Bank Guarantee definition

Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;

Bank Guarantee means the financial security on first demand which the Network User shall provide in accordance with Article 14 of this attachment of the Standard Transmission Agreement.

Bank Guarantee means Guarantee issued by a scheduled commercial bank in favour of NMRC

Examples of Bank Guarantee in a sentence

• Bank shall issue the Bank Guarantee through SFMS system and send SFMS message to ONGC's Bank confirming the authenticity of Bank Guarantee.

• The validity of the Bank Guarantee, if submitted by the Contractor, in lieu of Performance Security / Security Deposit shall be extended in pursuant to Clause No. 4.3 taking into consideration the period of extension.

• EESL shall at its discretion have recourse to the said Bank Guarantee for the recovery of any or all amount due from the bidder(s) in connection with the contract including of replacement warranty obligations.

• There should be no provision in the Bid Documents regarding submission of Additional Security Deposit / Bank Guarantee (BG) in case of Abnormally Low Bids.

• The firm will give a performance Bank Guarantee of 10% of order value if exceeding Rs. 1 Lac, valid for AMC period at the time of accepting the contract.

More Definitions of Bank Guarantee

Bank Guarantee means the guarantee executed in favor of the Access Provider on behalf of the Access Seeker by a bank approved by the Access Provider in a format acceptable to the Access Provider.

Bank Guarantee means an unconditional and irrevocable standby letter of credit or letter of guarantee issued by a bank;

Bank Guarantee means a direct guarantee issued for the account of the Borrower, and, if requested, a Subsidiary of the Borrower, pursuant to this Agreement by a Facing Agent, in form acceptable to the Facing Agent, ensuring that a liability acceptable to the Facing Agent of the Borrower or a Subsidiary of a Borrower to a third Person will be met.

Bank Guarantee means a guarantee issued by a bank or other financial institution, for the account of Parent or any Subsidiary of Parent, to support obligations of such Person incurred in the ordinary course of such Person’s business.

Bank Guarantee means a bank guarantee, substantially in the form set out in Schedule 12 (Form of Bank Guarantee) or in any other form requested by a Borrower and agreed by the Agent and the Issuing Bank.

Bank Guarantee means the guarantees required to be furnished by the Bidder in accordance with the provisions of Clause 5.4(b) of this BID.

Bank Guarantee means a bank guarantee issued by a bank operating in Australia in form and substance satisfactory to the Developer. Bond means a Deposit Insurance Bond issued to the Developer at the request of the Buyer in form and substance satisfactory to the Developer. Building means the building to be constructed on the Site in accordance with the Plans. Building Works means the building works to be carried on the Site as contemplated by this contract. Buyer's Bank means any person, corporation or institution lending all or any part of the Contract Price to the Buyer. Completion has the meaning given in the Sale Contract.