Mobilization Advance. The Authority shall, on request of the Concessionaire, make an advance payment in a sum not exceeding 10% (ten per cent) of the Bid Project Cost (the “Mobilization Advance”). This advance payment shall be made in two equal instalments. The Concessionaire may request the Authority for the first instalment of the advance payment at any time after the Appointed Date, along with furnishing an e-Bank Guarantee in a form satisfactory to the Authority. The Concessionaire may request the Authority for the second instalment of the advance payment at any time, after 60(sixty) days from the Appointed Date, along with furnishing an e-Bank Guarantee in a form satisfactory to the Authority. The first and second instalments of the Mobilization Advance shall be paid by the Authority within 30 (thirty) days of receipt of the respective requests in this behalf from the Concessionaire. The rate of interest on the Mobilization Advance shall be equal to the average of one year MCLR of top 5 Scheduled Commercial Banks9 plus 1.25%, compounded annually. The Mobilization Advance shall be deducted 9 The authority shall declare the list of Top 5 Scheduled Commercial Banks on 1st September every calendar year based on the balance sheet size as declared in their annual reports. The 1 year MCLR of the top 5 scheduled commercial banks shall be taken at the start of every quarter. by the Authority in 8 (eight) equal instalments from each of the payments to be made by the Authority to the Concessionaire in accordance with the provisions of Clause 23.4 and the interest thereon shall be recovered from the 9th (ninth) and 10th (tenth) instalments. As the advance get recovered from the running bills/ stage payments, the e-Bank Guarantee for the amount equivalent to the amount of advance recovered may be released on the request of the Concessionaire. The Concessionaire would be at liberty to either submit a substitute e-Bank Guarantee for the residual amount or multiple e-BGs for such residual amount in replacement of the existing e-BG.
Mobilization Advance. Where Contract amount as mentioned in the Letter of Award exceeds rupees ten million, the Client may, on the request of the Contractor and recommendations of the Consultants, sanction mobilization advance up to ten (10) percent of the Contract Price stated in the Letter of Award shall be paid by the Client to the Contractor in two equal parts upon submission by the Contractor of a Mobilization Advance Guarantee for the amount equal to the first part only and subsequently the second part amount Guarantee when second part become due from a Schedule Bank approved by the State Bank of Pakistan.
Mobilization Advance. On the application by the contractor, mobilization advance to the extent of five percent of the value of the work may be paid to the contractor at an interest of eighteen percent per annum after the fulfillment of the following conditions before payment :-
Mobilization Advance. The Authority shall, on request of the Concessionaire, make an advance payment in a sum not exceeding 10% (ten per cent) of the Bid Project Cost (the “Mobilization Advance”). This advance payment shall be made in two equal instalments. The Concessionaire may request the Authority for the first instalment of the advance payment at any time after the Appointed Date, along with furnishing a Bank Guarantee in a form satisfactory to the Authority. The Concessionaire may request the Authority for the second instalment of the advance payment at any time, after 60(sixty) days from the Appointed Date, along with furnishing a Bank Guarantee in a form satisfactory to the Authority. The first and second instalments of the Mobilization Advance shall be paid by the Authority within 30 (thirty) days of receipt of the respective requests in this behalf from the Concessionaire. The rate of interest on the Mobilization Advance shall be equal to the Bank Rate, compounded annually. The Mobilization Advance shall be deducted by the Authority in 4 (four) equal instalments from each of the payments to be made by the Authority to the Concessionaire in accordance with the provisions of Clause 23.4 and the interest thereon shall be recovered as the 5th (fifth) and final instalment upon expiry of 120 (one hundred and twenty) days commencing from the date of recovery of the 4th (fourth) instalment.
Mobilization Advance. The Concessionaire shall provide to the Authority no later than 7 (seven) days from the Effective Date, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to the Mobilization Advance in the form set forth in Schedule 8 (the “Mobilization Advance Security”). The Mobilization Advance shall not bear any interest. The Authority shall, on request of the Concessionaire, made at any time after submission of the Mobilization Advance Security, make an advance payment in a sum not exceeding 10% (ten per cent) of the EPC Quote stated in the Composite Quote (the “Mobilization Advance”). The Mobilization Advance shall be paid by the Authority within 7 (seven) days from the date of receipt of the request from the Concessionaire. The Mobilization Advance shall be deducted by the Authority from the payments made to the Concessionaire in accordance with the provisions of Article 22.1.8.
Mobilization Advance. 5% of the Contract Price on submission of Irrevocable Bank Guarantee on completion of Mobilization.
Mobilization Advance. The Authority shall, on request of the Concessionaire, made within 30 (thirty) days from the Appointed Date, and upon the Concessionaire furnishing a Bank Guarantee for a sum equal to 11% (eleven per cent) of the Bid Project Cost in a form satisfactory to the Authority, make an advance payment equal to 10% (ten per cent) of the Bid Project Cost (the “Mobilization Advance”). The Mobilization Advance shall be paid by the Authority within 30 (thirty) days of receipt of a request in this behalf from the Concessionaire. The rate of interest charged on the Mobilization Advance shall be 9.75% per annum. Such Mobilization Advance shall be deducted by the Authority along with the interest at 9.75% per annum in 3 (three) equal instalments from each of the payments to be made by the Authority to the Concessionaire in accordance with the provisions of Clause 21.3.
Mobilization Advance. The Authority shall, on request of the Contractor, make an advance payment in a sum not exceeding 10% (ten per cent) of the Bid Project Cost (the “Mobilization Advance”). This advance payment shall be made in two equal installments. The Contractor may request the Authority for the first installment of the advance payment at any time after the Appointed Date, along with furnishing a Bank Guarantee in a form satisfactory to the Authority. The Contractor may request the Authority for the second installment of the advance payment at any time, after obtaining the approval for Design and on approved submission of Drawings to the Engineer-in- chief. The first and second installments of the Mobilization Advance shall be paid by the Authority within 30 (thirty) days of receipt of the respective requests in this behalf from the Contractor. The rate of interest on the Mobilization Advance shall be equal to the Bank Rate, compounded annually. The Mobilization Advance shall be deducted by the Authority in 4 (four) equal installments from each of the payments to be made by the Authority to the Contractor in accordance with the provisions of Clause 22.3 and the interest thereon shall be recovered as the 5th (fifth) and final installment upon expiry of 120 (one hundred and th twenty) days commencing from the date of recovery of the 4 (fourth) installment.
Mobilization Advance. Mobilization Advance equivalent up to 10% of the Contract Sum against submission of Bank Guarantee from Scheduled Bank at issuance of Work Order and signing of Contract Agreement will be paid by the Employer. The recovery of Mobilization Advance will start from 1st monthly payment onwards on pro-rata basis in such a way that total Mobilization Advance to get recovered by the time 80% of the work is completed. Simple Interest of 12% shall be charged on Mobilization Advance. The Contractor to submit a Bank Guarantee of equivalent amount as per enclosed Proforma and Bank Guarantee shall be released on recovery of equivalent Advance.
Mobilization Advance. (i) 10 % of the Jagjeetpur Bid Project Cost and 10% of the Sarai Bid Project Cost shall be payable to the Concessionaire as the Mobilization Advance, within 30 days from the Effective Date, subject to the Concessionaire having submitted a Mobilization Advance Guarantee in accordance with Clause 5.16. The Concessionaire is liable to simple interest at the rate of 8% on the Mobilization Advance, which amount shall be deducted along with the Mobilization Advance from the Construction Payments..
