Section 3. Notwithstanding anything contained herein,

13. Notwithstanding anything contained herein, a. the liability of the bank under this bank guarantee shall not exceed the Guarantee Amount. b. This bank guarantee shall be valid up to the Expiry Date. 3. The Bank hereby waives the necessity for the Director, Mines /Deputy Commissioner from demanding the aforesaid amount or any part thereof from the Successful Bidder and also waives any right that the Bank may have of first requiring the Director, Mines/Deputy Commissioner to pursue its legal remedies against the Successful Bidder, before presenting any written demand to the Bank for payment under this Guarantee.