Common use of Provision of bonds and guarantees Clause in Contracts

Provision of bonds and guarantees. The Employer may withhold payment of amounts due to the Contractor until the bond or guarantee required in terms of this contract has been received and accepted by the person notified to the Contractor by the Project Manager to receive and accept such bond or guarantee. Such withholding of payment due to the Contractor does not affect the Employer’s right to termination stated in this contract.

Provision of bonds and guarantees. The a) Without limitation to the Employer’s rights under the Contract, the Employer may withhold payment of amounts due to the Contractor until the bond or guarantee required in terms of this contract has been received and accepted by the person notified to the Contractor by the Project Manager to receive and accept such bond or guarantee. Such withholding of payment due to the Contractor does not affect the Employer’s right to termination stated in this contract.