Bank Guarantee for Advance Payment Sample Clauses

Bank Guarantee for Advance Payment. [The bank, as requested by the successful Bidder, shall fill in this form in accordance with the instructions indicated.] Date: [insert date (as day, month, and year) of Bid Submission] ONB No. and title: [insert number and title of bidding process] [bank’s letterhead] Beneficiary: [insert legal name and address of Procuring Entity] ADVANCE PAYMENT GUARANTEE No.: [insert Advance Payment Guarantee no.] We, [insert legal name and address of bank], have been informed that [insert complete name and address of Supplier] (hereinafter called "the Supplier") has entered into Contract No. [insert number] dated [insert date of Agreement] with you, for the supply of [insert types of Goods to be delivered] (hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, an advance is to be made against an advance payment guarantee. At the request of the Supplier, we hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [insert amount(s)3 in figures and words] upon receipt by us of your first demand in writing declaring that the Supplier is in breach of its obligation under the Contract because the Supplier used the advance payment for purposes other than toward delivery of the Goods. It is a condition for any claim and payment under this Guarantee to be made that the advance payment referred to above must have been received by the Supplier on its account [insert number and domicile of the account] This Guarantee shall remain valid and in full effect from the date of the advance payment received by the Supplier under the Contract until [insert date4]. This Guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 458. _____________________ [signature(s) of authorized representative(s) of the bank]
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Bank Guarantee for Advance Payment. 8.1 The Contractor shall, within the timeframe specified in the Letter of Acceptance and no later than the date of signature of this Agreement, furnish the Centre with an unconditional bank guarantee (the “Bank Guarantee”) in the amount equivalent to US$....................
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Bank Guarantee for Advance Payment. (if applicable)
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Bank Guarantee for Advance Payment. When there is an agreement to have Advance payment, this form must be duly completed.
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Bank Guarantee for Advance Payment. The Contractor shall, within the timeframe specified in the NoA and no later than the date of signature of this Agreement, furnish IOM with an unconditional bank guarantee in the amount equivalent to 5-30% of the Contract Price (the “Bank Guarantee”). The Bank Guarantee shall be in a form and by a bank acceptable to IOM in an amount and currency equal to the advance payment. The amount of the Bank Guarantee shall not be construed as the limit of the Contractor’s liability to IOM in any event. The Bank Guarantee shall be effective from the date of the release of cash advance as per Article 4.1 of this Agreement until the date of the provisional acceptance as per Articles 4.6 or 4.7.
Sample 1
Bank Guarantee for Advance Payment. (To be stamped in accordance with Indian Stamp Act) Bank Guarantee No. Valid upto Date : Amount : To The National institute of Ocean Technology Velachery-Tambaram Road, Pallikaranai Chennai – 600 100 Dear Sirs, In consideration of NATIONAL INSTITUTE OF OCEAN TECHNOLOGY, having its office at Xxxxxxxxx-Xxxxxxxx Xxxx, Xxxxxxxxxxxx , Xxxxxxx – 600 100, herein after refers to as the “Owner” which expression shall unless repugnant to the context or meaning thereof, include all successors, administrators, executors and assigns having award to M/s……………………………………….. having its Registered / Head Office at …………………………. (hereinafter referred to as “Contractor” which expression shall unless repugnant to the context or meaning thereof, include its successors, administrators, executors and assigns) a contract by issue of Owner’s Purchase Order No. …… dated and the same having been unequivocally accepted by the Contractor, resulting into a contract valued at Rs…………………………….(Rupees ………………… only) for supply of ………………………………………. (herein after called the “Contract”). And whereas the Owner has agreed in pursuance of the terms and conditions of the contract to make an advance payment of …… % ( percent) of the total base value of the contract to the contractor against Bank Guarantee. Now, we ………..(name of the Bank, address) having its Head Office at ………….. Bank (hereinafter referred to as the “Bank” which expression shall unless repugnant to the context or meaning thereof, include its successors, administrators, executors and assigns) do hereby guarantee and undertake to pay the Owner immediately on demand any or, all monies payable to the contractor to the extent of Rs…………… (Rupees Only) at any time upto ………. without any demur, reservation, recourse, contest or protest and/or without any reference to the contractor. Any such demand made by the Owner on the Bank shall be conclusive and binding not withstanding any difference between the Owner and the Contractor or any dispute pending before, any court, Tribunal, Arbitrator or any other authority. We agree that the Guarantee herein contained shall be irrevocable and shall continue to be enforceable till the Owner discharges this Guarantee. The Owner shall have the fullest liberty without affecting in any way the liability of the Bank under this Guarantee from time to time to vary the advance or to extend the time of delivery of the Contract. The Owner shall have the fullest liberty without affecting this Guarantee, to postpone from t...
Sample 1
Bank Guarantee for Advance Payment. To: [name of Employer] (Date) [address of Employer] Gentlemen, Ref: [name of Contract] In accordance with the provisions of the Conditions of Contract of the above-mentioned Contract, We, [name and Address of Contractor] (hereinafter called “the Contractor”) shall deposit with [name of Employer] a bank guarantee to guarantee his proper and faithful performance under the said Contract in an amount of Kshs. [amount of Guarantee in figurers] Kenya Shillings [amount of Guarantee in words]. We, [bank or financial institution], as instructed by the Contractor, agree unconditionally and irrevocably to guarantee as primary obligator and not as Surety merely, the payment to [name of Employer] on his first demand without whatsoever right of objection on our part and without his first claim to the Contractor, in the amount not exceeding Kshs [amount of Guarantee in figures] Kenya Shillings [amount of Guarantee in words], such amount to be reduced periodically by the amounts recovered by you from the proceeds of the Contract. We further agree that no change or addition to or other modification of the terms of the Contract or of the Works to be performed thereunder or of any of the Contract documents which may be made between [name of Employer] and the Contractor, shall in any way release us from any liability under this guarantee, and we hereby waive notice of any such change, addition or modification. No drawing may be made by you under this guarantee until we have received notice in writing from you that an advance payment of the amount listed above has been paid to the Contractor pursuant to the Contract. This guarantee shall remain valid and in full effect from the date of the advance payment under the Contract until (name of Employer) receives full payment of the same amount from the Contract. Yours faithfully, Signature and Seal Name of the Bank or financial institution Address Date Witness: Name: Address: Signature: Date: TENDER QUESTIONNAIRE Please fill in block letters.
Sample 1
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Related to Bank Guarantee for Advance Payment

  • Advance Payment The right to indemnification conferred in this Article VII shall include the right to be paid or reimbursed by the Company the reasonable expenses incurred by a Person of the type entitled to be indemnified under Section 7.3 who was, is or is threatened to be made a named defendant or respondent in a Proceeding in advance of the final disposition of the Proceeding and without any determination as to the Person’s ultimate entitlement to indemnification; provided, however, that the payment of such expenses incurred by any such Person in advance of the final disposition of a Proceeding shall be made only upon delivery to the Company of a written affirmation by such Person of his or her good faith belief that he has met the standard of conduct necessary for indemnification under Article VII and a written undertaking, by or on behalf of such Person, to repay all amounts so advanced if it shall ultimately be determined that such indemnified Person is not entitled to be indemnified under this Article VII or otherwise.

  • Performance Bank Guarantee 4.2.1 The Performance Bank Guarantee furnished by Power Producer to GUVNL shall be for guaranteeing the commissioining / commercial operation of the project up to the Contracted Capacity within SCOD.

  • NO ADVANCE PAYMENT No advance payments shall be made for any products or services furnished by Contractor pursuant to this Master Contract.

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • Performance/Bid Bond and Letter Of Credit There are no bonds required for the Contract resulting from this Solicitation. In accordance with Appendix B, section 45, Performance/Bid Bond, the Commissioner of OGS has determined that no performance, payment or Bid bond, or negotiable irrevocable letter of credit or other form of security for the faithful performance of the Contract shall be required at any time during the initial term, or any renewal term, for the resulting Contract and Authorized User Agreements.

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Advance Payments Payments made by the Borrower to satisfy future installments must be accounted for as prepaid installments of principal and interest. The Servicer should contact the Borrower if there is a question about the Borrower's intention in making any unscheduled payment.

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Money Back Guarantee If we provide a money back guarantee ("MBG") for your Service, it will begin on your Service Ready Date. During this MBG period you may cancel your Service and receive a full refund of all monthly, one-time and equipment charges paid to Verizon (provided you return all Equipment in good working condition). If you fail to return the Equipment, an unreturned Equipment fee will apply. ETFs will not apply to Service terminated within the MBG period. The MBG does not apply to customers who change between or renew bundle, monthly, term or other pricing plans. The MBG is limited to one per Subscriber per Service type per Service address.

  • Cash Advance Fee If you request a Cash Advance, in addition to the Interest Charge which will accrue on the Cash Advance, you agree to pay a fee of three percent (3%) of the amount of the Cash Advance subject to a minimum fee of $10.00.

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