Common use of Validity and renewal of the Bank Guarantee Clause in Contracts

Validity and renewal of the Bank Guarantee. 1. Collaterals in the form of a Bank Guarantee shall be valid for the minimum periods as follows: (a) for product(s) with a duration of more than one month, until at least thirty (30) days after the end of each next calendar month within the Product Period(s); (b) for product(s) with a duration of one month, until at least thirty (30) days after the end of the Product Period(s); and (c) for product(s) with a duration of less than one month, until at least sixty (60) days after the end of the Product Period(s). 2. The Registered Participant shall replace or renew the collaterals in form of a Bank Guarantee to fulfil the requirements of paragraph 1 of this Article.

Validity and renewal of the Bank Guarantee. 1. Collaterals in the form of a Bank Guarantee shall be valid for the minimum periods as follows: (a) for product(s) with a duration of more than one month, until at least thirty (30) calendar days after the end of each next calendar month within the Product Period(s); (b) for product(s) with a duration of one month, until at least thirty (30) calendar days after the end of the Product Period(s); and (c) for product(s) with a duration of less than one month, until at least sixty (60) calendar days after the end of the Product Period(s). 2. The Registered Participant shall replace or renew the collaterals in form of a Bank Guarantee to fulfil the requirements of paragraph 1 of this ArticleArticle at least four (4) Working days before the expiry of the validity of the collaterals.

Validity and renewal of the Bank Guarantee. 1. Collaterals in the form of a Bank Guarantee shall be valid for the minimum periods as follows: (a) a. for product(s) with a duration of more than one month, until at least thirty (30) calendar days after the end of each next calendar month within the Product Period(s); (b) b. for product(s) with a duration of one month, until at least thirty (30) calendar days after the end of the Product Period(s); and (c) c. for product(s) with a duration of less than one month, until at least sixty (60) calendar days after the end of the Product Period(s). 21. The Registered Participant shall replace or renew the collaterals in form of a Bank Guarantee to fulfil the requirements of paragraph 1 of this ArticleArticle at least four (4) Working days before the expiry of the validity of the collaterals.

Validity and renewal of the Bank Guarantee. 1. Collaterals in the form of a Bank Guarantee shall be valid for the minimum periods as follows: (a) for product(s) with a duration of more than one (1) month, until at least thirty (30) calendar days after the end of each next calendar month within the Product Period(s); (b) for product(s) with a duration of one (1) month, until at least thirty (30) calendar days after the end of the Product Period(s); and (c) for product(s) with a duration of less than one (1) month, until at least sixty (60) calendar days after the end of the Product Period(s). 2. The Registered Participant shall replace or renew the collaterals in form of a Bank Guarantee to fulfil the requirements of paragraph 1 of this ArticleArticle at least four (4) Working Days before the expiry of the validity of the collaterals.