Common use of Notes on Standard Forms Clause in Contracts

Notes on Standard Forms.  Bidders shall submit the completed Form of Bid Security as appropriate in compliance with the requirements of the bidding documents.  Bidders should not complete the Form of Agreement at the time of preparation of bids.  The successful bidder will be required to sign the Form of Agreement, after the award of contract.  Any corrections or modifications to the accepted bid resulting from arithmetic corrections, acceptable deviations, or quantity variations in accordance with the requirements of the bidding documents should be incorporated into the Agreement.  The Form of Performance Security, Form of Advance Payment Security and Form of Retention Money Guarantee should not be completed by the bidders at the time of submission of bids. [This Guarantee form shall be filled in accordance with the instructions indicated in brackets] Beneficiary: Chairman, Sri Lanka Land Reclamation & Development Corporation No. 03, Sri Jayawardenapura Mawatha, Welikada, Rajagiriya Date: [insert (by issuing agency) date] BID GUARANTEE NO.: [insert by issuing agency) number]We have been informed that [insert (by Issuing Agency) name of the Bidder] (hereinafter called “the Bidder”) has submitted to you its bid dated [insert (by issuing agency) date] hereinafter called “the Bid”) for the execution of [insert name of Contract] under Invitation for Bids No. [insert IFB number](“the IFB”). Furthermore, we understand that, according to your conditions, Bids must be supported by a Bid Guarantee. At the request of the Bidder, we [insert name of issuing agency] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [insert amount in figures] [insert amount in word] 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:

Notes on Standard Forms.  Bidders shall submit the completed Form of Bid Security as appropriate in compliance with the requirements of the bidding documents.  Bidders should not complete the Form of Agreement at the time of preparation of bids.  The successful bidder will be required to sign the Form of Agreement, after the award of contract.  Any corrections or modifications to the accepted bid resulting from arithmetic corrections, acceptable deviations, or quantity variations in accordance with the requirements of the bidding documents should be incorporated into the Agreement.  The Form of Performance Security, Form of Advance Payment Security and Form of Retention Money Guarantee should not be completed by the bidders at the time of submission of bids. [This Guarantee form shall be filled in accordance with the instructions indicated in brackets] [insert issuing agency’s name, and address of issuing branch or office] Beneficiary: Chairman, Sri Lanka Land Reclamation & Development Corporation No. 03, Sri Jayawardenapura Mawatha▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, Welikada, Rajagiriya Date: [insert (by issuing agency) date] BID GUARANTEE NO.: [insert by issuing agency) number]We have been informed that [insert (by Issuing Agency) name of the Bidder] (hereinafter called “the Bidder”) has submitted to you its bid dated [insert (by issuing agency) date] hereinafter called “the Bid”) for the execution of [insert name of Contract] under Invitation for Bids No. [insert IFB number](“the IFB”). Furthermore, we understand that, according to your conditions, Bids must be supported by a Bid Guarantee. At the request of the Bidder, we [insert name of issuing agency] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [insert amount in figures] [insert amount in word] 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:

Notes on Standard Forms.  Bidders shall submit the completed Form of Bid Security as appropriate in compliance with the requirements of the bidding documents.  Bidders should not complete the Form of Agreement at the time of preparation of bids.  The successful bidder will be required to sign the Form of Agreement, after the award of contract.  Any corrections or modifications to the accepted bid resulting from arithmetic corrections, acceptable deviations, or quantity variations in accordance with the requirements of the bidding documents should be incorporated into the Agreement.  The Form of Performance Security, Form of Advance Payment Security and Form of Retention Money Guarantee should not be completed by the bidders at the time of submission of bids. [This Guarantee form shall be filled in accordance with the instructions indicated in brackets] Beneficiary: ChairmanGeneral Manager, Sri Lanka Land Reclamation & Development Corporation No. 03, Sri Jayawardenapura Mawatha, Welikada, Rajagiriya Date: [insert (by issuing agency) date] BID GUARANTEE NO.: [insert by issuing agency) number]We have been informed that [insert (by Issuing Agency) name of the Bidder] (hereinafter called “the Bidder”) has submitted to you its bid dated [insert (by issuing agency) date] hereinafter called “the Bid”) for the execution of [insert name of Contract] under Invitation for Bids No. [insert IFB number](“the IFB”). Furthermore, we understand that, according to your conditions, Bids must be supported by a Bid Guarantee. At the request of the Bidder, we [insert name of issuing agency] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [insert amount in figures] [insert amount in word] 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: