Common use of Financial Guarantee Clause in Contracts

Financial Guarantee. If requested by the Company, Contractor shall be obliged to provide a financial guarantee in favour of the Company as indicated in the Agreement, as a guarantee for the obligations arising from the Agreement. The existence of a guarantee does not mean that the Contractor’s liability is limited to the amount or period of validity thereof. If the total value of the Agreement were to increase during its execution, the Company may ask the Contractor to provide a complementary financial guarantee with the same conditions indicated in the preceding sub-clauses. The costs of the financial guarantee shall be borne by Contractor.