Demand Bid Guarantee
Detail of guarantee:
We have been informed that our client [name and address] are tenderers in accordance with their bid under tender no. [tender no.] covering [description of project].
We are also informed, that according to the conditions of the tender, a bid guarantee is required.
Therefore we, Nykredit Bank A/S, Trade Finance, Sundkrogsgade 25, DK-2150 Nordhavn, Denmark, at the request of our client, hereby irrevocably undertake to pay you on your first demand, waiving all rights of objections and defence, any amount up to the following maximum amount:
[currency] [amount] (in words: [amount in words])
upon receipt of your original duly signed demand for payment and your statement, whether in the demand itself or in a separate signed document accompanying or identifying the demand indicating that [name of our client]:
- a. was declared the successful bidder and despite this did not fulfil their obligations towards you in accordance
with the tender because... (a brief explanation of the failure must be indicated); or
- b. have withdrawn their offer during the tender period
Our guarantee is effective as of today and expires on [date] or such earlier date as the original guarantee document is returned to us, automatically and in full if your demand has not been received by us, at this office, on or before that date, regardless of such date being a non-banking day.
This guarantee is governed by Danish law and the place of jurisdiction is Copenhagen, Denmark.
This guarantee is subject to the Uniform Rules for Demand Guarantees (URDG) 2010 Revision, ICC Publication No. 758.
Yours faithfully,
Nykredit Bank A/S