Down Payment Guarantee Clause Samples
A Down Payment Guarantee clause ensures that the buyer’s initial payment is protected and will be refunded if certain contractual conditions are not met. Typically, this clause requires the seller or a third-party guarantor to hold the down payment in escrow until the transaction’s key obligations are fulfilled, such as the delivery of goods or completion of services. Its core function is to provide security for the buyer, reducing the risk of financial loss if the seller fails to perform as agreed.
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Down Payment Guarantee. Before payment by ISR of the Down Payment specified in Section 9 above, and as a condition thereto, the Supplier shall furnish ISR with an irrevocable autonomous bank guarantee in the full amount of such Down Payment in the form attached hereto as Annex G1 (the "Down Payment Guarantee").
Down Payment Guarantee. Before payment by ISR of the Down Payment specified in Section 11 above and as a condition thereto, Supplier shall furnish ISR with an irrevocable autonomous bank guarantee in the full amount of such Down Payment (the "Down Payment Guarantee"). In the event, that Supplier shall supply both PRRV and TRRV {in accordance with the outcome of the Tender], then the Down Payment Guarantee shall reflect both the PRRV and TRRV Price.
Down Payment Guarantee. Before payment by ISR of the Down Payment specified in Section 10 above (either for the Pilot Order, the Initial Purchase Price Order, the Additional PCM Purchase Order), and as a condition thereto, the Supplier shall furnish ISR with an irrevocable autonomous bank guarantee in the full amount of such Down Payment in the form attached hereto as Annex G1 (the "Down Payment Guarantee").
Down Payment Guarantee. Before payment by ISR of the Down Payment specified in Section 9 above, and as a condition thereto, the Supplier shall furnish ISR with an irrevocable autonomous bank guarantee in the full amount of such Down Payment in the form attached hereto as Annex G1 (the "Down Payment Guarantee"). In the event, that Supplier shall supply both 25 tons Cranes and 150 ton Crane { in accordance with the outcome of the Tender}, then the Down Payment Guarantee shall be in the sum of both the 25 tons Cranes Price and 150 ton Crane Price.