Performance Guarantee

After a contractor wins a tender, the employer (for example a government office or project owner) usually requires a performance guarantee before signing the contract. It is typically a percentage of the contract value, as specified in the bidding documents and procurement rules, and it remains valid until the work is completed or through a defects liability period.

If the contractor abandons the work, delays seriously or fails to meet specifications, the employer can claim under the guarantee. Most performance guarantees are demand guarantees, payable on written demand, although some are conditional and require proof of default.

From the bank's side, the guarantee is a non-funded facility. The bank assesses the contractor's technical and financial capacity, takes a cash margin and/or counter-guarantee and collateral, and charges commission. If the guarantee is invoked, the bank pays and recovers the amount from the contractor as a loan.

In Nepal, performance guarantees are widely used in public procurement under the Public Procurement Act, 2063 and its rules, and banks issue them following NRB's directives on guarantee business.

ठेक्का पाएपछि सम्झौता गर्नुअघि रोजगारदाता (सरकारी कार्यालय वा परियोजना धनी) ले प्रायः कार्यसम्पादन जमानत माग्छ। रकम बोलपत्र कागजात र खरिद नियमअनुसार सम्झौता मूल्यको निश्चित प्रतिशत हुन्छ र काम सम्पन्न वा त्रुटि सच्याउने अवधिसम्म बहाल रहन्छ।

ठेकेदारले काम छाडे, गम्भीर ढिलाइ गरे वा गुणस्तर पूरा नगरे रोजगारदाताले दाबी गर्न सक्छ। अधिकांश माग जमानत हुन्छन्।

बैंकका लागि यो गैरकोषमा आधारित सुविधा हो: ठेकेदारको क्षमता मूल्याङ्कन, नगद मार्जिन, काउन्टर-जमानत, धितो र कमिसन लिइन्छ। दाबी भए भुक्तानी गरी ठेकेदारबाट कर्जाका रूपमा असुल गरिन्छ। नेपालमा सार्वजनिक खरिद ऐन, २०६३ अन्तर्गत व्यापक प्रयोग हुन्छ।