Bank guarantee

A Bank-guarantee is a kind of promise which the Bank makes to the beneficiary to pay a certain amount on  notice of demand from the beneficiary. Thus its a contract between the Bank and the beneficiary. Please check with your Bank regarding the Stamp-paper value. Also, Take a clariification from the company in case there is discrepency in the amount quoted by your Bank and that mentioned in the Tender. The beneficiary can reject your Bid in case the stamp-paper value mentioned in the tender is in order as per UP laws. As regards jurisdiction, it must be a clause in the Tender and the jurisdiction must be lying with UP Courts. So the laws of UP shall prevail.