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To
The President of India
Acting through The Telegraph Authority
In consideration of the President of India acting
through the DDG/Director, TERM Cell (......................), Department of
Telecommunications (DoT), Government of India,
....................................................................................(office
address) (hereinafter called the ‘Authority’) having issued Registrations for
Domestic OSP and International OSP to M/s.
……………….. having it’s registered office at ……………………. (hereinafter called ‘OSP’)
to establish, maintain and operate Domestic and International OSP
Centers and the OSP having agreed to the terms and condition of ‘Other
Service Provider Category’ as appended in the schedule of the agreement for sharing
the common infrastructure facility (hereinafter called ‘the facility’) between
OSP’s Domestic & International OSP centres at …………………... (give location
address of the registered OSP centres where sharing of common infrastructure is
proposed) and as per the Letter of Intent No------------------------------
dated ………… and agreement, to be executed as provided alongwith Letter of
Intent, between Authority and OSP along with the terms and conditions of the
‘other service provider category’, appended in the schedule thereto
(hereinafter called the ‘Agreement’) which, inter-alia, provides for production
of a Bank Guarantee to the extent of Rs 50,00,000/- (Rupees Fifty Lakhs
only) by way of security for due observance and performance of terms and
conditions contained therein. We …………………….. (indicate the name and address and
other particulars of the Bank) (hereinafter referred to as ‘Bank’) at the
request of the OSP hereby irrevocably and unconditionally guarantee to the
Authority that the OSP shall abide by the terms and conditions as
contained in the Agreement.
2. We, the Bank, hereby undertake to pay to the
Authority an amount not exceeding Rs 50,00,000/- (Rupees Fifty Lakhs only) against violation of the
agreement and / or the terms and conditions of the ‘Other Service Provider
Category’ by reasons of any failure of the OSP to abide by any terms and
conditions of the Agreement, including modifications thereof from time to time.
3. We, the Bank, hereby further undertake to pay as surety such sum not
exceeding Rs 50,00,000/- (Rupees Fifty Lakhs only) without demur to the
Authority immediately on demand that the amount claimed is due on account of
failure of OSP to abide by the terms and conditions of the Agreement.
4. WE, THE BANK , DO HEREBY DECLARE AND AGREE that the decision of the
Authority as to whether OSP has failed to abide by any terms and conditions of
the Agreement and as to the amount payable to the Authority by the Bank
hereunder shall be final and binding on us.
5. WE, THE BANK, DO HEREBY DECLARE AND AGREE that the
a) Guarantee herein contained shall remain in
force and effect for a period of three years from the date hereof or till the
validity of the Agreement whichever is later.
b) The Authority shall
have the fullest liberty without our consent and without affecting in any
manner this agreement or obligations hereunder to vary any of the terms and conditions for Other Service
Provider category or the terms and conditions of the Agreement or to extend
time of performance of any obligations by the said OSP from time to time or to
postpone for any time or from time to time any of the powers exercisable by the
Authority against the said OSP and to forbear or to enforce any of the terms and
conditions relating to the Other Service Provider category or the said terms
and conditions of Registration and we shall not be relieved from our
liability by reason of any variation or extension being granted to the said OSP
or forbearance act or omission on the part of the Authority or any indulgence
by the Authority to the said OSP or to give such matter or thing whatsoever
which under the law relating to sureties would but for this provision, have
effect of so relieving us.
c) Any claim which we have
against the OSP shall be subject and subordinate to the prior payment and
performance in full of all the obligations of us hereunder and we will not
without prior written consent of the Authority exercise any legal right or
remedy of any kind in respect of any such payment or performance so long as the
obligations of us hereunder remains owing and outstanding.
d) This Guarantee
will not be discharged due to the change in the constitution of the Bank or the
OSP.
Dated……………..day…………………
for ………………………………..
(name of the Bank)
Witness :
1…………………………………….
2. …………………………………...
