BANK GUARANTEE

To
2016

Date:

27-06-

Bharat Electronics
A Govt. Of India Enterprises
Jalahalli, Bangalore 560013, India
Dear Sir/Madam
Sub: Your Contract No. BEPO/S41/4800027765 Dated: June 01,
2016
Whereas M/s Bharat Electronics Limited, Jalahalli, Bangalore
(hereinafter referred to as Purchaser) has placed a purchase Order No.
BEPO/S41/4800027765 dt. 01-06-2016 (hereinafter referred to as the
Order) on M/s Optimum Viking Satcom (I) Pvt. Ltd., 455, 2 nd Floor,
Patparganj Industrial Area, Delhi-110092 (hereinafter referred to as
Seller) for the Service of supply of materials as specified in the purchase
order (hereinafter referred to as vendor) and whereas the seller has
undertaken to produce a Bank Guarantee for an amount of Rs. 80,000/(INR Eighty Thousand Only) being equal to 5% of the said of the value

of the said AMC service towards the performance of the service order
specified in the said order.

1. We, Punjab National Bank (hereinafter refer to as as bank) at

the request of vendor hereby undertake to pay to M/s Bharat
Electronics Limited an amount not exceeding Rs. 80,000/- (INR
Eighty Thousand Only) against any loss or damage caused to or
suffered or would be caused to or suffered by purchaser by reason
of any breach by the said seller of any of the terms or conditions of
the Performance AMC of 2.4 m Antenna of Mobile Remotes as
stipulated in the said order.
2. We Punjab National Bank do hereby undertake to pay the amounts
due and payable under this guarantee without any demure, merely
on a demand from the Purchaser by reason of breach by the said
seller of any of the terms or conditions pertaining to performance of
AMC contained in the said Order or by reason of the seller failure to
perform the AMC service obligations stipulated in the said Order.
Any such demand made on the Bank shall be conclusive as regards
to the amount due and payable by the Bank under this guarantee
where the decision of Purchaser in these counts shall be final and
binding on the bank. However, our liability under this guarantee
shall be restricted to an amount not exceeding Rs. 80,000/- (INR
Eighty Thousand Only).
3. We undertake to pay to Purchaser any money so demanded
notwithstanding any dispute or disputes raised by the vendor in any
suit or proceeding pending before any court or tribunal relating
thereto liability under this present being absolute and unequivocal.
The Payment so made by us shall be valid discharge of our liability
for payment there under and the Seller shall have no claim against
us for making such payment.
4. We Punjab National Bank Further agree that guarantee herein
contained shall remain in full force and effect during the period that
would be taken for the performance of the AMC service obligations
in the said Order and that it shall continue to be enforceable till all
the dues of the Purchaser under or by virtue of the said order have
been fully paid and its claims satisfied or discharged or till the
Purchaser certifies that the terms and conditions of the warranty
obligations of the said have been fully and properly carried out by
the said seller and accordingly discharges this guarantee. Unless a
demand or claim under this guarantee is made on us in writing on or
before 31.04.2017 we shall be discharged from all liabilities under
this performance guarantee thereafter.

5. We Punjab National Bank further agree with the Purchaser that

the Purchaser shall have the fullest liberty without our consent and
without affecting in any manner our obligations hereunder to vary
any of the terms and conditions of the said order to extend time of
performance by the said seller from time to time or to postpone for
any time or from time to time any of the powers exercisable by the
Purchaser against the said vendor and to forbear enforce any of the
terms and conditions relating to the said order and we shall not be
relieved from our liability by reason of any such variation, or
extension being granted to the said vendor or for any aberrance act
or omission on the part of the Purchaser or any indulgence by the
Purchaser to the said vendor or by any such matter or thing
whatsoever which under the law relating to sureties would, but for
this provision, have effect of so relieving us.
6. This guarantee will not be discharged due to the change in the
constitution of the Bank or the seller.

NOW WITHSTANDING CONTAINED HEREIN ABOVE:

1. Our liability under this guarantee shall not exceeded to Rs. 80,000/(Rupee Eighty Thousand Only).
2. This Guarantee shall be valid till 31.04.2017 and
3. We are liable to pay the guaranteed amount or any parts thereof
under this guarantee only and only if you serve upon the written
claim or demand on or before 31.04.2017
We, Punjab National Bank Kaushambi lastly undertake not to revoke this
guarantee during is currency except with the previous consent.

Dated 27th June 2016 at Ghaziabad for Punjab National Bank, B.O.
Kaushambi, Ghaziabad

Signature
Name
Designation
GBPA no.

Signature
Name
Designation
GBPA no.