Bank Guarantee for Advanced Payment Clause Samples

A Bank Guarantee for Advanced Payment is a contractual provision requiring the contractor or supplier to provide a guarantee from a bank as security for any advance payments received from the buyer or project owner. Typically, this guarantee ensures that if the contractor fails to fulfill their obligations or defaults, the bank will reimburse the advanced funds to the buyer. This clause is commonly used in construction or supply contracts where significant upfront payments are made, protecting the buyer from financial loss if the contractor does not deliver as agreed.
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Bank Guarantee for Advanced Payment. Except when the interests of UNDP so require, it is the UNDP’s preference to make no advanced payment(s) on contracts (i.e., payments without having received any outputs). In the event that the Proposer requires an advanced payment upon contract signature, and if such request is duly accepted by UNDP, and the said advanced payment exceeds 20% of the total proposal price, or exceed the amount of USD 30,000, UNDP shall require the Proposer to submit a Bank Guarantee in the same amount as the advanced payment. A bank guarantee for advanced payment shall be furnished in the form provided in Section 10.
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Bank Guarantee for Advanced Payment. 42.1 Except when the interests of UNDP so require, it is UNDP’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at ▇▇▇▇▇://▇▇▇▇.▇▇▇▇.▇▇▇/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP _DOCUMENT_LIBRARY/Public/PSU_Contract%20Management%20Payment%20 and%20Taxes_Advanced%20Payment%20Guarantee%20Form.docx&action=de fault
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Bank Guarantee for Advanced Payment. (Not Applicable in this RFP)
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Bank Guarantee for Advanced Payment. (Not Applicable in this RFP) Vendor Protest
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Bank Guarantee for Advanced Payment. 42.1 Except when the interests of UNDP so require, it is UNDP’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at ▇▇▇▇▇://▇▇▇▇.▇▇▇▇.▇▇▇/_layouts/15/WopiFrame.aspx?sourcedoc=/UNDP_POPP _DOCUMENT_LIBRARY/Public/PSU_Contract%20Management%20Payment%20 and%20Taxes_Advanced%20Payment%20Guarantee%20Form.docx&action=de fault 43 Liquidated Damages 43.1 If specified in the BDS, UNDP shall apply Liquidated Damages for the damages and/or risks caused to UNDP resulting from the Contractor’s delays or breach of its obligations as per Contract.
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Bank Guarantee for Advanced Payment. 42.1 Except when the interests of GOS so require, it is GOS’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment.
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Bank Guarantee for Advanced Payment. Банковская Гарантия по Авансовому Платежу
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Bank Guarantee for Advanced Payment. 42.1 Except when the interests of UNDP so require, it is UNDP’s standard practice to not make advance payment(s) (i.e., payments without having received any outputs). If an advance payment is allowed as per the BDS, and exceeds 20% of the total contract price, or USD 30,000, whichever is less, the Bidder shall submit a Bank Guarantee in the full amount of the advance payment in the form available at
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Related to Bank Guarantee for Advanced Payment

  • Letter of Credit Payments If any draft shall be presented for payment under any Letter of Credit, the Issuing Lender shall promptly notify the Borrower of the date and amount thereof. The responsibility of the Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment are substantially in conformity with such Letter of Credit.

  • Cash Collateral, Repayment of Swing Line Loans If the reallocation described in clause (a)(iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.15.

  • Cash Collateral, Repayment of Swingline Loans If the reallocation described in clause (iv) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and (y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10.

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.