Bank Guarantee for Advanced Payment. Except when the interests of UNDP so require, it is the UNDP’s preference to make no advanced payment(s) on contracts (i.e., payments without having received any outputs). In the event that the Proposer requires an advanced payment upon contract signature, and if such request is duly accepted by UNDP, and the said advanced payment exceeds 20% of the total proposal price, or exceed the amount of USD 30,000, UNDP shall require the Proposer to submit a Bank Guarantee in the same amount as the advanced payment. A bank guarantee for advanced payment shall be furnished in the form provided in Section 10.
Appears in 18 contracts
Samples: Travel Management Services Agreement, Long Term Agreement for Audit Services, Request for Proposals
Bank Guarantee for Advanced Payment. Except when the interests of UNDP so require, it is the UNDP’s preference to make no advanced payment(s) on contracts (i.e., payments without having received any outputs). In the event that the Proposer Bidder requires an advanced payment upon contract signature, and if such request is duly accepted by UNDP, and the said advanced payment exceeds 20% of the total proposal Bid price, or exceed the amount of USD 30,000, UNDP shall require the Proposer Bidder to submit a Bank Guarantee in the same amount as the advanced payment. A bank guarantee for advanced payment shall be furnished in the form provided in Section 10.
Appears in 15 contracts
Samples: Long Term Agreement for Provision of Travel Management Services, Long Term Agreement for Travel Management Services, Long Term Agreement for Provision of Services
Bank Guarantee for Advanced Payment. Except when the interests of UNDP so require, it is the UNDP’s preference to make no advanced payment(s) on contracts (i.e., payments without having received any outputs). In outputs).In the event that the Proposer Bidder requires an advanced payment upon contract signature, and if such request is duly accepted by UNDP, and the said advanced payment exceeds 20% of the total proposal Bid price, or exceed the amount of USD 30,000, UNDP shall require the Proposer Bidder to submit a Bank Guarantee in the same amount as the advanced payment. A bank guarantee for advanced payment shall be furnished in the form provided in Section 10.
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