The Bid Bond Bank Guarantee is a crucial document in Qatar's tendering process, required by both government entities and private organizations to ensure genuine participation in bids. This guarantee, governed by Qatar law, particularly Law No. 22 of 2004 (Civil Code) and Qatar Central Bank regulations, provides financial security to tender issuers against bidders who might withdraw their bids or fail to proceed with the contract if awarded. The document typically remains valid from the tender submission date until the award of the contract and is usually replaced by a Performance Bond once the contract is awarded. The amount is typically set between 2-5% of the bid value, though this may vary based on the tender requirements. Banks issuing such guarantees must be licensed to operate in Qatar, and the guarantee must follow specific formatting and content requirements established by local banking practices and regulations.
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1. Bank Details and Reference: Header section containing the issuing bank's details, reference number, and date of issuance
2. Beneficiary Details: Full name and address of the entity receiving the guarantee (typically the tender issuer)
3. Principal Details: Full name and address of the bidder on whose behalf the guarantee is issued
4. Tender Reference: Clear identification of the tender/bid for which the guarantee is being issued
5. Guarantee Amount: The amount of the guarantee in both figures and words
6. Guarantee Statement: Core text stating the bank's unconditional and irrevocable guarantee to pay
7. Validity Period: Clear statement of when the guarantee becomes effective and its expiry date
8. Claim Conditions: Terms under which the guarantee can be called and the process for making a claim
9. Governing Law: Statement that the guarantee is governed by Qatar law
10. Execution Block: Space for authorized bank signatories and official stamp
1. Language Declaration: Required when the guarantee is issued in multiple languages, specifying which version prevails
2. Assignment Clause: Include when the beneficiary requires the right to assign the guarantee
3. Jurisdiction Clause: Optional detailed jurisdiction clause for dispute resolution, used when specifically requested
4. Electronic Presentation: Include when electronic presentation of claims is permitted
5. Counter-Guarantee Reference: Required when issued under a counter-guarantee from another bank
1. Form of Demand: Standard format for making a claim under the guarantee
2. Tender Details: Full details of the tender/bid requirements (may be attached if lengthy)
3. Authentication Method: Details of acceptable methods for authenticating claims (particularly relevant for electronic presentations)
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