Types of Financial Guarantees. The Concessionaire may provide ANP with the following types of financial guarantee of the compensatory penalty for default of the Initial Work Program: letter of credit; performance bond; Oil and Gas pledge agreement; and escrow deposit. The financial guarantees may be combined in order to total the amount guaranteed. The financial guarantees shall comply with the form indicated in the tender protocol. The financial guarantees may only be replaced or changed after approval by ANP.
Appears in 4 contracts
Samples: Concession Agreement, Concession Agreement, Concession Agreement
