Advance Repayment Guarantee
- Parent Category: Execution
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According to the above mentioned, we, the stock company JSC bank, in irrevocable order undertake to immediately pay the Purchaser any amount, which does not exceed the advance payment
EUR ( euros),
upon receipt of a written request from the Purchaser to make a repayment of advance payment and a confirmation that the Supplier has not supplied the Goods to the Purchaser according to the terms of agreement.
Our Guarantee will come into force at the moment when the Supplier will have received the advance payment in the amount of the above mentioned amount.
In cases of partial supplies of Goods, which have been confirmed by supporting documents (copies of invoices and transport documents), the Guarantee amount will decrease proportionally the value of supplied Goods.
The Guarantee is in force until the moment when the Goods have been fully supplied, but no later than . . .
The Bank accepts claims under this Guarantee no later than on the last day of effectiveness of the Guarantee, if the claim includes an indication that the Beneficiary of Guarantee has a right to the claimed amount due to existence of one of the fulfillment conditions as mentioned in the Guarantee.
Signatures on the documents submitted for the identification of this Guarantee’s claim must be certified by a notary or the claim must be submitted through the beneficiary bank certifying the authenticity of the signatures.
Each payment made by the Bank under such claim accordingly reduces the liabilities of the Bank.
The Guarantee has been drawn up on 1 page in English in 2(two) identical copies, from which one copy is received by the Guarantor, one – by the Beneficiary of Guarantee.
Chairman of the Board or Board Member