Warranty Bank Guarantee definition

Warranty Bank Guarantee means: a bank guarantee provided by the Supplier with respect to each FLT separately in favor of APC, which shall remain in full force and effect for the duration of the Warranty Period of the respective FLT (as such term is defined in Section 16 herein), in an amount equal to 10% of the price of each FLT delivered to APC, and in the form Attached hereto as Appendix A.
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Warranty Bank Guarantee means: a bank guarantee provided by the Supplier with respect to each ECH-FLT separately in favor of APC, which shall remain in full force and effect for the duration of the Warranty Period of the respective ECH-FLT (as such term is defined in Section 16 herein), in an amount equal to 10% of the price of each ECH-FLT delivered to APC, and in the form Attached hereto as Appendix A.
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Warranty Bank Guarantee means: a bank guarantee provided by the Supplier with respect to each OPG separately in favor of APC, which shall remain in full force and
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Examples of Warranty Bank Guarantee in a sentence

  • For Performance cum Warranty Bank Guarantee (PWBG), Total Contract Price including taxes and duties is to be considered.

  • Warranty Bank Guarantee equivalent to 10% value shall be provided on successful commissioning.

  • Performance cum Warranty Bank Guarantee should be valid up to 60 days beyond the date of warranty.

  • The Performance cum Warranty Bank Guarantee will be subject to encashment by the Buyer, in case the conditions regarding adherence to delivery schedule, settlement of claims and other provisions of the contract are not be filled of the seller.

  • Fifteen (15) % of the Base Contract Price shall be paid within thirty (30) days of submission of claim and a Bank Guarantee for the equivalent amount and Performance-Cum Warranty Bank Guarantee, subject to correction and acceptability of the documents submitted.

  • This obviates the need to obtain a fresh Warranty Bank Guarantee from the supplier on commencement of the warranty period, with corresponding return of the Performance Guarantee.

  • All applicable fees and charges regarding the Warranty Bank Guarantee shall be borne by the Supplier.

  • Balance 10 % payment shall be made within 90 days of receipt of goods in India, and on submission of Warranty Bank Guarantee and / or other documents as specified in the Contract.

  • The specimen of PBG is given in Form DPM-15(Available in MoD website and can be provided on request).In case of any claims or any other contractual obligation being outstanding, the Seller will extend the Performance cum Warranty Bank Guarantee as asked for by the Buyer till such time as the Seller settles all claims and completes all contractual delegations.

  • This warranty period shall be covered by a Warranty Bank Guarantee as stipulated in para-4c above.


More Definitions of Warranty Bank Guarantee

Warranty Bank Guarantee means an irrevocable bank guarantee issued by the Guarantor and delivered to the State Company in accordance with clause 11 of article 9.2 of this Agreement to secure the performance of the contractual obligations by the Contractor after the completion of Overhaul.
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Warranty Bank Guarantee means: a bank guarantee provided by the Supplier with respect to each Tractor separately in favor of APC, which shall remain in full force and effect for the duration of the Warranty Period of the respective Tractor (as such term is
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Warranty Bank Guarantee means: a bank guarantee provided by the Supplier with respect to each EMCG separately in favor of APC, which shall remain in full force and effect for the duration of the Warranty Period of the respective EMCG (as such term is defined in
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Related to Warranty Bank Guarantee

  • 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;

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Facility Letter means, in relation to any Facilities, such facility letters from Citibank to me or any agreement, document or instrument or arrangement from time to time made between Citibank and me relating to such Facilities, whether they are expressed to be subject to the Terms or otherwise.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Trade Letter of Credit means any Letter of Credit that is issued under the Letter of Credit Facility for the benefit of a supplier of inventory to the Borrower or any of its Subsidiaries to effect payment for such Inventory.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Standby Letter of Credit means any Letter of Credit other than a Commercial Letter of Credit.

  • Credit Provider means a Person providing a guaranty, or other credit support, in form and substance reasonably acceptable to the Administrative Agent, of the obligations of an Included Investor to make Investor Capital Contributions.

  • Substitute Letter of Credit has the meaning set forth in Section 10.5(c).

  • Documentary Letter of Credit means any Letter of Credit that is drawable upon presentation of documents evidencing the sale or shipment of goods purchased by the Borrower or a Guarantor in the ordinary course of its business.

  • Servicer Letter of Credit means a letter of credit, surety bond or insurance policy issued by a depository institution, insurance company, or financial institution having a short-term credit rating at least equal to the Required Deposit Rating and providing that the Indenture Trustee or Trust Agent, as the case may be, may draw thereupon in the event the Servicer satisfies the Monthly Remittance Condition but fails to deposit SUBI Collections into the 2019-B SUBI Collection Account by the related Deposit Date.

  • Underlying Letter of Credit means a letter of credit that has been issued by an Underlying Issuer.

  • Existing Letter of Credit means each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.06.

  • Eligible Letter of Credit means, as of any date of determination thereof, a Letter of Credit which supports the purchase of Inventory, (i) which Inventory does not constitute Eligible In-Transit Inventory and for which no documents of title have then been issued, (ii) which Inventory, when completed, otherwise would constitute Eligible Inventory, (iii) which Letter of Credit has an expiry within thirty (30) days of the date of initial issuance of such Letter of Credit, and (iv) which Letter of Credit provides that it may be drawn only after the Inventory is completed and after documents of title have been issued for such Inventory reflecting the Borrower, a Subsidiary Guarantor or the Administrative Agent as consignee of such Inventory.

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • UK Guarantor means any Guarantor organized under the laws of England and Wales.

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.