Common use of Advance Payment Security Clause in Contracts

Advance Payment Security. 13.1 The Contractor shall provide an advance payment security issued by a Japanese financial institution, which secures the repayment of any sum advanced by the Client upon the Contractor’s defaults from the date of the advance payment to the date of issue of the certificate of completion of the Work for each Term. 13.2 The amount of the advance payment security shall be the sum in short deducting the amount which corresponds to the percentage of completion of the Work from the total amount of payments already executed to the Contractor. The Contractor may reduce the amount of advance payment security after the execution of each payment stipulated in the Article 7 thereof. （注：例えば、契約認証時に 40％、出来高 50％達成時に 30％を支払う場合、既契約額は 40％+30％で 70％なので、出来高 50％との差額 20％の保証としてもよい。） 13.3 Prior to requesting the advance payment, the Contractor shall provide the advance payment security and the Consultant shall have the custody of the advance payment security. Such security shall be returned to the Contractor immediately after the issue of the certificate of completion of the Work for each Term. 13.4 In making a claim under the advance payment security, the Client shall notify the Japanese financial institution in writing, stating the nature of the default and the amount of damages in respect of the claim. 13.5 The amount to be paid under the claim shall be the amount of the actual damage incurred, and in no case shall it exceed the amount of the advance payment security for each Term.

Advance Payment Security. 13.1 15.1 The Contractor shall provide an advance payment security issued by a Japanese financial institution, which secures the repayment of any sum advanced by the Client upon the Contractor’s defaults from the date of the advance payment to the date of issue of the certificate of completion of the Construction Work for each Term. 13.2 15.2 The amount of the advance payment security shall be the sum in short deducting the amount which corresponds to the percentage of completion of the Work from the total amount of payments already executed to the Contractor. The Contractor may reduce the amount of advance payment security after the execution of each payment stipulated in the Article 7 9 thereof. （注：例えば、契約認証時に 40％、出来高 50％達成時に 30％を支払う場合、既契約額は 40％+30％で 70％なので、出来高 50％との差額 20％の保証としてもよい。） 13.3 15.3 Prior to requesting the advance payment, the Contractor shall provide the advance payment security and the Consultant shall have the custody of the advance payment security. Such security shall be returned to the Contractor immediately after the issue of the certificate of completion of the Construction Work for each Term. 13.4 15.4 In making a claim under the advance payment security, the Client shall notify the Japanese financial institution in writing, stating the nature of the default and the amount of damages in respect of the claim. 13.5 15.5 The amount to be paid under the claim shall be the amount of the actual damage incurred, and in no case shall it exceed the amount of the advance payment security for each Term.

Advance Payment Security. 13.1 15.1 The Contractor shall provide an advance payment security issued by a Japanese financial institution, which secures the repayment of any sum advanced by the Client upon the Contractor’s defaults from the date of the advance payment to the date of issue of the certificate of completion of the Construction Work for each Term. 13.2 15.2 The amount of the advance payment security shall be the sum in short deducting the amount which corresponds to the percentage of completion of the Work from the total amount of payments already executed to the Contractor. The Contractor may reduce the amount of advance payment security after the execution of each payment stipulated in the Article 7 9 thereof. （注：例えば、契約認証時に 40％、出来高 50％達成時に 30％を支払う場合、既契約額は 40％+30％で 70％なので、出来高 50％との差額 20％の保証としてもよい注：例えば、契約認証時に40％、出来高50％達成時に30％を支払う場合、既契約額は40％+30％で70％なので、出来高50％との差額20％の保証としてもよい。） 13.3 15.3 Prior to requesting the advance payment, the Contractor shall provide the advance payment security and the Consultant shall have the custody of the advance payment security. Such security shall be returned to the Contractor immediately after the issue of the certificate of completion of the Construction Work for each Term. 13.4 15.4 In making a claim under the advance payment security, the Client shall notify the Japanese financial institution in writing, stating the nature of the default and the amount of damages in respect of the claim. 13.5 15.5 The amount to be paid under the claim shall be the amount of the actual damage incurred, and in no case shall it exceed the amount of the advance payment security for each Term.

Advance Payment Security. 13.1 The Contractor shall provide an advance payment security issued by a Japanese financial institution, which secures the repayment of any sum advanced by the Client upon the Contractor’s defaults from the date of the advance payment to the date of issue of the certificate of completion of the Work for each Term. 13.2 The amount of the advance payment security shall be the sum in short deducting the amount which corresponds to the percentage of completion of the Work from the total amount of payments already executed to the Contractor. The Contractor may reduce the amount of advance payment security after the execution of each payment stipulated in the Article 7 thereof. （注：例えば、契約認証時に 40％、出来高 50％達成時に 30％を支払う場合、既契約額は 40％+30％で 70％なので、出来高 50％との差額 20％の保証としてもよい注：例えば、契約認証時に40％、出来高50％達成時に30％を支払う場合、既契約額は40％+30％で70％なので、出来高50％との差額20％の保証としてもよい。） 13.3 Prior to requesting the advance payment, the Contractor shall provide the advance payment security and the Consultant shall have the custody of the advance payment security. Such security shall be returned to the Contractor immediately after the issue of the certificate of completion of the Work for each Term. 13.4 In making a claim under the advance payment security, the Client shall notify the Japanese financial institution in writing, stating the nature of the default and the amount of damages in respect of the claim. 13.5 The amount to be paid under the claim shall be the amount of the actual damage incurred, and in no case shall it exceed the amount of the advance payment security for each Term.