Bank Guarantee For Tender Template for Belgium

The Bank Guarantee For Tender is a crucial document in procurement processes under Belgian law, commonly required for both public and private sector tenders. It serves as a risk mitigation tool for tender issuers, ensuring that bidders maintain their commitments throughout the tender process. This guarantee typically amounts to 1-10% of the tender value and remains valid from the tender submission date until shortly after the award decision or contract signing. The document must comply with Belgian banking regulations, civil code requirements regarding guarantees, and public procurement laws where applicable. It includes specific details about the tender, parties involved, guarantee amount, validity period, and claim conditions. The bank's obligation is independent of the underlying tender relationship, making it a reliable security instrument for beneficiaries.

1. Bank Details and Reference: Full legal name and address of the issuing bank, guarantee reference number, and date of issuance

2. Beneficiary Details: Full legal name and address of the party receiving the guarantee (typically the tender issuer)

3. Principal Details: Full legal name and address of the party requesting the guarantee (the tender participant)

4. Tender Reference: Clear identification of the tender process, including tender reference number and title

5. Guarantee Amount: The specific amount of the guarantee in numbers and words, including currency

6. Guarantee Terms: Core terms of the guarantee including validity period, conditions for payment, and claim procedures

7. Purpose of Guarantee: Specific reference to the tender participation and confirmation that this is a tender guarantee

8. Expiry Conditions: Clear statement of when and how the guarantee expires or becomes invalid

9. Claim Mechanism: Detailed procedure for making a claim under the guarantee

10. Governing Law and Jurisdiction: Explicit reference to Belgian law and jurisdiction