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 on its own Letter Head
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Bank Guarantee for Advance Payment. (if applicable) 8.1 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 [percentage] of the Contract Price (the “Bank Guarantee”). 8.2 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. 8.3 The amount of the Bank Guarantee shall not be construed as the limit of the Contractor’s liability to IOM in any event. 8.4 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.
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Bank Guarantee for Advance Payment. [The bank, as requested by the successful Bidder, shall fill in this form in accordance with the instructions indicated.] [bank’s letterhead] 1 The Bank shall insert the amount(s) specified in the SCC and denominated, as specified in the SCC. 2 Dates established in accordance with Clause 17.4 of the General Conditions of Contract (“GCC”), taking into account any warranty obligations of the Supplier under Clause 15.2 of the GCC intended to be secured by a partial Performance Guarantee. The Procuring Entity should note that in the event of an extension of the time to perform the Contract, the Procuring Entity would need to request an extension of this Guarantee from the Bank. Such request must be in writing and must be made prior to the expiration date established in the Guarantee. In preparing this Guarantee, the Procuring Entity might consider adding the following text to the Form, at the end of the penultimate paragraph: “ We agree to a one-time extension of this Guarantee for a period not to exceed [six months] [one year], in response to the Procuring Entity’s written request for such extension, such request to be presented to us before the expiry of the Guarantee.” 3 The bank shall insert the amount(s) specified in the SCC and denominated, as specified in the SCC. 4 Insert the Delivery date stipulated in the Contract Delivery Schedule. The Procuring Entity should note that in the event of an extension of the time to perform the Contract, the Procuring Entity would need to request an extension of this Guarantee from the bank. Such request must be in writing and must be made prior to the expiration date established in the Guarantee. In preparing this Guarantee, the Procuring Entity might consider adding the following text to the Form, at the end of the penultimate paragraph: “We agree to a one-time extension of this Guarantee for a period not to exceed [six months][one year], in response to the Procuring Entity’s written request for such extension, such request to be presented to us before the expiry of the Guarantee.”
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Bank Guarantee for Advance Payment. To: [name of Employer] (Date) 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 Signature: Date: Please fill in block letters.
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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.
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Bank Guarantee for Advance Payment. (To be stamped in accordance with Indian Stamp Act)
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Bank Guarantee for Advance Payment. To Managing Director, ASTC Paltanbazar,Guwahati-08 Gentlemen: In accordance with the provisions of contract, sub-clause 51.1 ("Advance Payment") of the above mentioned Contract, [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 Clause of the Contract in an amount of [amount of Guarantee] Rs. Rupees [in words]. We, the [bank of financial institution], as instructed by the Contractor, agree unconditionally and irrevocably to guarantee as primary obligator and not as surely merely, the payment to [name of Employer] on his first demand without whatsoever right of obligator on our part and without his first claim to the Contractor, in the amount not exceeding [amount of guarantee]* [in words]. We further agree that no change or addition to or other modification of the terms of the Contractor or Works to be performed there under or any of the Contract documents which may be made between This guarantee shall remain valid and in full effect from the date of the advance payment under the Contract until [name of the Employer] receives full repayment of the same amount from the Contractor. Yours Truly, Name of Bank/ Financial Institution: Address: Date: INDENTURE FOR SECURED ADVANCES [FORM 31]‌ This indenture made the day of , 20 BETWEEN
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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. When there is an agreement to have Advance payment, this form must be duly completed.
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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.

  • Letter of Credit Payments If any draft shall be presented for payment under any Letter of Credit, the Issuing Lender shall promptly notify the Borrower of the date and amount thereof. The responsibility of the Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are substantially in conformity with such Letter of Credit.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • PAYMENT OF LOAN FEE Borrower shall pay to Lender a fee in the amount of One Thousand Five Hundred and 00/100 Dollars ($1,500.00) (the "Loan Fee") plus all out-of-pocket expenses.

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

  • Cash Collateral, Repayment of Swing Line Loans If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.15.

  • 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.

  • Cash Collateral, Repayment of Swingline Loans If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10.

  • Letter of Credit Fees, Interest Rate The Letter of Credit Fees and the rate of interest for each Loan otherwise applicable pursuant to Section 2.9.2 [Letter of Credit Fees] or Section 4.1 [Interest Rate Options], respectively, shall be increased by 2.0% per annum;

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

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