Letter of Commitment for Bank’s undertaking for Line of Credit (Form PW3-7)
Invitation Reference No: ——————, Date:————–
Tender Package No:
Lot No:
To
——-
Credit Commitment No: —————-, Dated: ——————
We have been informed that [Insert the company name, address] intends to submit to you its Invitation Reference No:—————-, Date: ———-, Tender Package No: ——-, Lot No: ———- for the execution of the works of “Insert the works name or supply name.” under the above invitation for Tenders hereinafter called “The IFT”.
Furthermore, we understand that, according to your conditions, the Tenderer’s financial capacity i.e. Liquid Asset must be substantiated by a letter of commitment of banks undertaking for line of credit.
At the request of, and arrangement with, the Tenderer, we, [Insert the Bank Name and address] do hereby agree and undertake [Insert the company name, address] will be provided by us with a revolving line of credit, in case awarded the contract, for execution of the works viz. “Insert the works name or supply name.” for an amount not less than BDT. ————— only for the sole purpose of the execution of the above contract. This revolving line of Credit will be maintained by us until issuance of “Taking-Over Certificate” by procuring Entity.
In witness whereof, authorized representative of the Bank hereunto signed and sealed this letter of commitment.