3) Bank Guarantee formatAnnexure I BANK GUARANTEE (for Domestic Agents) 1.In consideration of Indian Railway Catering & Tourism Corporation Limited, New Delhi (hereinafter called the IRCTC, New Delhi) which expression unless otherwise repugnant to the context and meaning thereof, shall mean and include its successors and assigns dated _ for marketing/ booking of IRCTC Tourism Products and other services with M/s. _(here-in-after called the said licensee(s) which expression unless otherwise repugnant to the context and meaning thereof, shall mean and include its successors and assigns) for production of Bank Guarantee to the extent of Rs. 20,000/- by way of security to pay the amount due and payable to IRCTC. We, _ Bank (here-in-after referred to as “the bank”) which expression unless otherwise repugnant to the context and meaning thereof, shall mean and include its successors and assigns at the request of M/s. _ licensee (s) do hereby irrevocably and unconditionally guarantee to the IRCTC that the bank shall pay without demur the said amount of security deposit and dues whenever called upon to pay by IRCTC.2. We, _ Bank do hereby undertake to pay the amounts due and payable valid from _ to _, without any demur, merely on a demand form the IRCTC, New Delhi, stating that the amount claimed is due by way of loss or damages caused to or would be caused to or suffered by the IRCTC, New Delhi. Any such demand made on the bank shall be conclusive as regards the amount due and payable by the Bank under this guarantee where the decision of the IRCTC, New Delhi in these counts shall be final and binding on the bank. However, our liability under this guarantee shall be restricted to an amount not exceeding Rs. 20000/- (Twenty Thousand Only).3. We undertake to pay to the IRCTC, New Delhi any money so demanded, notwithstanding any disputes raised by the licensee (s) in any suit or proceeding pending before any court of tribunal relating thereto our liability under the present being absolute and equivocal. The payment so made by us under this bond shall be in valid discharge of our liability for payment there under and the licensee (s) shall have no claim against us for making such payment.(a) We, the Bank, hereby further undertake to pay as primary obligor and not merely a security to pay such sums not exceeding Rs. 20000/- to the IRCTC, immediately without any demur, objectionable and without reference to licensee and without questioning the right of the IRCTC to make such demand or the propriety or legality of the demand, merely on demand of the IRCTC stating that the amount claimed is due by way of failure of the licensee to pay the due amount.4.We, _ Bank further agree that the guarantee herein contained shall remain in full force and effect till the dues by the said licensee and further agreed to extend the same from time to time. 5.We, _ Bank further agree that IRCTC, New Delhi shall have the fullest liberty without our consent and without affecting in any manner our obligations here under to vary and we shall not be relieved from our liability by reasons of any such variation or extension being granted to the said licensee (s) or for any forbearance and or any omission on the part of the IRCTC, New Delhi or any indulgence by the IRCTC, New Delhi to the said licensee (s) or by any such matter or thing whatsoever which under the law relating to sureties would, but for this provision, have effect of so relieving us.(a) Any claim, which the Bank has against the licensee shall be subject and subordinate to the prior payment and in full satisfaction of all the obligations towards IRCTC. The bank will not exercise any legal right or remedy of any kind in respect of any payment against the licensee so long as the obligation of the Bank under this guarantee remains owing and outstanding.(b) This guarantee shall be irrevocable and the obligations of the Bank herein shall not be conditional to any prior notice by the IRCTC.6.This guarantee will not be discharged due to the change in the constitution of the Bank or the license (s).7.We, _ Bank undertake not to revoke this guarantee during its currency except with the previous consent of the IRCTC in writing.NOTWITHSTANDING ANYTHING CONTAINED HEREIN:Our liability under this Bank Guarantee shall not exceed the sum of Rs. 20,000/- (Rupees Twenty Thousand only).This Bank Guarantee shall be valid up to _We are liable to pay the guaranteed amount or any part thereof under this Bank Guarantee only and only if IRCTC serves upon us a written claim or demand on or before _Dated: