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GROUP STANDARD BIDDING DOCUMENTWORKSNIT No. TEN23030026PART I: Notice Inviting Tender1. Bhutan Telecom Limited invites eligible bidders to submit you rebid for the Works \” Construction of Foundation
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How to fill out form 3 bank guarantee

01
To fill out form 3 bank guarantee, follow these steps:
02
Start by entering the required information about the bank guarantee issuer, such as their name, address, and contact information.
03
Next, provide the details of the beneficiary of the bank guarantee, including their name, address, and contact information.
04
Specify the purpose of the bank guarantee and the amount that will be guaranteed.
05
Include any additional terms and conditions related to the bank guarantee, such as expiration date, renewal options, and any applicable fees.
06
Sign and date the form to confirm its accuracy and completeness.
07
Submit the filled-out form to the relevant bank or financial institution.

Who needs form 3 bank guarantee?

01
Form 3 bank guarantee is typically needed by individuals, businesses, or organizations who require financial security for a specific transaction or contractual agreement.
02
This may include contractors bidding on construction projects, suppliers providing goods or services, or parties involved in international trade.
03
By obtaining a bank guarantee, the beneficiary can have the assurance that the specified amount will be paid by the bank if the issuer fails to fulfill their obligations.

What is 3: Bank Guarantee for Contract Perance Security Form?

The 3: Bank Guarantee for Contract Perance Security is a writable document that should be submitted to the relevant address to provide some info. It has to be filled-out and signed, which is possible manually in hard copy, or via a particular solution e. g. PDFfiller. This tool lets you complete any PDF or Word document right in the web, customize it according to your purposes and put a legally-binding e-signature. Right after completion, user can send the 3: Bank Guarantee for Contract Perance Security to the appropriate individual, or multiple individuals via email or fax. The editable template is printable as well thanks to PDFfiller feature and options offered for printing out adjustment. Both in electronic and physical appearance, your form will have a clean and professional appearance. It's also possible to save it as the template to use later, without creating a new file again. All you need to do is to edit the ready template.

Instructions for the form 3: Bank Guarantee for Contract Perance Security

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Form 3 bank guarantee is a legal document issued by a bank, guaranteeing the payment of a specified sum of money to a beneficiary in the event that the principal fails to fulfill their contractual obligations.
The principal party in a contract who needs to secure a financial guarantee for the fulfillment of their obligations is typically required to file Form 3 bank guarantee.
To fill out Form 3 bank guarantee, you need to provide details such as the names and addresses of the parties involved, the amount of the guarantee, the terms of the contract, and any other specific conditions required by the bank.
The purpose of Form 3 bank guarantee is to provide assurance to the beneficiary that they will receive compensation if the principal defaults on their obligations, thereby minimizing the risk in contractual agreements.
Form 3 bank guarantee must report details including the identity of the principal and beneficiary, the amount guaranteed, the terms and conditions of the guarantee, and the expiration date of the guarantee.
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