📍 When to use this template
- On contract signing + 14 days of receipt of advance BG.
- Tracking recovery against each RA bill until full recovery.
- Audit + reconciliation by client finance + statutory audit.
- Closeout reconciliation at handover.
Sections & fields
Preview of the template structure. Download Excel to fill on site.
1Advance Application Header5 fields
Contract Reference
_____________
Date of Application
_____________
Type of Advance (Mobilisation / Plant / Material)
_____________
Amount Applied (₹)
_____________
% of Contract Value
_____________
2Bank Guarantee Details6 fields
BG Number + Issuing Bank
_____________
BG Value (= Advance Amount + 10 % margin typical)
_____________
BG Period (Validity)
_____________
BG Type (Unconditional / Demand)
_____________
Counter-guarantee (if applicable)
_____________
BG Verification by Bank (Y/N)
_____________
3Recovery Schedule6 fields
Recovery Method (Equal monthly / Percentage of RA bill)
_____________
Recovery Start (RA Bill No.)
_____________
Recovery Rate (% per RA bill)
_____________
Total Recovery Months
_____________
Last Recovery RA Bill No.
_____________
Interest Charged (if applicable)
_____________
4Recovery Tracking (per RA Bill)7 fields
RA Bill Date
_____________
Cumulative Bill Value to Date
_____________
Recovery This Bill
_____________
Cumulative Recovery
_____________
Outstanding Advance Balance
_____________
BG Released % to Date
_____________
5BG Release Triggers3 fields
Trigger 1: Recovery > 50 % → BG reduced by 50 %
_____________
Trigger 2: Recovery 100 % → Full BG release
_____________
Project Completion → All BG released (with Performance BG separate)
_____________
💡 Sample filled excerpt
Advance: ₹4.5 cr mobilisation (10 % of ₹45 cr contract). BG: SBI BG #2026-XXXX, ₹4.95 cr, valid till 31-Dec-2027. Recovery: 1 % per RA bill from RA #4 onwards. Status at RA #15: Recovered ₹3.6 cr (80 %), BG reduced to ₹0.99 cr.
⚖ Compliance notes
- Advance payment under FIDIC 14.2 attracts interest from date of disbursement at the contract-specified rate (typically SBI MCLR + 1-2 %); often interest-free for first 6 months.
- BG validity must always exceed advance recovery completion date + 60-90 days safety margin.
- GFR Rule 226 / 227 (for government projects) governs limits on mobilisation advance (typically 10 %, max 20 % with justification).
- Material advance is typically against ICOI (Insured Custody of Items) at site — separate from mobilisation advance.
- BG renewal 30 days before expiry is the contractor's obligation; failure can lead to BG encashment + advance recovery from running bills.