Bank Tender Guarantee Format

When participating in a bidding process, it is common for banks to issue tender guarantees to ensure that the winning bidder will fulfill their obligations. The format of a bank tender guarantee is usually as follows:

1. The guarantee should be addressed to the party requesting the tender guarantee, usually the organization or entity issuing the tender.

2. The guarantee should clearly state the name of the bank issuing the guarantee, along with its contact details and full address.

3. The guarantee should specify the name of the bidder for whom the guarantee is being issued, along with their contact details and address.

4. The guarantee should state the amount of the guarantee in both words and figures, and specify the currency in which the guarantee is being issued.

5. The guarantee should clearly state the purpose for which the guarantee is being issued, i.e. to participate in a specific bidding process.

6. The guarantee should specify the validity period of the guarantee, usually until a certain date after the bidding process has ended.

7. The guarantee should be signed by an authorized signatory of the issuing bank, along with their official stamp or seal.