Advance Payment Bond definition

Advance Payment Bond means an on demand bond in respect of the Advance Payment in the form set out in Attachment B to the Particular Conditions.
View Source
Advance Payment Bond means the letter of guarantee described in Article
View Source
Advance Payment Bond means an unconditional Standby Letter of Credit or a Bank Guarantee, payable with 30-day notice, issued by a reputable South African bank acceptable to Company (or confirmed by a reputable South African bank acceptable to Company, if issued by a foreign bank), in an amount and expiry date as stipulated in the Agreement. The Advance Payment Bond shall guarantee that the advanced sum will be returned if the Agreement under which the advance was made cannot be fulfilled.
View Source

Examples of Advance Payment Bond in a sentence

  • Without prejudice to the foregoing or Sub-Clause 4.2, the Advance Payment Bond shall be issued by an entity approved by the Employer, and shall be in the form annexed to the Particular Conditions or in another form approved by the Employer in its absolute discretion.

  • The Contractor shall have delivered to the Employer as a Condition Precedent the duly executed Performance Security and the Advance Payment Bond (the latter in relation to the first payment only in accordance with Attachment C).

  • The Engineer shall issue an Interim Payment Certificate for the Advance Payment after receiving a Statement (under Sub-Clause 14.3 [Application for Interim Payment Certificates]) and after the Employer receives the Advance Payment Bond for the value of the Advance Payment.

  • If the expiry date of the Advance Payment Bond is likely to occur before the expiry of the relevant Semester, then not less than twenty-eight (28) days prior to the expiry of the relevant Semester, the Training Provider shall extend the validity of the Advance Payment Bond until the expiry of the relevant Semester.

  • ESP’s failure to perform this duty shall be deemed to be a material breach of the Contract entitling the Principal to apply to the party which has issued the Advance Payment Bond and demand payment of the amount of the Advance Payment Bond without an obligation to prove actual damages or losses.

  • No amount will be certified or paid until the Employer has received and approved, the Performance Securities and the relevant Advance Payment Bond required to be submitted by the Contractor in accordance with clause 4.2 [Performance Securities].

  • The Party liable for payment of any charges regarding the Advance Payment Bond and the Performance Bond is ESP.

  • The Supplier must deliver the extended or replacement Advance Payment Bond to the Project Company not later than: in the event of expiry or cessation, the tenth (10th) Business Day prior to the date of expiry or cessation of the original Advance Payment Bond; and in the event of the issuer ceasing to be a Qualifying Issuer, the tenth (10th) Business Day after Project Company's written request for a replacement Advance Payment Bond.

  • The Installation Contractor must deliver the extended or replacement Advance Payment Bond to the Project Company not later than: in the event of expiry or cessation, the tenth (10th) Business Day prior to the date of expiry or cessation of the original Advance Payment Bond; and in the event of the issuer ceasing to be a Qualifying Issuer, the tenth (10th) Business Day after Project Company's written request for a replacement Advance Payment Bond.

  • In this case the Principal is entitled to carry out a recourse on the Advance Payment Bond, if applicable, and the Performance Bond, as the case may be.


More Definitions of Advance Payment Bond

Advance Payment Bond means the bond to be provided to Tabreed by the Contractor in accordance with Clause 23.1 in substantially the form set out in Exhibit 1 (Forms).
View Source
Advance Payment Bond means an on demand bond issued by a Qualifying Issuer in favour of the Project Company in a form acceptable to the Project Company as security for performance of the Installation Contractor's obligations under this Agreement.
View Source
Advance Payment Bond means the bond to be provided to Tabreed by the Contractor in accordance with Clause 23.1 in substantially the form set out in Exhibit 13 (Form of Bonds and Guarantees).
View Source
Advance Payment Bond means an advance payment bond in the form set out in the appendix to part 1 of schedule E11 (Milestones and Security);
View Source
Advance Payment Bond means a bond in the terms indicated in Article 4.5 issued by Société Générale, branck Roche La Molière (01855) address ▇ ▇▇▇ ▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇; 1.1.2. ″Adverse Weather Conditions″ means: 1.
View Source
Advance Payment Bond means the bond to be provided by the Training Provider in accordance with Clause 8(a).
View Source

Related to Advance Payment Bond

  • Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;

  • Advance Payment Contract means any contract whereby any Credit Party either (a) receives or becomes entitled to receive (either directly or indirectly) any payment (an “Advance Payment”) to be applied toward payment of the purchase price of Hydrocarbons produced or to be produced from Oil and Gas Interests owned by any Credit Party and which Advance Payment is, or is to be, paid in advance of actual delivery of such production to or for the account of the purchaser regardless of such production, or (b) grants an option or right of refusal to the purchaser to take delivery of such production in lieu of payment, and, in either of the foregoing instances, the Advance Payment is, or is to be, applied as payment in full for such production when sold and delivered or is, or is to be, applied as payment for a portion only of the purchase price thereof or of a percentage or share of such production; provided that inclusion of the standard “take or pay” provision in any gas sales or purchase contract or any other similar contract shall not, in and of itself, constitute such contract as an Advance Payment Contract for the purposes hereof.

  • Advance Payments means the payments made by Customer in advance of delivery with respect of an Aircraft pursuant to Section 4.2 of the Purchase Agreement.

  • Guaranteed Advance Payment Sum means: The maximum amount of R .........................................................................

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.