ATTACHMENT 8 Bank Letter of Assurance Sample.docx
DOCX document 20 KB Posted
- Solicitation number
- W912GB23R0005
- Issued by
-
Department of the Army European Command
About this file
This document contains a sample bank letter of assurance and bank letter of guarantee to support a federal construction contract solicitation. The solicitation seeks design-build construction services for the renovation of Ntsasa Primary School in Pumlani, South Africa, with an estimated magnitude between $500,000 and $1,000,000. The U.S. Department of the Army European Command issued the solicitation under full and open competition. The sample bank letter of assurance commits a bank to provide a letter of guarantee for 10% of a bidder's proposed price within 14 days of contract award, should that bidder be selected for the work. Similarly, the bank letter of guarantee template obligates payment of 10% of the contract value to the U.S. government, upon request from the contracting officer, to secure performance of the construction work in compliance with the contract terms and conditions.
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Text version
BANK LETTER OF ASSURANCE
(BANK LETTERHEAD)
DATE
US Army Corps of Engineers, Europe District ATTN: Contracting Officer Konrad-Adenauer-Ring 39, Box 7 65187 Wiesbaden, Germany
SUBJECT: Bank Letter of Assurance for Solicitation: W912GB20R0039
PROJECT: Azerbaijan School Project
I/We, the undersigned, acting as the duly authorized representatives of ___________________ _______________________ (Bank Name), assure that we will issue a Bank Letter of Guaranty for account of ____________________________________________ (Firm Name (for Joint Venture – each party’s name shall be listed)), should the contract pursued under subject solicitation be awarded to them.
The Bank Letter of Assurance is issued for $ [10% of proposed price], as presented by this firm, ________________________ (Firm Name).
The Bank Letter of Guaranty will be issued for $ [10% of proposed price], as presented by this firm, ___________________________. The Bank Letter of Guaranty will be provided to you within 14 calendar days after contract award and will contain all conditions listed in the sample provided by this solicitation (copy attached for reference on page 2).
In addition, I/We, the undersigned, acting as the duly authorized representatives of ________________________ (Bank Name), assure that ________________________ (Firm Name), can at any time obtain a Bank Letter of Guaranty in accordance with Federal Acquisition Regulation (FAR) Clause 52.228-2, Additional Bond Security.
Sincerely,
| _________________________________ |
| (Authorized Representative of the Bank) |
BANK LETTER OF GUARANTEE
(BANK LETTERHEAD)
US Army Corps of Engineers Europe District Konrad Adenauer Ring 39, Box 7 ATTN: Contracting Officer 65187 Wiesbaden, Germany
LETTER OF GUARANTEE NUMBER:_______________ DATE:_________
I/We, the undersigned, acting as the duly authorized representative of the Bank, declare that the Bank hereby guarantees and is jointly and severally liable as the guarantor with FILL-IN (CONTRACTOR NAME) (herein after called the Contractor), to effect payment to the Contracting Office by check made payable to the Treasury of the United States, within five (5) calendar days after receipt of a simple request, by registered mail, from the Contracting Officer designated in the contract described below, or his successor, immediately and entirely without any need for the Contracting Officer to protest or take any legal action or obtain the prior consent of the Contractor, or for any other proof, action or decision by any other authority, up to the sum of 10% of CONTRACT VALUE, which represents the deposit required of the Contractor to guarantee fulfillment of its obligation for the satisfactory completion and timely performance of the work under Contract W912GB-20-R-00XX for CONTRACT dated (AWARD DATE) at Alkhasi, Azerbaijan in strict compliance with the terms and conditions of said contract, entered into between the United States of America and the Contractor, plus legal interest to be calculated from the date of receipt of the Contracting Officer’s registered letter request until the date of payment. Registered letter request shall inform the Bank that the Contractor failed to comply with the terms and conditions of the contract, or did not fulfill his undertaking in whole or in part.
I/We agree and consent that said contract may be modified by change order or supplemental agreement, affecting the contract amount and/or time of performance without prior consent of the bank and without affecting the validity of this guarantee; provided, however, that the amount of this guarantee shall be adjusted as required under the provisions of contract clause 52.228-2, Additional Bond Security (Oct 1997).
This letter of guarantee will continue in effect until the work has been finally accepted by the Government, and will continue thereafter in an amount equal to Five Percent (5%), until all applicable guarantees, or extensions thereof under the contract, have expired.
NAME & ADDRESS OF THE BANK
Signed By: ______________________________________
(TYPE NAME UNDERNEATH SIGNATURE)
| Title: | _______________________________________ | |||
| Endorsement By: | _______________________________________ | |||
| (TYPE NAME UNDERNEATH SIGNATURE) | ||||
| Title: | _______________________________________ |
NOTE: Certificate of Authority is attached evidencing authority of the signers to bind the bank in this document.
File details come from the government source that posted it. Updated .