Hi I would like to have the information about the Bank Guarantee clause for the tenders issued by Defence Research & Development authority?

Generally many clauses are included when a notification is issued by Defence Research & Development authority inviting tenders for different activities.

One of them is the Performance Bank Guarantee (PBG) which is included as per the tenders invited.

For E.g. There was a tender issued by DRDO, The Director Aeronautical Development Establishment, New Thippasandra, Bangalore - 560 075. On behalf of
President of India invites sealed tender under Single bid system in Indian Rupees for supply of Safety Ohm Meter, Measurement range 2m ohm to 20K ohm.

The Performance Bank Guarantee (PBG) included was as given below:

“Performance Bank Guarantee for 10% of the order value towards warranty to be submitted at the time submission of 100% Bills”.

Performance Bank Guarantee Format