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The Bank Guarantee Letter For Tender is a crucial document in Hong Kong's commercial and public procurement landscape, commonly required when participating in significant tenders or bidding processes. It provides financial security to tender issuers by ensuring that participants maintain their bid commitments and proceed with the contract if successful. The guarantee amount typically ranges from 1% to 5% of the tender value, depending on the tender requirements. This document, governed by Hong Kong law, includes specific details such as the tender reference, guarantee amount, validity period, and claim conditions. It's particularly important in large-scale projects where tender issuers need protection against non-serious bidders or potential defaults. The bank guarantee serves as a form of risk management tool, giving tender issuers the confidence that they can claim compensation if a successful bidder fails to proceed with the contract or withdraws their bid inappropriately.

1. Letter Header: Bank's letterhead, reference number, date, and contact details

2. Addressee Details: Full name and address of the beneficiary (tender issuer)

3. Tender Reference: Clear reference to the specific tender number and title

4. Guarantee Amount: The specific amount of the guarantee in figures and words

5. Principal Details: Details of the tender participant (bank's client) on whose behalf the guarantee is issued

6. Guarantee Declaration: Clear statement of the bank's irrevocable and unconditional guarantee

7. Validity Period: Specific start and end dates of the guarantee

8. Claim Conditions: Terms and process for making a claim under the guarantee

9. Governing Law: Statement that the guarantee is governed by Hong Kong law

10. Bank Signature: Authorized signatures and bank stamp section