The Bid Bond Tender Guarantee is a crucial document in Irish procurement processes, particularly for high-value or public sector tenders. It serves as a risk mitigation tool for tender authorities, ensuring that only serious bidders participate in the tender process. The guarantee typically amounts to 1-5% of the bid value and becomes payable if the bidder withdraws their bid before the validity period expires, fails to sign the contract if awarded, or doesn't provide required performance security. The document must comply with Irish contract law, the Public Procurement Regulations 2016, and relevant EU directives. It's commonly required in public tenders, major infrastructure projects, and significant commercial contracts where the tender authority needs security against non-performance by bidders.
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.
Upload your Doc
1. Parties: Identifies the three key parties: (1) the Guarantor/Bank issuing the bond, (2) the Principal/Bidder, and (3) the Beneficiary/Tender Authority
2. Background: Describes the tender process, reference numbers, and context for which the bid bond is being issued
3. Definitions: Defines key terms used throughout the guarantee, including 'Tender', 'Guaranteed Sum', 'Tender Closing Date'
4. Guarantee: Core section stating the guaranteed sum and the guarantor's unconditional obligation to pay
5. Trigger Events: Specifies circumstances under which the guarantee becomes payable (e.g., withdrawal of bid, failure to sign contract)
6. Demand Requirements: Sets out the formal requirements for making a valid demand under the guarantee
7. Duration and Expiry: Specifies the effective period of the guarantee and conditions for expiry
8. Governing Law and Jurisdiction: Confirms Irish law as governing law and specifies jurisdiction for disputes
1. Counter-Guarantee Provisions: Required when there's a separate counter-guarantee arrangement between the principal and guarantor
2. Multiple Beneficiaries: Needed when the tender involves multiple beneficiary entities
3. Step-In Rights: Include when the tender authority requires rights to assign or transfer the guarantee
4. Currency Provisions: Required when the guarantee amount is in a currency other than Euro
5. Electronic Demands: Include when electronic submission of demands is permitted
6. Partial Drawings: Required when the guarantee allows for multiple partial demands up to the guaranteed sum
1. Form of Demand: Template for making a valid demand under the guarantee
2. Tender Details: Details of the specific tender including reference numbers, project description, and submission deadlines
3. Authority Representatives: List of authorized persons who can make demands under the guarantee
4. Bank Details: Payment details for the beneficiary for receiving guarantee payments
5. Counter-Guarantee Terms: If applicable, terms of the counter-guarantee between principal and guarantor
Relevant legal definitions
Advance Payment
Affiliate
Authorized Representative
Beneficiary
Bid
Bid Documents
Bid Security
Business Day
Contract
Counter-Guarantee
Demand
Effective Date
Electronic Communication
Expiry Date
Governing Law
Guarantee Amount
Guaranteed Obligations
Guarantor
Instruction
Irish Business Hours
Maximum Aggregate Liability
Notices
Parties
Payment Currency
Principal
Project
Relevant Jurisdiction
Required Rating
Secured Obligations
Security Period
Tender
Tender Authority
Tender Closing Date
Tender Documents
Tender Process
Tender Reference Number
Trigger Event
Valid Demand
Working Day
Affiliate
Authorized Representative
Beneficiary
Bid
Bid Documents
Bid Security
Business Day
Contract
Counter-Guarantee
Demand
Effective Date
Electronic Communication
Expiry Date
Governing Law
Guarantee Amount
Guaranteed Obligations
Guarantor
Instruction
Irish Business Hours
Maximum Aggregate Liability
Notices
Parties
Payment Currency
Principal
Project
Relevant Jurisdiction
Required Rating
Secured Obligations
Security Period
Tender
Tender Authority
Tender Closing Date
Tender Documents
Tender Process
Tender Reference Number
Trigger Event
Valid Demand
Working Day
Clauses
Interpretation
Definitions
Guarantee Obligations
Payment Obligations
Demand Procedure
Duration and Expiry
Representations and Warranties
Assignment and Transfer
Enforcement
Amendments
Severability
Governing Law
Jurisdiction
Notices
Waiver
Indemnification
Force Majeure
Costs and Expenses
Confidentiality
Data Protection
Anti-Money Laundering
Regulatory Compliance
Counter-Indemnity
Set-Off Rights
Currency Provisions
Electronic Communications
Third Party Rights
Entire Agreement
Definitions
Guarantee Obligations
Payment Obligations
Demand Procedure
Duration and Expiry
Representations and Warranties
Assignment and Transfer
Enforcement
Amendments
Severability
Governing Law
Jurisdiction
Notices
Waiver
Indemnification
Force Majeure
Costs and Expenses
Confidentiality
Data Protection
Anti-Money Laundering
Regulatory Compliance
Counter-Indemnity
Set-Off Rights
Currency Provisions
Electronic Communications
Third Party Rights
Entire Agreement
Relevant Industries
Construction
Infrastructure
Public Works
Defense
Healthcare
Energy
Telecommunications
Transportation
Utilities
Government Services
Information Technology
Engineering Services
Relevant Teams
Legal
Finance
Procurement
Treasury
Risk Management
Commercial
Business Development
Operations
Compliance
Project Management
Relevant Roles
Procurement Manager
Tender Manager
Contract Manager
Legal Counsel
Financial Director
Bid Manager
Treasury Manager
Risk Manager
Commercial Director
Project Manager
Compliance Officer
Business Development Manager
Account Manager
Operations Director
Chief Financial Officer
Find the exact document you need
Deferred Payment Bank Guarantee
An Irish law-governed bank guarantee instrument that provides security for deferred payments in commercial transactions, with the bank guaranteeing scheduled payments to the beneficiary.
Download
Bank Guarantee For Lease
An Irish law-governed bank guarantee providing security to landlords for tenant obligations under commercial lease agreements, issued by a bank as a binding financial commitment.
Download
Advance Payment Guarantee
Template for Advance Payment Guarantees under Irish law, providing security for advance payments in commercial transactions.
Download
Performance Bond Guarantee
An Irish law-governed financial guarantee instrument where a guarantor ensures a principal's performance of contractual obligations, providing security to the beneficiary.
Download
Letter Of Credit And Guarantee
An Irish law-governed banking instrument combining a documentary credit with guarantee provisions to secure international trade transactions and ensure payment obligations.
Download
Bank Guarantee For Purchase Of Goods
An Irish law-governed bank guarantee securing payment for goods, where a bank guarantees payment to a seller on behalf of a buyer in a commercial transaction.
Download
Letter Of Credit Guarantee
An Irish law-governed banking guarantee document where a financial institution guarantees payment obligations under a Letter of Credit facility.
Download
Bank Guarantor Letter
An Irish law-governed bank guarantee document where a bank commits to pay a specified amount to a beneficiary upon certain conditions or default events.
Download
Financial Bank Guarantee
An Irish law-governed bank guarantee document where a financial institution provides a binding commitment to pay a specified sum to a beneficiary upon defined conditions.
Download
Bank Guarantee For Deposit
An Irish law-governed bank guarantee securing payment of a deposit, typically used in property or commercial transactions, issued by a bank to protect a beneficiary's interests.
Download
Standby Letter Of Credit For Lease
An Irish law-governed banking instrument providing security for lease obligations, allowing landlords to claim payment from a bank if tenants default on lease terms.
Download
Bank Guarantee For Rent
An Irish law-governed financial instrument where a bank guarantees rent payment to a landlord on behalf of a tenant, serving as an alternative to a cash deposit.
Download
Unlimited Bank Guarantee
An Irish law-governed Unlimited Bank Guarantee providing unconditional and uncapped payment undertaking from a bank to a beneficiary.
Download
Digital Bank Guarantee
An Irish law-governed digital bank guarantee providing secured payment undertaking with electronic authentication and execution capabilities.
Download
Corporate Bank Guarantee
An Irish law-governed bank guarantee where a financial institution guarantees payment or performance on behalf of a corporate client to a beneficiary.
Download
Bank Guarantee Letter Of Credit
An Irish law-governed bank-issued financial instrument guaranteeing payment to a beneficiary upon presentation of specified documents, commonly used in international trade transactions.
Download
Trade Finance Bank Guarantee
An Irish law-governed bank guarantee providing financial security in trade transactions, issued by a bank to protect beneficiaries against non-performance by the principal.
Download
Bank Guarantee Bond
An Irish law-governed financial instrument where a bank guarantees payment to a beneficiary if a principal defaults on their contractual obligations.
Download
Open Ended Bank Guarantee
Template for an Irish law-governed Open Ended Bank Guarantee, establishing a continuing security instrument between bank, principal, and beneficiary.
Download
Advance Payment Guarantee Bond
An Irish law-governed guarantee instrument issued by a financial institution to secure advance payments made under a commercial contract.
Download
On Demand Bank Guarantee
An Irish law-governed bank guarantee document where a bank commits to pay a specified sum to a beneficiary upon receiving a compliant demand, commonly used in commercial and international transactions.
Download
Bank Endorsement Letter
An Irish-law governed formal bank document confirming a client's financial standing or specific financial arrangements, issued under Irish banking regulations.
Download
Revolving Bank Guarantee
An Irish law-governed agreement establishing a revolving bank guarantee facility with automatic reinstatement provisions, compliant with Irish banking regulations.
Download
Performance Standby Letter Of Credit
An Irish law-governed bank undertaking to pay upon default of performance obligations, providing financial security for commercial transactions.
Download
Payment Guarantee Letter To Supplier
An Irish law-governed financial instrument where a guarantor provides a binding commitment to pay a supplier if the principal debtor defaults on their payment obligations.
Download
Bank Guarantee Performance Bond
An Irish law-governed bank guarantee securing a principal's performance obligations to a beneficiary, typically used in construction and infrastructure projects.
Download
Standby Letter Of Credit
An Irish law-governed bank guarantee instrument that provides payment assurance to a beneficiary upon presentation of compliant documents indicating default by the applicant.
Download
Cash Backed Bank Guarantee
An Irish law-governed agreement establishing a bank guarantee backed by cash deposit, detailing terms, conditions, and parties' obligations.
Download
Irrevocable Standby Letter Of Credit
An Irish law-governed financial instrument issued by a bank providing an irrevocable payment guarantee to a beneficiary, subject to specified conditions and document presentation.
Download
Irrevocable Letter Of Guarantee
An Irish law-governed financial instrument where a guarantor provides an irrevocable commitment to pay a specified sum to a beneficiary upon demand, subject to stated terms and conditions.
Download
Bid Bond Tender Guarantee
An Irish law-governed financial guarantee ensuring a bidder's commitment to their tender submission, with the guarantor promising payment if the bidder defaults on their obligations.
Download
Bank Guarantee Letter
An Irish law-governed bank undertaking that guarantees payment or performance obligations of a principal party to a beneficiary, providing financial security in business transactions.
Download
Bank Letter Of Comfort
An Irish law-governed document issued by a bank providing assurance regarding another entity's financial obligations, without constituting a legal guarantee.
Download
Performance Bank Guarantee
An Irish law-governed bank guarantee securing a contractor's performance obligations to their client, providing financial security for contract fulfillment.
Download
Genie’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; Genie’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)
.png)