Sample provision GCC 16. 1—The method and conditions of payment to be made to the Supplier under this Contract shall be as follows: A.
Sample provision GCC 16. 1—The method and conditions of payment to be made to the Supplier under this Contract shall be as follows: A. Payment of local currency portion of a foreign Supplier shall be made in Kenya shillings within thirty (30) days of presentation of claim supported by a certificate from the Procuring Entity declaring that the Goods have been delivered and that all other contracted Services have been performed. B. Payment for Goods and Services supplied from within Kenya: Payment for Goods and Services supplied from within Kenya shall be made in [Kenya Shilling], as follows: (i)
Sample provision GCC 16. 1—The method and conditions of payment to be made to the Supplier under this Contract shall be as follows: A. Payment for Goods supplied from abroad: Payment of foreign currency portion shall be made in _KES [insert currency of the Contract Price] in the following manner: (i) Advance Payment: NOT APPLICABLE (ii)
Sample provision GCC 16. 1—The method and conditions of payment to be made to the Supplier under this Contract shall be as follows: Payment for Goods supplied from abroad: Payment of foreign currency portion shall be made in ( ) [currency of the Contract Price] in the following manner: (i) Advance Payment: Twenty (20) percent of the Contract Price shall be paid within sixty (60) days of signing of the Contract, and upon submission of claim and a bank guarantee for equivalent amount valid until the Goods are delivered and in the form provided in the bidding documents or another form acceptable to the Procuring Entity. (iii)
Sample provision GCC 16. 1—The method and conditions of payment to be made to the Supplier under this Contract shall be as follows: Upon delivery and acceptance of goods in the KNH Warehouse A. Payment for Goods supplied from abroad: Payment of foreign currency portion shall be made in [insert currency of the Contract Price ] in the following manner: N/A) (i) Advance Payment: N/A). (ii) On Shipment: Eighty (80) percent of the Contract Price of the Goods shipped shal be paid through irrevocable confirmed letter of credit opened in favour of the Supplier i a bank in its country, upon submission of documents specified in GCC Clause 12..(N/A) (iii) On Acceptance: Ten (10) percent of the Contract Price of Goods received shall be paid within thirty (30) days of receipt of the Goods upon submission of claim supported by the acceptance certificate issued by the Procuring Entity..(N/A) B. Payment of local currency portion of a foreign Supplier shall be made in Xxxx xxxxxxxxx within thirty (30) days of presentation of claim supported by a certificate from the Procuring Entity declaring that the Goods have been delivered and that all othe contracted Services have been performed. (N/A) C. Payment for Goods and Services supplied from within Kenya: Payment for Goods and Services supplied from within Kenya shall be made in [currency], as follows:.(N/A) (i) Advance Payment: Ten (10) percent of the Contract Price shall be paid within thirty (30) days of signing of the Contract against an invoice and a bank guarantee for the equivalent amount and in the form provided in the Tendering document or another form acceptable to the Procuring Entity..(N/A) (ii) On Delivery: Eighty (80) percent of the Contract Price shall be paid on receipt of the Goods and upon submission of the documents specified in GCC Clause 13. The bank guarantee shall then be released..(N/A) On Acceptance: The remaining ten (10) percent of the Contract Price shall be paid to the Supplier within thirty (30) days after the date of the acceptance certificate for the respective delivery issued by the Procuring Entity..(N/A) GCC 16.5 The payment-delay period after which the Procuring Entity shall pay interest to the supplier shall be [insert number] days. The interest rate that shall be applied is: GCC 18.1 A Performance Security f 5% of the contract price in the form of a bank guarantee “shall” be required [If a Performance Security is required, insert “the amount of the Performance Security shall be: [insert amount] GCC 18.3 If require...
