Form of Bid Security (Bank Guarantee)

Section IV. Bidding Forms
Form of Bid Security (Bank Guarantee)
[Insert Bank’s Name, and Address of Issuing Branch or Office]
Millennium Challenge Account Namibia
117 Sam Nujoma Drive
P.O. Box 23005
[Inset date]
Bid Guarantee No.:
[Insert Bid Guarantee Reference Number]
We have been informed that [name of the Bidder] (hereinafter called "the Bidder") has submitted to
you its Bid dated (hereinafter called "the Bid") for the execution of [name of contract] under
Invitation for Bids No. [IFB number] (“the IFB”).
Furthermore, we understand that, according to your conditions, Bids must be supported by a Bid
At the request of the Bidder, we [name of Bank] hereby irrevocably undertake to pay you any sum
or sums not exceeding in total an amount of [amount in figures] ([amount in words]) upon receipt
by us of your first demand in writing accompanied by a written statement stating that the Bidder is
in breach of its obligation(s) under the Bid conditions, because the Bidder:
has withdrawn its Bid during the period of Bid validity specified by the Bidder in the Form of
Bid; or
having been notified of the acceptance of its Bid by the Employer during the period of Bid
validity, (i) fails or refuses to execute the Contract, or (ii) fails or refuses to furnish the
performance security, in accordance with the Instructions to Bidders and the Contract.
This guarantee will expire: (a) if the Bidder is the successful Bidder, upon our receipt of copies of the
Contract signed by the Bidder and the performance security issued to you upon the instruction of
the Bidder; or (b) if the Bidder is not the successful Bidder, upon the earlier of (i) our receipt of a
copy of your notification to the Bidder of the name of the successful Bidder; or (ii) twenty-eight (28)
days after the expiration of the Bidder’s Bid.
Consequently, any demand for payment under this guarantee must be received by us at the office
on or before that date.
This guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 758.