Bid Bond
Policy No. HDO/200/0078/2024
NAME OF CONTRACT: NAMWAYA ENTERPRISES LTD PO BOX 2496 KITALE
NEGOTIATION NUMBER:1592753-2024/2025
EMPLOYER: COUNTY GOVERNMENT OF BUNGOMA
WHEREAS NAMWAYA ENTERPRISES LTD PO BOX 2496 KITALE (herein after
called “the bidder”) has submitted its Bid dated 11.07.2024 for the performance of
the above named Contract (hereinafter called “the bid”).
KNOW ALL MEN by these presents that We The Monarch Insurance Company
Limited of P.O. Box 44003 – 00100 Nairobi (hereinafter called the “the
Insurer”), are bound unto THE COUNTY GOVERNMENT OF BUNGOMA (Herein
after called “the Employer”) in the sum of kshs. 120,000/= (Kenya Shillings One
Hundred and Twenty Thousand Only) for which payment will be well and truly
made to the said Employer, the Insurer binds itself, its successors, and assigns by
these presents.
TENDER : Upgrading of Mashinani Primary and Namarambi dispensary Boreholes in
Soysambu Mitua/Ndivisi Ward
Sealed with the Common seal of the said Insurer on 04th July, 2024
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 Form, or
2. If the Bidder, having been notified of the acceptance of its Bid by the
Procuring Entity during the period of bid validity;
a) fails or refuses to sign the Contract Agreement when required or
b) fails or refuses to furnish the Performance Security in accordance with
the instructions of the tenderers;
c) Rejects a correction of an arithmetic error in the tender.
We undertake to pay to the Employer up to the above amount upon receipt of its
first written demand, without the Employer having to substantiate his demand,
provided that in its demand the Employer will note that the amount claimed by him
is due to him, owing to the occurrence of any of the above conditions, specifying the
occurred condition or conditions.
This guarantee will remain in force up to and including (120) days from the day of
opening of this tender
