Advance Payment Guarantee Clause Samples
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Advance Payment Guarantee. The Advance Payment Guarantee shall guarantee the set-off or repayment of the advance payment. Within 10 Working Days upon confirmation of DDO by the Provider or Provider Affiliate, the Contractor shall provide a bank guarantee letter to Enel or Enel Affiliate for the amount specified in Part A of the relevant DDO, valid until full set-off or repayment of the advance payment (“Advance Payment Guarantee”).
a) be issued by a reputable bank of the Country with a minimum rating of BBB-S&P or Baa3 ▇▇▇▇▇'▇;
b) have an unconditional and irrevocable character;
c) be issued for the benefit of Enel or Enel Affiliate; and
d) be payable on first demand by Enel or Enel Affiliate submitting a written statement to the issuing bank stating that it has the right of repayment of the advance payment.
Advance Payment Guarantee. As a precondition to payment to the Contractor of an advance payment according to this Agreement, if provided for under this Agreement, the Contractor shall furnish to ISR a guarantee for the full amount of such advance payment (hereinafter: the “Advance Payment Guarantee”).
Advance Payment Guarantee. To ensure the proper utilization of the advance payments that THE CONTRACTING PARTY makes, THE CONTRACTOR will deliver on behalf of THE CONTRACTING PARTY, prior to receiving them, the bank guarantee/s for an amount equivalent to the total of the advance payment; that is, 40 % of the contract amount. The guarantee/s will be reduced to the extent that the advance payment is amortized, until its/their total payment.
Advance Payment Guarantee. Is the joint, unconditional, irrevocable letter of guarantee, without benefit of excuse or division, and automatic enforceable in favor of FITEL, that THE CONTRACTOR shall deliver at the moment that ▇▇▇▇▇ defines to ensure the correct use of advance payment referred in Paragraph 11.6.1 of BASES, that will be done in favor of THE CONTRACTOR in case it requested it in the Form No. 1 of Exhibit No. 5 of the BASES. It must be issued in accordance with the conditions established in the BASES.
Advance Payment Guarantee. 23.1.1. As a condition of the payment of the Advance Payment the Supplier will provide the IAA with an irrevocable, autonomous, unconditional guarantee for the amount of 10% of the Stage A Construction Price, in the form of Annex "F" (the "Advance Payment Guarantee").
23.1.2. The Advance Payment Guarantee will be returned to the Supplier 30 days following the completion of SAT of Stage A (Milestone No. 4.2).
Advance Payment Guarantee. If the employer requires the contractor to provide an advance payment guarantee, the contractor shall provide the advance payment guarantee 7 days before the employer pays the advance payment, unless otherwise agreed in the Special Contract Terms. The advance payment guarantee may be in the form of a bank guarantee, a guarantee company guarantee, etc., which shall be agreed upon by the parties to the contract in the Special Contract Terms. Before the advance payment is fully deducted, the contractor shall ensure that the advance payment guarantee remains valid. After the employer deducts the advance payment from the project payment in installments, the advance payment guarantee amount should be reduced accordingly, but the remaining advance payment guarantee amount shall not be less than the advance payment amount that has not been deducted.
Advance Payment Guarantee. If the Particular Conditions state that this clause 4.7 applies, UNICEF shall make an advance payment for the percentage of the Contract Price stated in the Particular Conditions after the Contractor submits an executed advance payment guarantee in the form at Appendix 2 (“Advance Payment Guarantee”), from such surety or sureties as shall be approved by UNICEF. The Contractor shall ensure that the Advance Payment Guarantee is valid and enforceable until the advance payment has been repaid in full (and shall extend the Advance Payment Guarantee as necessary in order to do so). Any advance payment shall be repaid on the basis stated in the Particular Conditions. If the advance payment is to be repaid through deductions from invoices at a rate stated in the Particular Conditions, the advance payment shall be deducted as follows:
(a) UNICEF shall commence deducting the advance payment from the first accepted invoice in accordance with the Schedule of Payments; and
(b) Deduction shall be made at the rate stated in the Particular Conditions from the amount of each invoice (excluding the advance payment) until such time as the advance payment has been repaid. Any remaining balance from the advance payment which has not been recovered by UNICEF on i) termination of this Contract, or ii) the issue of the Certificate of Substantial Completion in accordance with clause 6.1 shall be repaid or paid to UNICEF immediately.
Advance Payment Guarantee. If the Particular Conditions state that clause 10.4 applies, as a condition precedent for payment by UNICEF of any advance payment for which the percentage of the Contract Price stated in the Particular Conditions (“Advance Payment”) in accordance with clause 10.4, the Contractor shall submit an executed advance payment guarantee in the form at Appendix 2, from such surety or sureties as shall be approved by UNICEF (“Advance Payment Guarantee”). The Contractor shall ensure that (the Advance Payment Guarantee is valid and enforceable until the Advance Payment has been repaid in full (and shall extend the Advance Payment Guarantee as necessary in order to do so).
Advance Payment Guarantee. The following provisions shall apply to the advance payment and the advance bank payment guarantee:
(1) An advance payment of 20% of the contract amount shall be made within three
(3) weeks after the receipt of an advance payment guarantee by the Supplier.
(2) The advance bank payment guarantee shall be in the amount and in the currency of the advance payment.
(3) The bank guarantee will be released upon acceptance of the goods at ASR/BSI Sugar Factory Cogeneration Plant at Tower Hill, Orange Walk District
Advance Payment Guarantee. 21.1.1. As a condition of the payment of the Advance Payment (for Phase 1 and Phase 3) the Contractor will provide the IAA with an irrevocable, autonomous, unconditional guarantee for the amount of 20% of the Lump Sum Price for the Advance Payment for Phase 1 and 10% of the Lump Sum Price for the Advance Payment for Phase 3, in the form of Annex "G" (the "Advance Payment Guarantee").
21.1.2. The Advance Payment Guarantee will be returned to the Contractor following completion of the Site Acceptance Test and the issuance of a Final Acceptance Certificate.