Labora International Trading PLC

Bid Security

Doc No: MKT/FT/07 – VS: 01/0907

Date: ______________________

N/ICB No.: ______________________

Invitation for Bid No.: ______________________

To: ____________________________________________________________________

Whereas Labora International Trading PLC (hereinafter "The Bidder") has submitted its bid dated ______________ for N/ICB No.__________ for the supply of ______________________________________________________ hereinafter called "The Bid".

KNOW ALL PEOPLE by these present that WE ___________________________ of ______________________________________ having our registered office at ______________________________________ (hereinafter "the Guarantor"), are bound unto ___________________________________ (hereinafter "the Purchaser") in the sum of _____________________________________ for which payment well and truly to be made to the aforementioned Purchaser, the Guarantor binds itself, its successors, or assignees by these presents. Sealed with the Common Seal of this Guarantor this _____________________ day of ________________________.

THE CONDITIONS of this obligation are the following:

1. If the Bidder withdraws its bid during the period of bid validity specified by the Bidder in the Bid Submission Sheet, except as provided in ITB Sub-Clause __________ or
2. If the Bidder, having been notified of the acceptance of its bid by the Purchaser, during the period of the bid validity, fails or refuses to:

(a) execute the Contract; or

(b) furnish the Performance Security, in accordance with the ITB Clause ______ or

(c) accept the correction of its bid by the Purchaser, pursuant to ITB Clause _______

We undertake to pay the Purchaser up to the above amount upon receipt of its first written demand, without the Purchaser having to substantiate its demand, provided that in its demand the Purchaser states that the amount claimed by it is due to it, owing to the occurrence of one or more of the above conditions, specifying the occurred conditions.

This security shall remain in force up to and including _______ days after the period of bid validity, and any demand in respect thereof should be received by the Guarantor no later than the above date.

Name_____________________ In the capacity of ________________ Signed ________

Duly authorized to sign the bid security for and on behalf of:_______________________

Dated on _______________________________ Day of __________________________.