wheat ii krishnapatnam 5

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 PEC/WHEAT/EXP-II /2013-14/14 Page 1 PEC Limited (A Government of India Enterprise) “Hansalaya”, 15-Barakhamba Road, New Delhi-110 001, INDIA Tel. No. (91-11)-23326588/23312844; Fax No. (91-11)-23322303/23327262 E-mail: [email protected] AGRO COMMODITIES DIVISION TENDER FOR EXPORT OF WHEAT FROM KRISHNAPATNAM PORT TENDER NO. : PEC/WHEAT/EXP-II/2013-14/14 DATE: 20.03.2014 Tender Closing Time & Date: 1445 hours Indian Standard Time (IST) on Friday, 11 th  April 2014 Bid Validity: Price Bids must remain valid upto 1700 hours IST on Monday, 21 st  April 2014 PEC LIMITED (PEC) INVITES BID(S) FROM OVERSEAS BUYERS FOR EXPORT OF 35,000 MT (+/- 10%) INDIAN MILLING WHEAT FROM FOOD CORPORATION OF INDIA (FCI) STOCKS AT KRISHNAPATNAM PORT (EAST COAST, INDIA). The bids are invited from overseas buyers of wheat of Indian origin stored in the godown(s) of PEC/FCI at Krishnapatnam port. The prospective buyers are requested to submit their bid(s) as per the following detailed terms and conditions of this Tender. I. COMMODITY: Indian Milling Wheat of Cu rrent Crop. II. PACKING: Loose in bulk. III. SPECIFICATIONS: As per the table given below : The method of sampling is as per Indian standard, i.e., BIS - IS 14818:2000, ISO 13690:1999 and  procedure for analysis is to be followed as prescribed for Indian Wheat by Government of India as per BIS specifications IS:4333 (part I: 1996) (Second revision) reaffirmed January 2008. SR. NO PARAMETER SPECIFICATIONS 1 MOISTURE 12 PCT MAX 2 PROTEIN CONTENT (ON WET BASIS) 11.5 PCT MIN 3 TEST WEIGHT 77 Kg/Hl MIN 4 GLUTEN (ON WET BASIS) 25 PCT MIN 5 FOREIGN MATTER/OTHER FOOD GRAINS 2.75 PCT (FM : 0.75 PCT, OFG: 2 PCT) MAX 6 SHRIVELLED/SHRUNKEN/BROKEN 6 PCT MAX 7 DAMAGED GRAINS/ WEEVILLED GRAIN 3 PCT (DAMAGED: 2 PCT, WEEVILLED: 1 PCT) MAX 8 FALLING NO. 400 PER SEC MIN

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PEC/WHEAT/EXP-II/2013-14/14 Page 1

PEC Limited(A Government of India Enterprise)

“Hansalaya”, 15 -Barakhamba Road, New Delhi-110 001, INDIA Tel. No. (91-11)-23326588/23312844; Fax No. (91-11)-23322303/23327262

E-mail: [email protected]

AGRO COMMODITIES DIVISION

TENDER FOR EXPORT OF WHEAT FROM KRISHNAPATNAM PORT

TENDER NO. : PEC/WHEAT/EXP-II/2013-14/14 DATE: 20.03.2014

Tender Closing Time & Date: 1445 hours Indian Standard Time (IST) on Friday, 11 th April 2014

Bid Validity: Price Bids must remain valid upto 1700 hours IST on Monday, 21 st April 2014

PEC LIMITED (PEC) INVITES BID(S) FROM OVERSEAS BUYERS FOR EXPORT OF 35,000 MT (+/- 10%) INDIAN MILLING WHEAT FROM FOOD CORPORATION OF INDIA (FCI) STOCKS ATKRISHNAPATNAM PORT (EAST COAST, INDIA).

The bids are invited from overseas buyers of wheat of Indian origin stored in the godown(s) of PEC/FCI atKrishnapatnam port. The prospective buyers are requested to submit their bid(s) as per the following detailed termsand conditions of this Tender.

I. COMMODITY : Indian Milling Wheat of Current Crop.

II. PACKING : Loose in bulk.

III. SPECIFICATIONS : As per the table given below :

The method of sampling is as per Indian standard, i.e., BIS - IS 14818:2000, ISO 13690:1999 and procedure for analysis is to be followed as prescribed for Indian Wheat by Government of India as per BISspecifications IS:4333 (part I: 1996) (Second revision) reaffirmed January 2008.

SR. NO PARAMETER SPECIFICATIONS

1 MOISTURE 12 PCT MAX

2 PROTEIN CONTENT (ON WET BASIS) 11.5 PCT MIN

3 TEST WEIGHT 77 Kg/Hl MIN

4 GLUTEN (ON WET BASIS) 25 PCT MIN

5 FOREIGN MATTER/OTHER FOOD GRAINS 2.75 PCT (FM : 0.75 PCT, OFG: 2 PCT) MAX

6 SHRIVELLED/SHRUNKEN/BROKEN 6 PCT MAX

7 DAMAGED GRAINS/ WEEVILLED GRAIN3 PCT (DAMAGED: 2 PCT,WEEVILLED: 1 PCT)

MAX

8 FALLING NO. 400 PER SEC MIN

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The definitions of the above refractions are as prescribed in BIS - IS 2813:1995.

Wet Gluten shall be determined on flour ( maida ) basis. The sieve size to be used for making flour shall be150-155 microns. The procedure to be followed for determination of wet gluten is ICC Standard No. 155and No. 158, AACC Method No. 38-12.

IV. QUANTITY OF EXPORT :

Maximum quantity that may be quoted by the Bidder for Krishnapatnam port is 35,000 MT (+/- 10% atBuyer’s option). The bidders to quote for a minimum quantity of 35,000 MT (+/- 10%). PartialShipment shall not be allowed.

V. SHIPMENT PERIOD : 30 th April 2014 to 25 th May 2014.

VI. PRICE : To be quoted in US$ PMT FOBST Krishnapatnam port in bulk.

VII. QUANTITY WEIGHT /QUALITY :

Independent inspection agency nominated by the SUCCESSFUL BIDDER (Buyer) at Seller’s (PEC) costshall inspect cargo(es) at FCI/PEC godowns at port locations and mark the stocks/stacks and hand over thecargo(es) to nominated CHA of PEC for onward movement and loading into the Vessel(s). The sameinspection agency shall supervise the movement of cargo(es) from FCI godown(s) till loading into thevessel(s). The Inspection Report issued by same independent agency for quality at FCI godown(s) andquantity at load port shall be final and binding on both the parties.

VIII. FUMIGATION :

The cargo(es) shall be treated with fumigant Aluminum Phosphide @ up to 12 g PMT, intensive pipingmethod, without motors. For any other fumigations requirement, the bidder to bear additional charges.Fumigation shall be carried out by an efficient fumigation agency, preferably Central WarehousingCorporation (CWC), a Government of India Undertaking.

IX. INSURANCE :

Appropriate insurance, including but not limited to marine and war risks, strikes, riots, civil commotionsrisks to be effected by the Buyer with first class underwriters and/or approved companies at their cost.

Buyer shall supply Seller with confirmation and relevant details thereof like name of insurance company,insurance policy number, sum insured, validity, etc. at least 5 consecutive days prior to expected readinessof vessel(s). If Buyer fails to provide such confirmation Seller shall have the right to place such insuranceat Buyer’s risk and expense.

X. PAYMENT :

Buyer shall open, within a period of 7 days from the date of Letter of Award against this tender, anirrevocable and operative Letter of Credit (L/C) from prime/first class bank . The L/C shall be payable at

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sight for 100% value allowing TT reimbursement, within 3 working days, on confirmation by thenegotiating bank to the L/C opening bank that following L/C compliant documents have been received :

a. Commercial Invoice in Quadruplicate; b. Full set of ‘Clean shipped on Board’ Ocean Bill(s) of Lading;

c. Certificate of Origin issued by a recognized Chamber of Commerce in India in Triplicate;d. Certificate of Weight and Quality issued by nominated Inspection Agency;e. Fumigation Certificate;f. Phytosanitary Certificate;

Full set of documents shall mean to include only the above documents and any additional document(s), ifrequired by the buyer, shall be outside the purview of the L/C and PEC shall arrange such document(s), if

possible, at buyer’s cost.

All Banking charges in India to be for Seller’s account and all Banking charges outside India are for

Buyer’s account. XI. BID BOND :

The bids shall be accompanied by a BID BOND, as per the attached BID BOND Proforma (Annexure-1 )or Demand Draft made out in favour of “PEC Limited” payable at New Delhi, India, for at least 2% valueof the bid, in US Dollars only. Bid Bond shall be valid for a period of 30 days beyond the bid validity . BidBond/demand draft shall be returned to the unsuccessful bidders. The Bid Bond/Demand Draft shall notcarry any interest.

XII. PERFORMANCE BANK GUARANTEE :

The successful bidder (Buyer) is required to establish Performance Bank Guarantee (PBG) for 2% value ofthe contract (including + 10% tolerance), within five (5) working days from the date of Letter of Awardand valid upto Monday, 1 st December 2014. Upon acceptance of PBG, the Bid Bond/Demand Draft shall bereturned and shall not carry any interest. The BID BOND/Demand Draft of the successful bidder shall beforfeited/encashed without any notice if the successful bidder fails to furnish the required PerformanceBank Guarantee within stipulated time period as above.

The PBG should be in the prescribed format (Annexure-II) from or through any Nationalised/Prime/Firstclass Bank and issued by their correspondent Bank in India and the PBG should be encashable at the bank’scounter on first demand. The PBG shall be released on completion of Foreign Contract signed between

buyer and seller (hereinafter referred to as “Contract”) in all respects.

Invocation of Performance Bank Guarantee :

(i) PEC reserves the right to invoke the Performance Bank Guarantee if the successful bidder (Buyer)commits any breach of contract or fails to fulfill any term(s) or conditions of the Contract.

(ii) The Performance Bank Guarantee shall be released on successful and satisfactory execution of theContract. No claim shall be admissible against PEC in respect of interest on Performance Bank Guaranteeregardless of the time of its release.

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XIII. SHIPPING TERMS :

1. Buyer shall nominate seaworthy vessel(s), and intimate the following details of the vessel(s) at leastten (10) days prior to its arrival at the load port : Name of the vessel(s); ex-name(s) if any; Type of vessel(s); Flag of vessel(s); Year & month of built/Age of vessel(s); Classification - Lloyds’ Register or Equivalent; GRT/NRT/DWT; LOA; Beam; Holds/hatches; Number of hooks (in case of geared vessel(s)); Type, condition and capacity of gear/derricks/cranes; Name of Charterer/Disponent owners with full name & style; Details of P&I club for owners/charterers for cargo(es) indemnity cover current and validity of

planned voyage; Hull insurance particulars and validity of cover; Particulars of performance of vessel’s previous two voyages in immediate past, if performed;

Immediately on receipt of nomination of the vessel(s), the seller would check the details of thevessel(s), if found workable, the acceptance would be conveyed.

2. The buyer should ensure that the vessel is nominated well within the contractual shipment period sincethe seller will not be in a position to accept any extensions for the shipment period, to avoid resultant

effects on subsequent wheat export programme from the port.

3. Nominated Vessel(s) shall not be over 20 years of age. The vessel(s)’ hatches shall be dry and cleanand fit for loading cargo(es) duly certified by the nominated surveyor. The nominated vessel(s) must

be such that it can safely enter, berth, load and sail from load port(s) to open sea.

4. The nominated vessel(s) should be geared. Gearless vessel(s) shall be allowed subject to acceptance of port and PEC’s CHA , and if accepted, t he vessel(s) should provide free power to the grab(s). Hiringcharges for Crane(s) and/or grab(s) and/or any other equipment, as required, if any, shall be accordingto the port/CHA regulations and to the buye r’s account . The vessel(s) should be a bulk carrier(s). Notwin decker vessel(s) shall be accepted.

5. The nominated vessel(s) should have a clean record with no pending historical issues/disputes atKrishnapatnam Port or any other port in India. The seller shall not be responsible for any consequencesarising out of dubious history of the Shipping Company and/or the vessel(s) nominated by the buyer.The seller shall be fully indemnified against any damage/loss incurred due to any suchhistorical/pending issues/disputes in this regard.

6. Buyer shall ensure that vessel(s) fixed have full marine insurance cover for hull and machinery andP&I Insurance with P&I Club in the International Group of Clubs or in case of Chinese flag vessel(s)

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with China Ship owners Insurance Brokers and Protection and Indemnity Club to the effect that on thedate of fixture the vessel(s) possesses hull and machinery insurance and full P&I Insurance coverliability of the owner and or the Charterers.

7. Vessel shall load at an average rate of 6000 MT PWWD of 24 consecutive hours SHEXEIU for both

geared and gearless vessel(s).

The above is based on 5 working hatches and 4 hooks being made available for loading. If less than 5workable hatches and/or 4 hooks are made available, load rate shall be reduced pro-rata.

8. As the Cargo under the tender is offered through special provision and coming out of Government(FCI) Stocks, it is necessary that the vessel(s) nominated for loading of these cargoes transactedthrough PEC/FCI tenders must be exclusively for the quantity contracted in the tender. No Co-mingling of other wheat or any other commodity cargoes is permitted.

9. Vessel(s) shall give a 10 days’ a rrival notice to Seller at their New Delhi office, nominated CHAand/or to seller’s nominated representative(s) at Krishnapatnam Port. Thereafter 7 days followed by 5,

3, & 2 days and lastly 24 hours firm notices in writing should be given.

10. For each nominated vessel, Written Notice of Readiness (NOR) to load the cargo can be served at theload port only after the vessel has arrived at the port of loading, completed required port formalitiesand filed application for berthing, obtained all necessary clearances including Customs clearance,secured prior entry at Customs, arranged vessel cleanliness (including Hatch Inspections) certificatefrom the surveyor etc. and is ready in all respects for loading the cargo. Valid NOR duly signed by theMaster and/or Vessel(s) owner/Seller’s agent shall be deemed to be tendered only once the aboveformalities have been completed, and after a ll the hatches have been passed by the Buyer’s nominatedsurveyors for loading, and shall be served to the SELLER’S Head office and its nominated CHA agentat load port, Krishnapatnam.

11. At load port, all port dues and charges on the vessel(s) are to the account of ship-owners/Buyers.

12. Valid NOR is to be served between 1000 hours and 1700 hours IST on weekdays, between 1000 hoursand 1200 hours on Saturdays, but excluding Sundays, Charter Party holidays, port holidays and localholidays.

13. Lay time to commence 24 hours after a valid NOR is served. In the event of 24 hours period ending between:

1200 to 2400 hours on Saturday, Sunday/Charter Party Holidays/Port holidays/local holidays,

Between 1700 hours to 2400 hours on any working day,the lay time shall commence at 0800 hours the next working day.

14. The time taken by the vessel to move from the anchorage point to the berth shall not be counted as partof the lay-time. Similarly, in case vessel is required to shift from one berth to another berth, forwhatever reason(s) the time taken in shifting shall not be counted as lay-time. Time taken forfumigation shall also not constitute lay-time. Lay-time ceases on completion of loading.

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15. Arrival draft of the vessel(s) should not exceed permissible limit for berthing at Krishnapatnam port.Otherwise the buyer shall bear all costs borne by the seller to bring the vessel to a permissible limit ofdraft at the port.

16. Buyer is required to be fully aware of, and conversant with, the statutory requirements, features of the

port for accommodating vessel (s), for nominating suitable vessel(s), as also for pre and post berthing port charges etc. and shall be responsible for all matters relating to compliance, payments and whateverother requirements applicable to the vessel(s) at the port.

XIV. DEMURRAGE/ DESPATCH RATE :

Demurrage rate shall be fixed at US$ 10,000 per day or pro-rata. Despatch to be half the rate of demurrageWTS. Any claim for demurrage should be lodged within 15 days from date of B/L. Demurrage/ despatch to

be settled by respective parties within 60 DAYS of receipt of invoices and supporting documents.Statement of Facts to be signed by both parties or their agents and the Master of the vessel(s) immediately

upon completion of loading.

The seller reserves the right to ask for the Charter-party Agreement/Fixture Note for any vessel/shipment atany point of time.

XV. FORCE MAJEURE :

i. Seller shall not be liable for any loss, claims or demand of any nature whatsoever, and shall not bedeemed in breach of the contract because of any delay or failure in observing or performing any of theconditions or provisions thereof, if such delay or failure is caused by or arises out of any circumstanceswhatsoever beyond Seller’s control including (but without limiting the generality of the foregoing)declared or undeclared war, sabotage, blockade, revolution, police action, riots or disorders, embargoesor trade restrictions of any sort, Government or quasi Government action, acts of God, fire, flood,earthquakes, storms, tides or tidal waves, explosion, accident, radiation, strike, lockouts, or otherdisputes or epidemic.

ii. If by reason of any cause beyond the control of Seller, there is any curtailment or suspension ofsupplies of the product, then Seller shall be excused from the obligations to that extent and seller shallnot be bound to arrange supplies by way of purchase or otherwise additional quantities from othersuppliers.

iii.

If the operation of such conditions continue to exceed three months, either party shall have the right torefuse further performance of the Contract in which case neither party shall have the right to raise anyclaims/damages.

iv. The party which is unable to fulfill its engagement shall immediately inform the other party in writingof the existence and of the termination of the circumstances preventing the performance of theirobligation.

v. A certificate issued by the appropriate Chamber of Commerce shall be regarded as sufficient proof ofthe existence/termination of the circumstances in question and of their duration.

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XVI. ARBITRATION :

Any dispute or difference whatsoever arising between the parties out of or relating to the construction,meaning, scope, operation or effect of this Tender and the subsequent contract thereof or the validity or the

breach thereof shall be settled by Arbitration in accordance with Rules of Arbitration of Indian Council ofArbitration and the Award made in pursuance thereof shall be binding on the parties. The venue of theArbitration shall be New Delhi, India and Delhi Court shall have jurisdiction. The Indian Laws shall apply.

XVII. OTHER TERMS & CONDITIONS:

1. The proposed export cargo(es) is from FCI stocks at port locations as per the given specification atclause III.

2. The subject exports are subject to policy of Govt. of India from time to time.3. The current exports shall be independent of any previous ongoing/completed wheat contract that may

have been entered into between PEC and the bidder/buyer.

XVIII. GENERAL CONDITIONS :

1. Bids from bidders who have been blacklisted by Govt. of India/Govt. of India Agencies are liable to berejected.

2. Bids are to be made in the Price Bid format – Annexure-III.3. Bids incomplete or deficient in nature, received late and not accompanied by valid BID BOND/DEMAND

DRAFT and other documents, as required, are liable to be rejected. PEC reserves the right to reject any bid without assigning any reasons. Bid received by fax shall not be entertained.

4. Bidders to certify, as per Certificate - Annexure-IV, that the Bid is in complete conformity with tenderterms and conditions without any deviations, whatsoever. Bids with deviations are liable to be rejected.

5. If at a later date, it is found that any bidder has given incorrect and misleading information/document(s),PEC shall take suitable action including cancellation of contract, invocation of Performance BankGuarantee etc.

6. PEC reserves the rights to call for any additional information/documents from any bidder to this tender, andto be received by PEC in the time frame as desired by PEC.

7. The highest (H1) bidder shall be given the first opportunity to take the full quantity if the quantity quotedfor is less than the tendered quantity. In case there is some residual offered quantity which is not taken byH1, then the balance quantity shall be offered to the next eligible highest bidder (H2) provided he matchesthe price of H1. If still some quantity is left hereafter, the same shall be offered to H3 at H1 price. This

option however shall be restricted only upto H3.8. PEC reserves the right to cancel the tender in totality without assigning any reason.9. Bidder(s) may also check regularly PEC’s website i.e. www.peclimited.com for any amendment in the

Tender until the date of bid as any Tender conditions can be modified or date of submission of bids may getextended .

XIX. JURISDICTION

Conflicts, if any, shall be subject to the jurisdiction of Indian Laws at New Delhi courts.

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XX. DOCUMENTS CONSTITUTING CONTRACT :

The Invitation of Bids, the terms and conditions of Tender, Bid and Letter of Award issued by PEC alongwith any amendment issued prior to signing of contract shall be treated as an integral part of the Contract

between PEC and the successful Bidder (Buyer) .

XXI. SUBMISSION OF BIDS & VALIDITY

The bids complete in all respects, addressed to Chief Marketing Manager, Agro Commodities Division, PECLtd, “Hansalaya”, 15 -Barakhamba Road, New Delhi-110001 (India), should be deposited in sealed envelopein Tender Box at 13 th floor (Reception), at the above address latest by 1445 hours IST on Friday, 11 th April 2014 and offer to be valid till 1700 hours IST on Monday, 21 st April 2014.

The bids shall be opened at 1515 hours IST on Friday, 11 th April 2014 in PEC office at above address.Bidders or their authorized representatives may attend the opening of the tender.

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ANNEXURE-I

TENDER FOR EXPORT OF WHEAT FROM KRISHNAPATNAM PORT

TENDER NO. : PEC/WHEAT/EXP-II/2013-14/14 DATE: 20.03.2014

Tender Closing Time & Date: 1445 hours Indian Standard Time (IST) on Friday, 11 th April 2014

BID BOND PROFORMA

(To be executed by any Nationalized/Prime/First class Bank and issued by their Correspondent Bank in India andencashable at the counter of any bank in India)

M/s PEC LIMITED,‘HANSALAYA” 15-BARAKHAMBA ROAD,

NEW DELHI-110 001.

Dear Sirs,

WHEREAS M/s _________________________________hereinafter referred to as “Bidder” has offered to purchase a quantity of ___________MT of WHEAT from PEC LIMITED hereinafter refe rred to as “PEC “ and theBidder is required to submit a Bid Bond value of USD equivalent to 2% value of the BID as a guarantee forfulfillment of all the terms and conditions of bid, we (Bank with full address) hereby unconditionally andirrevocably guarantee and undertake to pay immediately on first demand by PEC the amount of US$

______________, in case the Bidder wants to withdraw the bid or fails to execute any term of bid or fails to perform any terms of the obligations after the acceptance of the bid, without any contestation, reservation, protest,demur and recourse to said Bidder. Any such demand in writing made by PEC shall be conclusive and binding onus irrespective of any dispute or difference raised by the Bidder. On receiving the demand from PEC the paymentshall be made immediately failing which interest @ 15% p.a. on monthly rest basis shall be payable by us from thedate of demand to the date of payment. This Guarantee shall be irrevocable and shall remain valid till ----------------------- at New Delhi.

Notwithstanding anything mentioned herein before, our liability under this Guarantee is restricted toUS$____________(US Dollar __________only) and it shall remain in force upto --------------------- in India tillmidnight unless a claim under the Guarantee is filed against us on or before midnight in India till ---------------, allyour rights under the said Guarantee shall be forfeited and we shall be relieved and discharged from all theliabilities thereunder. We, ___________Bank further agree that the Guarantee hereunder contained shall not beaffected by any change in the terms of the bid originally made by the Bidder and any change in the constitution ofsaid Bidder/PEC.

DATED: FOR

PLACE: BANK

N.B.: Bid bond to be furnished in US$ only. Bid bond in Indian Rupees shall not be accepted.

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ANNEXURE-II

TENDER FOR EXPORT OF WHEAT FROM KRISHNAPATNAM PORT

TENDER NO. : PEC/WHEAT/EXP-II/2013-14/14 DATE: 20.03.2014

Tender Closing Time & Date: 1445 hours Indian Standard Time (IST) on Friday, 11th

April 2014

PERFORMANCE BANK GUARANTEE FORMAT

(To be executed by any Nationalized/Prime/First Class Bank and issued by their correspondent Bank in India)

M/s PEC LIMITED,‘HANSALAYA” 15-BARAKHAMBA ROAD,

NEW DELHI-110 001.

1. Against LOA No. ______________________ Dated ___________ already signed, and the subsequentcontract to be entered into, between M/s PEC Limited (hereinafter called “SELLER”) andM/s________________________ (hereinafter called the Buyer); this is to confirm that at the request of theBuyer, we ___________ Bank unconditionally and irrevocably guarantee to pay to the Seller immediately onits first demand, the amount of US$ ___________ without any protest or demur, contestation or reference tothe Buyer, if the Buyer fails to perform all or any of its obligations under the said contract/LOA. Thedecision of the seller in writing to the bank that the buyer has failed to perform all or any of its obligationsunder the contract shall not be questioned and be final and conclusive. The said amount of US$

_______________shall accordingly forthwith be paid without any conditions or requirement of any proofwhatsoever failing which interest @ 15% p.a. on monthly rest basis shall be payable by us to the Seller fromthe date of demand to the date of payment.

2. It is fully understood that this guarantee is valid upto Monday, 1 st December 2014 and that we

_____________Bank undertake not to revoke this guarantee during its currency without the consent inwriting of the Seller.3. We, ________________Bank, further agree that the Seller shall have the fullest liberty, without affecting in

any manner or obligations hereunder to vary any of the terms and conditions of the said contract/LOA orextend time of performance by the Buyer from time to time or to postpone for any time or from time to timeany of the powers exercisable by the Seller against the said buyer and/or forebear to enforce any of the terms& conditions relating to the said contract and we, ________________Bank shall not be released from ourliabilities under this guarantee by reasons of any such variations or extension being granted to the said buyeror for any forbearance and/or commission on the part of the seller, or any indulgence by the seller to theBuyer or by any other matter or thing whatsoever which under the law relating to the sureties would, but forthis provision have the effect of so releasing us from our liability under this Performance Bank Guarantee.

4. We _______________________Bank further agree that the guarantee herein contained shall not be affected

by any change in the constitution of the said Buyer/Seller.5. The Guarantee shall be governed by Indian Laws and shall be subject to the jurisdiction of courts in NewDelhi, India alone.

6. Our liability under this Bank Guarantee shall not exceed USD __________.7. This Bank Guarantee shall be valid upto Monday, 1 st December 2014.

FOR ___________________________BANKACCEPTED

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Annexure-III

TENDER FOR EXPORT OF WHEAT FROM KRISHNAPATNAM PORT

TENDER NO. : PEC/WHEAT/EXP-II/2013-14/14 DATE: 20.03.2014

Tender Closing Time & Date: 1445 hours Indian Standard Time (IST) on Friday, 11 th April 2014

PRICE BID(To be completed by bidder)

A. Name of Bidder : ___________________________________________Address: _______________________________________________________________________Tel No. ___________Fax ____________Email____________

Contact Person: _____________________ ___________________(CELL NO.)

DETAILS OF BI D VALUE:

Demand Draft No Date Drawn on Amount (US$)

B. Quantity in MT and Price in USD PMT FOBST in bulk basis:

Shipment Period KRISHNAPATNAM Port

Quantity (MT)(+/- 10%)

FOBST PRICE INUSD PMT (in bulk)

30 th April 2014to 25 th May 2014

35,000

C. Name of three inspection agencies recommended by buyer for appointment by Seller :

1.

----------------------------- or2. ----------------------------- or3. -----------------------------

Name & Signature of the BidderWith seal of Designation

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