The Bid Security Bank Guarantee is a crucial document in Pakistan's procurement landscape, required under the Public Procurement Rules, 2004, and regulated by the State Bank of Pakistan. It is typically requested when organizations, particularly government entities or large corporations, issue tenders for significant projects or contracts. The guarantee, usually ranging from 1% to 5% of the bid value, provides financial security to the procuring entity against the risk of bid withdrawal or failure to proceed with the contract. The document must comply with both banking regulations and procurement laws, containing specific details about the tender, parties involved, and conditions for invocation. This type of bank guarantee is particularly important in sectors involving large-scale projects or significant public spending, where ensuring serious participation in the bidding process is crucial.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Place and Date: Location and date of issuance of the bank guarantee
2. Beneficiary Details: Complete details of the procurement entity/organization to whom the guarantee is being issued
3. Bank Details: Complete details of the issuing bank including branch information
4. Bidder Details: Complete information of the bidder on whose behalf the guarantee is being issued
5. Tender Reference: Details of the tender/bid including tender number, title, and submission date
6. Guarantee Amount: The amount of the bid security in both figures and words
7. Validity Period: The duration for which the bank guarantee remains valid
8. Guarantee Terms: Core terms of the guarantee including conditions for invocation
9. Payment Obligation: Bank's unconditional obligation to pay upon valid demand
10. Execution: Signature blocks and official bank stamps
1. Extension Clause: Optional clause allowing for extension of the guarantee validity period - include when procurement rules or tender documents specifically require this flexibility
2. Governing Law and Jurisdiction: Explicit mention of applicable law and courts - include when dealing with international tenders or when specifically required
3. Language Precedence: Clause specifying which language version prevails - include when the guarantee is issued in multiple languages
4. Counter Guarantee Reference: Reference to any counter guarantee arrangements - include when issued through multiple banks or for international tenders
1. Specimen Demand Notice: Format of the demand notice to be submitted by beneficiary for claiming the guarantee amount
2. Copy of Tender Notice: Reference copy of the tender notice showing bid security requirements
Relevant legal definitions
Clauses
Relevant Industries
Construction
Infrastructure
Energy
Telecommunications
Defense
Healthcare
Information Technology
Transportation
Manufacturing
Public Works
Mining
Oil and Gas
Utilities
Education
Relevant Teams
Legal
Procurement
Finance
Treasury
Risk Management
Compliance
Commercial
Business Development
Project Management
Operations
Relevant Roles
Procurement Manager
Tender Manager
Contract Administrator
Legal Counsel
Bank Manager
Relationship Manager
Bid Manager
Project Manager
Commercial Director
Chief Financial Officer
Risk Manager
Compliance Officer
Treasury Manager
Business Development Manager
Find the exact document you need
Performance Bank Guarantee Charges
A Pakistani banking document specifying the fee structure and charges applicable to Performance Bank Guarantees under Pakistani law.
find out more
Bank Guarantee Construction Project
A Pakistani law-governed bank guarantee document securing contractor obligations in construction projects, issued by a bank to protect project owner interests.
find out more
Letter To Bank For Bank Guarantee
A formal request letter to a Pakistani bank for issuing a bank guarantee, outlining the guarantee details and security offered under Pakistani banking regulations.
find out more
Deferred Payment Bank Guarantee
A Pakistani law-governed bank guarantee document where a bank guarantees deferred payment obligations of a debtor to a beneficiary.
find out more
Mobilisation Advance Bank Guarantee
A bank guarantee under Pakistani law securing the repayment of advance payments made to contractors for project mobilisation.
find out more
Indemnity Bond For Bank Guarantee
A Pakistani legal document where an indemnifier commits to protecting a bank against losses arising from a bank guarantee issuance, governed by Pakistani banking and contract laws.
find out more
Bank Guarantee Letter For Tender
A financial instrument under Pakistani law where a bank guarantees payment to a tender issuer if a bidder defaults on their tender obligations.
find out more
Labour Bank Guarantee
A Pakistani banking instrument where a bank guarantees an employer's financial obligations towards its workers under Pakistani labor laws.
find out more
International Bank Guarantee
A Pakistani law-governed bank guarantee providing financial security in international transactions, incorporating local banking regulations and international standards.
find out more
Business Loan Guarantee
A Pakistani law-governed agreement where a guarantor secures a borrower's business loan obligations to a lender, establishing terms and conditions of the guarantee relationship.
find out more
Cheque Guarantee Letter
A bank-issued guarantee document under Pakistani law ensuring payment of specified cheque(s) to the beneficiary.
find out more
Bank Guarantee For Purchase Of Goods
A Pakistani law-governed bank guarantee document securing payment for goods purchase, issued by a bank to protect the seller against buyer's default.
find out more
Government Backed Bank Guarantee
A Pakistani law-governed financial instrument providing a bank guarantee backed by government sovereign support, ensuring payment to beneficiaries under specified conditions.
find out more
Bank Guarantee In International Trade
A bank-issued guarantee document under Pakistani law that secures payment or performance obligations in international trade transactions.
find out more
Guarantee Letter For Bank Loan
A legally binding document under Pakistani law where a guarantor commits to assuming responsibility for a borrower's loan obligations in case of default.
find out more
Return Of Original Bank Guarantee
A formal document under Pakistani law facilitating the return of an original bank guarantee to its applicant upon fulfillment of obligations or guarantee expiry.
find out more
Bank Guarantee Line
A Pakistani law-governed agreement establishing a bank guarantee facility, setting out terms for guarantee issuance, security arrangements, and regulatory compliance.
find out more
Guarantee Cheque Against Advance Payment
A Pakistani legal document providing security through a guarantee cheque against advance payments made in commercial transactions, governed by Pakistani banking and commercial laws.
find out more
Discharge Of Bank Guarantee
A Pakistani law-compliant document that formally releases a bank from its obligations under a previously issued bank guarantee, providing legal finality to the guarantee arrangement.
find out more
Corporate Guarantee And Bank Guarantee
A dual-purpose guarantee template for corporate and bank guarantees under Pakistani law, establishing terms for financial security and enforcement mechanisms.
find out more
Bank Loan Personal Guarantee
A Pakistani law-governed personal guarantee agreement securing bank loan obligations, establishing guarantor liability under local banking and contract laws.
find out more
Bank Guarantee And Performance Guarantee
A Pakistani law-governed bank and performance guarantee document providing financial security for contractual obligations between parties, backed by a bank's assurance of payment.
find out more
Bank Guarantee For Tender Security
A Pakistani law-governed bank guarantee providing financial security to tender issuers against bidder's non-performance or withdrawal of bid.
find out more
Bank Guarantee And Lc
Pakistani law-compliant Bank Guarantee and LC template, incorporating both conventional and Islamic banking requirements under local banking regulations.
find out more
Performance Security Bank Guarantee
A bank-issued guarantee under Pakistani law that secures the performance obligations of a contractor/supplier, providing financial protection to the project owner/employer.
find out more
Personal Banker's Guarantee
A bank-issued guarantee document under Pakistani law that provides financial security by ensuring payment to a beneficiary if a principal debtor defaults on their obligations.
find out more
Guarantor Letter For Bank Loan
A legally binding document under Pakistani law where a guarantor commits to repay a borrower's bank loan in case of default.
find out more
Bank Guarantor Letter
A formal bank undertaking governed by Pakistani law to pay a specified sum to a beneficiary upon the principal obligor's default or non-performance.
find out more
Bank Account Guarantee
A Pakistani law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon the principal's default of obligations.
find out more
Bank Account Government Guarantee
A Pakistani law-governed guarantee document where the Government of Pakistan provides security for designated bank accounts, ensuring fund availability and transaction security.
find out more
Performance Guarantee In Tender
A bank-issued financial security instrument under Pakistani law that guarantees a bidder's performance obligations in a tender process.
find out more
Assurance Of Support Bank Guarantee
A bank-issued financial guarantee document under Pakistani law that ensures specified obligations will be met through bank support if the primary obligor defaults.
find out more
Authorization Letter To Collect Bank Guarantee
A formal Pakistani legal document authorizing a designated person to collect a bank guarantee on behalf of the authorizer, compliant with local banking regulations.
find out more
Performance Bank Guarantee In Tender
A Pakistani law-governed bank guarantee ensuring a tenderer's performance obligations in a tender process, issued by a bank to protect the procuring agency's interests.
find out more
Corporate Guarantee For Bank Loan
A Pakistani law-governed guarantee agreement where a corporate entity guarantees a borrower's loan obligations to a bank, serving as additional security for the lender.
find out more
Bid Security Bank Guarantee
A bank-issued financial guarantee under Pakistani law that secures a bidder's obligations in a tender process, protecting the procuring entity against bid withdrawal or non-performance.
find out more
Bank Guarantee For Deposit
A Pakistani law-compliant bank guarantee document where a bank guarantees payment of a specified deposit amount to a beneficiary on behalf of a principal debtor.
find out more
Surety Bond Bank Guarantee
A Pakistani law-governed bank guarantee where a bank assures payment or performance on behalf of a principal debtor to a beneficiary.
find out more
Bank To Bank Guarantee
A legally binding guarantee agreement between two banks under Pakistani law, where one bank guarantees specified financial obligations to another bank.
find out more
Bank Surety Letter
A Pakistani law-compliant banking instrument where a bank guarantees payment to a beneficiary if a principal debtor defaults on their obligations.
find out more
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)