Collateral Warranties definition
Examples of Collateral Warranties in a sentence
Please specify if a Concession Agreement is required under the Call-Off Contract; Collateral Warranties - You should specify whether Collateral Warranties are required for this contract and the form this will take; Performance Bond – You should indicate whether a Performance Bond is required for this contract.
Delete clauses 7.3 to 7.8 and substitute the following: "Clause 7.3 Collateral Warranties from consultants engaged by the Contractor The Contractor shall procure that any consultants it engages in connection with the design of the Contractor’s Designed Portion will, within 14 days of their appointment, enter into the relevant form of collateral warranty set out in Schedule 10 in favour of the Employer.
The placement of the Collateral Warranties in the form of cash deposits, must be made through bank transference in the account that PGPB will designate for such purposes and notify the Client in writing.
When the Daily Balance is lower than his Operative Limit for Coverage, PGPB, at the Client’s request, will make the liberation of the Collateral Warranties no later than two (2) Working Days following the date of receipt of the request that the Client presents to PGPB in writing.
No Collateral Warranties will be required for those Coverage Operations that are contracted within the Coverage 2004 – 2006 program.