMISSION OF THE LEGAL DUE DILIGENCE REPORT AS PER THE TERMS STIPULATED IN THE ORDER.

 

ACCORDINGLY WE, STATE BANK OF INDIA, TEL AVIV BRANCH (HEREINAFTER REFERRED TO AS "THE BANK") AT THE REQUEST OF…………………………….. DO HEREBY UNDERTAKE TO PAY TO EMBASSY OF INDIA AN AMOUNT NOT EXCEEDING NIS (NIS………………………… ONLY) ON THE FAILURE OF SUBMISSION OF SAID REPORT AS PER THE TERMS AND CONDITIONS OF THE ORDER.

 

WE, STATE BANK OF INDIA, TEL AVIV BRANCH DO HEREBY UNRESERVEDLY, IRREVOCABLY UNDERTAKE TO PAY THE AMOUNT DUE AND PAYABLE UNDER THIS GUARANTEE WITHOUT ANY DEMUR, MERELY ON DEMAND FROM EMBASSY OF INDIA WITHIN 10 DAYS OF RECEIPT BY US OF THE FOLLOWING DOCUMENTS :

I.) YOUR STATEMENT THAT THE AMOUNT CLAIMED IS DUE BY WAY OF NON- PERFORMANCE/UNSATISFACTORY PERFORMANCE BY THE SUPPLIER WITH RESPECT TO THE TERMS AND CONDITIONS OF THE ORDER .

II) YOUR STATEMENT THAT A NOTICE TO THIS EFFECT WAS SENT TO THE SUPPLIER 30 DAYS PRIOR TO THE DATE OF YOUR DEMAND

III) A COPY OF THE SAID NOTICE MENTIONED IN ITEM 2 ABOVE.

ANY SUCH DEMAND MADE ON THE BANK SHALL BE CONCLUSIVE AS REGARDS THE AMOUNT DUE AND PAYABLE BY THE BANK UNDER THIS GUARANTEE. HOWEVER OUR LIABILITY UNDER THIS GUARANTEE SHALL BE RESTRICTED TO AN AMOUNT NOT EXCEEDING NIS ( NIS ………………………..ONLY)

 

WE UNDERTAKE TO PAY TO AN AMOUNT NOT EXCEEDING NIS ( NIS ………………………..ONLY) SO DEMANDED NOTWITHSTANDING ANY DISPUTE OR DISPUTES RAISED BY THE SUPPLIER IN ANY SUIT OR PROCEEDING PENDING BEFORE ANY COURT OR TRIBUNAL RELATING THERETO, OUR LIABILITY UNDER THIS GUARANTEE BEING ABSOLUTE UNEQUIVOCAL.

 

WE, STATE BANK OF INDIA, TEL AVIV BRANCH FURTHER AGREE THAT THE GUARANTEE HEREIN CONTAINED SHALL REMAIN IN FULL FORCE AND EFFECT DURING THE PERIOD THAT WOULD BE TAKEN FOR THE PERFORMANCE OF THE SAID ORDER AND THAT IT SHALL CONTINUE TO BE ENFORCEABLE TILL ALL THE DUES OF EMBASSY OF INDIA UNDER OR BY VIRTUE OF THE SAID ORDER HAVE BEEN FULLY PAID AND ITS CLAIMS SATISFIED OR DISCHARGED OR TILL EMBASSY OF INDIA CERTIFIES THAT THE TERMS AND CONDITIONS OF THE SAID ORDER HAVE BEEN FULLY AND PROPERLY CARRIED OUT BY THE SAID SUPPLIER AND ACCORDINGLY DISCHARGES THIS GUARANTEE.

 

WE, STATE BANK OF INDIA, TEL AVIV BRANCH FURTHER AGREE WITH EMBASSY OF INDIA THAT EMBASSY OF INDIA SHALL HAVE THE FULLEST LIBERTY WITHOUT OUR CONSENT AND WITHOUT AFFECTING IN ANY MANNER OUR OBLIGATIONS HEREUNDER TO VARY ANY OF THE TERMS AND CONDITIONS OF THE SAID ORDER OR TO EXTEND TIME OF PERFORMANCE BY THE SAID SUPPLIER FROM TIME TO TIME OR TO POSTPONE FOR ANY TIME OR FROM TIME TO TIME ANY OF THE POWERS EXERCISABLE BY EMBASSY OF INDIA AGAINST THE SAID SUPPLIER AND TO FORBEAR OR ENFORCE ANY OF THE TERMS AND CONDITIONS RELATING TO THE SAID ORDER AND WE SHALL NOT BE RELIEVED FROM OUR LIABILITY BY REASON OF ANY SUCH VARIATION OR EXTENSION BEING GRANTED TO THE SAID SUPPLIER OR FOR ANY FORBEARANCE, ACT OR OMISSION ON THE PART OF EMBASSY OF INDIA OR ANY INDULGENCE BY EMBASSY OF INDIA TO THE SAID SUPPLIER OR BY ANY SUCH MATTER OR THING WHATSOEVER WHICH UNDER THE LAW RELATING TO SURETIES WOULD, BUT FOR THIS PROVISION HAVE EFFECT OF SO RELIEVING US.

 

WE STATE BANK OF INDIA, TEL AVIV BRANCH LASTLY UNDERTAKE NOT TO REVOKE THIS GUARANTEE DURING ITS CURRENCY EXCEPT WITH THE PREVIOUS CONSENT OF EMBASSY OF INDIA IN WRITING AND AGREE THAT ANY CHANGE IN THE CONSTITUTION OF THE SAID SUPPLIER OR THE SAID BANK SHALL NOT DISCHARGE THE BANK OF ITS LIABILITY UNDER THIS DEED.

 

THE VALIDITY OF BANK GUARANTEE SHALL BE UP TO ………… (I.E. EXPIRY DATE). THE BANK GUARANTEE SHALL REMAIN VALID FOR 2 YEARS BEYOND THE DATE OF SUBMISSION OF LEGAL DUE DILIGENCE REPORT.

 

THIS BANK GUARANTEE SHALL BE GOVERNED BY AND CONSTITUTE IN ACCORDANCE WITH INDIAN LAW AND SHALL BE EXCLUSIVE JURISDICTION OF INDIAN COURTS.

 

 

NOTWITHSTANDING ANYTHING CONTAINED HEREIN ABOVE

 

A. OUR LIABILITY UNDER THIS GUARANTEE SHALL NOT EXCEED NIS ( NIS ………………………..ONLY)

B. THIS BANK GUARANTEE IS VALID UPTO ……… (HEREINAFTER "EXPIRY DATE"). THE BANK GUARANTEE WILL CEASE TO BE VALID AFTER ………………… IRRESPECTIVE OF WHETHER THE ORIGINAL GUARANTEE IS RETURNED TO US OR NOT.

C. WE ARE LIABLE TO PAY THE GUARANTEED AMOUNT OR ANY PART THEREOF UNDER THIS BANK

GUARANTEE ONLY, AND ONLY IF YOU SERVE UPON US A WRITTEN DEMAND OR A CLAIM IN WRITING ON OR BEFORE ……………… (EXPIRY DATE) AT OUR COUNTERS ALONG WITH THIS ORIGINAL BANK GUARANTEE.

D. THIS GUARANTEE SHALL BE GOVERNED BY INDIAN LAW.

E. THIS BANK GUARANTEE IS GOVERNED, CONSTRUED AND SUBJECTED TO URDG 2010 REVISION ICC PUBLICATION NO. 758.

F. NOTWITHSTANDING ANYTHING CONTRARY CONTAINED IN ANY LAW FOR THETIME BEING IN FORCE OR BANKING PRACTICE, THIS GUARANTEE SHALL NOT BE ASSIGNABLE OR TRANSFERABLE BY THE BENEFICIARY. NOTICE OR INVOCATION BY ANY PERSON SUCH AS ASSIGNEE, TRANSFEREE OR AGENT OF THE BENEFICIARY SHALL NOT BE ENTERTAINED BY THE BANK. ANY INVOCATION OF GUARANTEE CAN BE MADE ONLY BY THE BENEFICIARY DIRECTLY.

UNQUOTE

IN CONSIDERATION OF YOUR ISSUING YOUR GUARANTEE AS REQUESTED ABOVE WE HEREBY ISSUE OUR COUNTER GUARANTEE FOR NIS ( NIS ………………………..ONLY)IN YOUR FAVOUR. WE HEREBY CONFIRM THAT OUR COUNTER GUARANTEE IN YOUR FAVOUR IS IRREVOCABLE AND UNCONDITIONAL AND THAT WE WILL ACCEPT AND HONOUR YOUR CLAIM ON RECEIPT OF YOUR FIRST DEMAND BY SIMPLE WORDED LETTER OR AUTHENTICATED SWIFT WITHOUT CONTESTATION BY OUR PRINCIPAL OR ANY OTHER PARTY AND IRRESPECTIVE OF ANY DISPUTE BETWEEN THE CONTRACTING PARTIES. OUR COUNTER GUARANTEE WILL REMAIN VALID UNTIL ………………. (HEREINAFTER THE COUNTER GUARANTEE 'EXPIRY DATE') AND ANY DEMAND BY YOU HEREUNDER MUST REACH US NOT LATER THAN ON THE EXPIRY DATE. DEMAND REACHING US AFTER THE EXPIRY DATE WILL NOT BE CONSIDERED.

OUR COUNTER GUARANTEE IS GOVERNED, CONSTRUED AND SUBJECTED TO THE UNIFORM RULES FOR DEMAND GUARANTEES (URDG) 2010 REVISION INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO.758.

FOR __________________________________ (Supplier)

AUTHORIZED SIGNATORY