freight.
7. That the 'exporter' has furnished a performance guarantee of the value of the 10% of the 'goods ... bank guarantee. It was directed that the bank guarantee should not be encashed unless the Iranian State Railways invoke the performance guarantee furnished
performance bank guarantees
i.e. dated 9th October 2006 concerning northern sector to the tune of
Rs.1,07,203/- and another performance bank guarantee ... Bank Guarantees as per details given below towards
performance under this CONTRACT.
a) Performance Bank Guarantee No.28/41 dt.09/10/2006
amounting
traditional letter of credit or a new device like performance bond or performance guarantee, the obligation of the guarantor (usually a bank) is the same ... nature of a bank guarantee. The distinction which the High Court has drawn between a guarantee for due performance of a works contract
bare reading of the aforesaid letter would thus show that the performance guarantee is couched in the widest possible terms and is absolutely unqualified ... Performance bond stand on a similar footing to a letter of credit."
12. It is thus manifestly clear that a performance bank guarantee
guarantee in
question is a performance bank guarantee. That is issued and furnished to
guarantee due performance of the terms and conditions of the Parent ... instant case,
the guarantee may be for due performance of the obligations, but the
performance guarantee is in the form of a Bank Guarantee
this clause will be payable with interest accrued thereon.
(4) Performance Guarantee (P.G)
The procedure for obtaining Performance Guarantee is outlined below ... Guarantee Bonds. These forms of Performanc Guarantee could be either of the State Bank of India or of any of the Nationalized Banks;
v.Guarantee
hundred fifty thousand only). This Bank Guarantee shall act 'Composite Bank Guarantee' for Mobilisation Advance and Performance Bond where in Bank Guarantee ... import of the Bank Guarantee in respect to performance bonds contending that a performance guarantee was in the nature of Contract of security as envisaged
financial
guarantee was provided to make available loans or cash credit facility to the
beneficiary of the guarantee. The appellant had given performance guarantee ... historical performance
data of the product which is being sold by the distributor. It has been observed
that the performance guarantee is worked
ceramic honeycombs as per expected specifications. Article 12 which deals
with performance guarantee suggests that ARCI is to conduct performance
test and shall endeavour ... achieve the performance as agreed in
Article 12.1 in the first performance test, ARCI shall make necessary
rectification and another performance test will be conducted
subsequent to be satisfied by the
Appellant. Article 3.1.1 provide for performance
guarantee of Rs 7.5 Lakh/Mw to be provided by the
Appellant ... months from the
issuance of the letter of Intent, additional weekly
performance guarantee of Rs.0.375 Lacs per MW of
the Contracted Capacity
