Common use of Supply of Contracted Grade of Coal by Rail Clause in Contracts

Supply of Contracted Grade of Coal by Rail. 12.2.1 The Purchaser shall submit a financial coverage in the form of a banker’s cheque/ demand draft or a bank guarantee issued by an Acceptable Bank in the format set out in Annexure VIII (“Financial Coverage Bank Guarantee” or “Financial Coverage BG”) for an amount equal to the estimated As Delivered Price of Coal for 30 (thirty) days of Coal supplies, i.e. ACQ/12, subject to a minimum amount equivalent to the As delivered Price of Coal of 1 (one) rake-load, as indicated in the notice by the Seller (“Financial Coverage”).

Supply of Contracted Grade of Coal by Rail. 12.2.1 The Purchaser shall submit a financial coverage in the form of a banker’s banker‘s cheque/ demand draft or a bank guarantee issued by an Acceptable Bank in the format set out in Annexure VIII (“Financial ―Financial Coverage Bank Guarantee” Guarantee‖ or “Financial ―Financial Coverage BG”BG‖) for an amount equal to the estimated As Delivered Price of Coal for 30 (thirty) days of Coal supplies, i.e. ACQ/12, subject to a minimum amount equivalent to the As delivered Price of Coal of 1 (one) rake-load, as indicated in the notice by the Seller (“Financial Coverage”―Financial Coverage‖).