Common use of Pre-financing and performance guarantees Clause in Contracts

Pre-financing and performance guarantees. Pre-financing guarantees shall remain in force until the pre-financing is cleared against payment of the balance and, in case the latter takes the form of a debit note, three months after the debit note is notified to the contractor. The contracting authority shall release the guarantee within the following month. Performance guarantees shall cover delivery of supplies and performance of the related services in accordance with the terms set out in the tender specifications until their final acceptance by the contracting authority. The amount of the performance guarantee shall not exceed the total price of the order form. The guarantee shall provide that it remains in force until final acceptance. The contracting authority shall release the guarantee within a month following the date of final acceptance. Where, in accordance with Article I.4, a financial guarantee is required for the payment of pre- financing, or as performance guarantee, it shall fulfil the following conditions:

Pre-financing and performance guarantees. Pre-financing guarantees shall remain in force until the pre-financing is cleared against payment of the balance and, in case the latter takes the form of a debit note, three months after the debit note is notified to the contractor. The contracting authority shall release the guarantee within the following month. Performance guarantees shall cover delivery of supplies and performance of the related services in accordance with the terms set out in the tender specifications until their final acceptance by the contracting authority. The amount of the performance guarantee shall not exceed the total price of the order form. The guarantee shall provide that it remains in force until final acceptance. The contracting authority shall release the guarantee within a month following the date of final acceptance. Where, in accordance with Article I.4, a financial guarantee is required for the payment of pre- pre-financing, or as performance guarantee, it shall fulfil the following conditions:

Pre-financing and performance guarantees. Pre-financing guarantees shall remain in force until the pre-financing is cleared against payment of the balance and, in case where the latter takes the form of a debit note, for three months after the debit note is has been notified to the contractor. The contracting authority shall release the guarantee within the following month. Performance guarantees shall cover delivery of supplies goods and performance of the related services services, in accordance with the terms set out in the tender specifications specification, until their final acceptance by the contracting authority. The amount of the performance guarantee shall not exceed the total price value of the order form. The guarantee shall provide that it remains remain in force until final acceptance. The contracting authority shall release the guarantee within a month following of the date of final acceptance. Where, in accordance with Article I.4, a financial guarantee is required for the payment of pre- pre-financing, or as a performance guarantee, it shall fulfil the following conditions: