Advance Payment Bonds definition

Advance Payment Bonds means the advance payment bonds in the form set out in Attachment B to the Particular Conditions, to be provided by the Contractor in accordance with clause 4.2 [Performance Securities].
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Advance Payment Bonds means Third Party Guarantees or Parent Guarantees to the extent they secure or guarantee the repayment or application of customer advances.
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Advance Payment Bonds shall have the meaning set forth in Section 5.08(a).
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Examples of Advance Payment Bonds in a sentence

  • No amount will be certified or paid until the Employer has received and approved the Performance Security and the relevant Advance Payment Bonds required to be submitted by the Contractor in accordance with clause 4.2 [Performance Security and Advance Payment Bonds].

  • With the consent of the Project Company (not to be unreasonably withheld or delayed), the Installation Contractor shall be entitled to reduce the aggregate value of the Advance Payment Bond(s) to the extent that the Installation Contractor has carried out (to the satisfaction of the Project Company) the relevant part of the Installation Works to which the Advance Payment(s) relates.

  • As a condition precedent to the Project Company's obligation to make any Advance Payment, the Installation Contractor shall provide the Project Company with one or more Advance Payment Bond(s) for an aggregate value equal to the relevant Advance Payment (less the Retention Amount).

  • As a condition precedent to the Project Company's obligation to make any Advance Payment, the Supplier shall provide the Project Company with one or more Advance Payment Bond(s) for an aggregate value equal to the relevant Advance Payment (less the Retention Amount).

  • The required amount of the Advance Payment Bond(s) shall be reduced from time to time by such amount as is applied to proportional deductions in according with the preceding sentence.

  • The Advance Payment Bonds shall be for the amounts of advance payments specified in the Attachment C.

  • The Employer shall indemnify and hold the Contractor harmless against and from all damages, losses and expenses (including legal fees and expenses) resulting from a claim under either the Performance Security or the Advance Payment Bonds to the extent to which the Employer was not entitled to make the claim.