Common use of Delivery to Council of Bank Guarantee Clause in Contracts

Delivery to Council of Bank Guarantee. Prior to the issue of a Subdivision Certificate for each Stage of the Development, the Developer must deliver to Council a Bank Guarantee for an amount equal to the Security Value for the Works.

Delivery to Council of Bank Guarantee. Prior to of the issue of a Construction Certificate or Subdivision Works Certificate for each Stage of the Development, the Developer must deliver to Council a Bank Guarantee for an amount equal to the sum of the Security Value for the Works.