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BID BOND
To: (Beneficiary’s full name and address)
Issuing date________
Dear Sirs,
Re: Our Irrevocable Bid Bond No._______
We have been informed that (hereinafter called ‘the Principal’) submitted on (date) their offer No.
for the execution of (brief description of bid )under your bid invitation No. dated according
to the tender conditions a bid bond has to be supplied.
This being stated, we, AGRICULTURAL BANK OF CHINA, BRANCH (address: ), hereby irrevocably
undertake to pay you, on your first demand, any amount not exceeding (guaranteed amount in figures and
words)representing percent of the bid value, upon receipt of your duly signed request for payment stating that:
‘The Principal has withdrawn their offer before its expiry date without your consent,’ or
‘The Principal has failed to sign the contract awarded to them in the terms of their offer,’or
‘The Principal has failed to provide the performance bond foreseen in the tender upon signing the contract.’
Your demand for payment must also be accompanied by the following document(s): (specify document(s) if any, or
delete).
For the purpose of identification, your request for payment must bear or be accompanied by a signed confirmation of
one of our correspondent banks stating that the latter has verified your signature(s) appearing on the said request for
payment and must be sent by registered mail or by courier service.
The amount of this
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