Common use of Bank Guarantee for Advanced Payment Clause in Contracts

Bank Guarantee for Advanced Payment. 42.1 Except when the interests of UNDP so require, it is UNDP’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at xxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP _DOCUMENT_LIBRARY/Public/PSU_Contract%20Management%20Payment%20 and%20Taxes_Advanced%20Payment%20Guarantee%20Form.docx&action=de fault

Bank Guarantee for Advanced Payment. 42.1 1.95 Except when the interests of UNDP so require, it is UNDP’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at xxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP _DOCUMENT_LIBRARYxxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/UND P_POPP_DOCUMENT_LIBRARY/Public/PSU_Contract%20Management%20Payment%20 and%20Taxes_Advanced%20Payment%20Guarantee%20Form.docx&actionPSU_Contract%20Management% 20Payment%20and%20Taxes_Advanced%20Payment%20Guarantee%2 0Form.docx&action=de faultdefault

Bank Guarantee for Advanced Payment. 42.1 Except when the interests of UNDP so require, it is UNDP’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at xxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP _DOCUMENT_LIBRARYxxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/U NDP_POPP_DOCUMENT_LIBRARY/Public/PSU_Contract%20Management%20Payment%20 and%20Taxes_Advanced%20Payment%20Guarantee%20Form.docx&actionPSU_Contract%20Manage ment%20Payment%20and%20Taxes_Advanced%20Payment%20Gua rantee%20Form.docx&action=de faultdefault

Bank Guarantee for Advanced Payment. 42.1 1.95 Except when the interests of UNDP so require, it is UNDP’s 's standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at xxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP _DOCUMENT_LIBRARYxxxxx://xxxx.xxxx.xxx/_layouts/15/WopiFrame.aspx?sourcedoc=/UND P_POPP_DOCUMENT_LIBRARY/Public/PSU_Contract%20Management%20Payment%20 and%20Taxes_Advanced%20Payment%20Guarantee%20Form.docx&actionPSU_Contract%20Management% 20Payment%20and%20Taxes_Advanced%20Payment%20Guarantee%2 0Form.docx&action=de faultdefault