Common use of GOOD PERFORMANCE BOND Clause in Contracts

GOOD PERFORMANCE BOND. In addition to the provisions of art. 19 “Financial Guarantee” of the General Part, the amount of the Good Performance Bond of the Agreement is 10% (5% - IMM) of the contract value, excluding VAT. The Good Performance Bond shall be established as follows: a) by an instrument of guarantee issued under the conditions of the law by a bank or an insurance company and it shall be considered as an annex of the agreement. The guarantee instrument shall be submitted in original at the headquarters of Enel and it shall include the following, as a compulsory condition:  the Contracting Parties (Insurer/Bank - the issuer of the policy, Insured-Contractor, Beneficiary-Enel  the obligation of the bank or of the insurance company to pay in favour of Enel, any amount up to the limit of the Good Performance Bond, unconditionally/conditioned, accompanied by a statement regarding the failure of the Contractor to fulfil its obligations, any eventual payments to be made within the term specified in the request, with no further formalities from Enel or the Contractor;  the period of validity of the Good Performance Bond. Good Performance Bonds shall be returned upon request, in writing, to the Contractor as follows: (1) In case of supply contract, Enel has the obligation to issue/return the Good Performance Bond within no more than 14 days following the date of the products acceptance report covered by the agreement and/or following payment of the final invoice, if, until that date, any claims were not raised concerning it. (2) In case of service contract, Enel has the obligation to issue/return the Good Performance Bond within no more than following the date of completion by the Contractor of its obligations taken by this agreement, if, until that date, any claims were not raised concerning it. (3) In case of Design Contracts, Enel has the obligation to issue/return the Good Performance Bond as follows: a) the value of the Good Performance Bond related to pre-feasibility and/or feasibility surveys within 14 days following the date of delivery and receipt/approval of the respective technical and economic documentation, if, until that date, any claims were not raised concerning it; b) the value of the Good Performance Bond related to the technical documentation and/or performance details, within 14 days following the conclusion of the report at the completion of works executed in accordance with the related project, if, until that date, any claims were not raised concerning it. (4) In case of works contracts, Enel has the obligation to issue/return the Good Performance Bond as follows: a) 70% of the Good Performance Bond value, following the conclusion of the report at the completion of works executed and commissioning of such works, if the acceptance is performed without any reserves and the risk for latent defects is minimum; b) the remaining of 30% of the Good Performance Bond value, at the expiry date of the works performed, based on the final acceptance report. In case the Contractor chooses to establish the Good Performance Bond by a letter of guarantee, it shall be able to choose the following methods to establish the guarantee to indicate the two distinct periods mentioned above in par.

GOOD PERFORMANCE BOND. 16.1. In addition to the provisions of art. 19 “Financial GuaranteeFINANCIAL GUARANTEE” of the General Part, the amount of the Good Performance Bond of the Agreement is 10% (5% - IMM) of the contract value, excluding VAT. 16.2. The Good Performance Bond shall be established as follows: a) by an instrument of guarantee issued under the conditions of the law by a bank or an insurance company and it shall be considered as an annex of the agreement. The guarantee instrument shall be submitted in original at the headquarters of Enel and it shall include the following, as a compulsory condition:  the Contracting Parties (Insurer/Bank - the issuer of the policy, Insured-Contractor, Beneficiary-Enel  the obligation of the bank or of the insurance company to pay in favour of Enel, any amount up to the limit of the Good Performance Bond, unconditionally/conditioned, accompanied by a statement regarding the failure of the Contractor to fulfil its obligations, any eventual payments to be made within the term specified in the request, with no further formalities from Enel or the Contractor;  the period of validity of the Good Performance Bond. Good Performance Bonds shall be returned upon request, in writing, to the Contractor as follows: (1) In case of supply contract, Enel has the obligation to issue/return the Good Performance Bond within no more than 14 days following the date of the products acceptance report covered by the agreement and/or following payment of the final invoice, if, until that date, any claims were not raised concerning it. (2) In case of service contract, Enel has the obligation to issue/return the Good Performance Bond within no more than following the date of completion by the Contractor of its obligations taken by this agreement, if, until that date, any claims were not raised concerning it. (3) In case of Design Contracts, Enel has the obligation to issue/return the Good Performance Bond as follows: a) the value of the Good Performance Bond related to pre-feasibility and/or feasibility surveys within 14 days following the date of delivery and receipt/approval of the respective technical and economic documentation, if, until that date, any claims were not raised concerning it; b) the value of the Good Performance Bond related to the technical documentation and/or performance details, within 14 days following the conclusion of the report at the completion of works executed in accordance with the related project, if, until that date, any claims were not raised concerning it. (4) In case of works contracts, Enel has the obligation to issue/return the Good Performance Bond as follows: a) 70% of the Good Performance Bond value, following the conclusion of the report at the completion of works executed and commissioning of such works, if the acceptance is performed without any reserves and the risk for latent defects is minimum; b) the remaining of 30% of the Good Performance Bond value, at the expiry date of the works performed, based on the final acceptance report. In case the Contractor chooses to establish the Good Performance Bond by a letter of guarantee, it shall be able to choose the following methods to establish the guarantee to indicate the two distinct periods mentioned above in par. (4) a) and b). It shall either request the issuing bank the issuance of two letters of guarantee with different validity periods, but which together can cover the value and validity indicated above or it shall request a single letter of guarantee for the entire period of validity, and at the first instalment reimbursement, it shall request the bank to amendment thereto for the period and the amount remaining. Enel shall not deliver the original letter until the expiry of 24 months guarantee period for the works performed, thus the additions of the letter shall be requested to the bank without submitting of the original thereof. Enel has the right to raise claims on the Good Performance Bond, within the limit of the damage caused if the Contractor fails to fulfil its obligations taken in accordance to this contract. Prior to issuing a claim on the Good Performance Bond, Enel has the obligation to communicate this to the Contractor, specifying the obligations which have not been observed.

GOOD PERFORMANCE BOND. In addition to the provisions of art. 19 “Financial Guarantee” of the General PartGENERAL PART, the amount of the Good Performance Bond of the Agreement is 10% (5% - IMM) of the contract value, excluding VAT. The Good Performance Bond shall be established as follows: a) by an instrument of guarantee issued under the conditions of the law by a bank or an insurance company and it shall be considered as an annex of the agreement. The guarantee instrument shall be submitted in original at the headquarters of Enel and it shall include the following, as a compulsory condition:  the Contracting Parties (Insurer/Bank - the issuer of the policy, Insured-Contractor, Beneficiary-Beneficiary- Enel  the obligation of the bank or of the insurance company to pay in favour of Enel, any amount up to the limit of the Good Performance Bond, unconditionally/conditioned, accompanied by a statement regarding the failure of the Contractor to fulfil its obligations, any eventual payments to be made within the term specified in the request, with no further formalities from Enel or the Contractor;  the period of validity of the Good Performance Bond. Good Performance Bonds shall be returned upon request, in writing, to the Contractor as follows: (1) In case of supply contract, Enel has the obligation to issue/return the Good Performance Bond within no more than 14 days following the date of the products acceptance report covered by the agreement and/or following payment of the final invoice, if, until that date, any claims were not raised concerning it. (2) In case of service contract, Enel has the obligation to issue/return the Good Performance Bond within no more than following the date of completion by the Contractor of its obligations taken by this agreement, if, until that date, any claims were not raised concerning it. (3) In case of Design Contracts, Enel has the obligation to issue/return the Good Performance Bond as follows: a) the value of the Good Performance Bond related to pre-feasibility and/or feasibility surveys within 14 days following the date of delivery and receipt/approval of the respective technical and economic documentation, if, until that date, any claims were not raised concerning it; b) the value of the Good Performance Bond related to the technical documentation and/or performance details, within 14 days following the conclusion of the report at the completion of works executed in accordance with the related project, if, until that date, any claims were not raised concerning it. (4) In case of works contracts, Enel has the obligation to issue/return the Good Performance Bond as follows: a) 70% of the Good Performance Bond value, following the conclusion of the report at the completion of works executed and commissioning of such works, if the acceptance is performed without any reserves and the risk for latent defects is minimum; b) the remaining of 30% of the Good Performance Bond value, at the expiry date of the works performed, based on the final acceptance report. In case the Contractor chooses to establish the Good Performance Bond by a letter of guarantee, it shall be able to choose the following methods to establish the guarantee to indicate the two distinct periods mentioned above in par. (4) a) and b). It shall either request the issuing bank the issuance of two letters of guarantee with different validity periods, but which together can cover the value and validity indicated above or it shall request a single letter of guarantee for the entire period of validity, and at the first instalment reimbursement, it shall request the bank to amendment thereto for the period and the amount remaining. Enel shall not deliver the original letter until the expiry of 24 months guarantee period for the works performed, thus the additions of the letter shall be requested to the bank without submitting of the original thereof. Enel has the right to raise claims on the Good Performance Bond, within the limit of the damage caused if the Contractor fails to fulfil its obligations taken in accordance to this contract. Prior to issuing a claim on the Good Performance Bond, Enel has the obligation to communicate this to the Contractor, specifying the obligations which have not been observed.