Definition
ePBG is the performance security the winning seller furnishes after the contract is awarded, as a bank guarantee issued electronically through the bank. It covers the buyer if the seller fails to perform. The percentage of contract value, validity period and deadline for submission are stated in the bid. It is released after the contract and warranty obligations are completed.
In simple words
ePBG jeetne ke baad ki guarantee hai — 'main kaam theek se karunga', bank ke zariye.
Related terms
Guides on this topic
This is a general explanation. Confirm exact limits, percentages and timelines in the bid document and on gem.gov.in.
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