Bank Guarantee for advance payment definition
Bank Guarantee for advance payment means the security (or securities) to be provided under Sub-Clause 11.3 [Advance Payment].
Examples of Bank Guarantee for advance payment in a sentence
The Bank Guarantee for advance payment shall be released when the same has been fully amortized.
NOTE: (In addition to the above Draft Contract clauses, other clauses for FIM, Bank Guarantee for advance payment, if any plus other standard departmental conditions shall also be applicable in case of an order on you).