Annex VIII. PRICE SCHEDULE
Annex VIII. Exploring Energy Technologies Perspectives 14 countries participate to Annex VIII: XXXXX (Australia), FPP Science Policy (Be), NRCan (Canada), DGRTD (EC), TEKES (Finland), IER (Germany), CRES (Greece), JAERI (Japan), XXXX (Korea), ECN (Netherlands), STEM (Sweden), PSI (Switzerland), DTI (UK), DOE (US). Groups and researchers in Austria, Denmark, Ireland, Italy, Spain, Turkey expressed the interest to join. China, New Zeeland, South Africa have been invited to join. Some changes in the contracting parties in some countries are coming: KIER will be replaced by KEMCO in Korea. Sweden also has a problem with changing the organization representing the country. Organizations not designated by their government can join as sponsors.
Annex VIII. “Signed letter by authorised representative of the Beneficiary setting forth the name, title and authenticated specimen signature of each person authorised to sign payment requests”;
Annex VIII. BANK GUARANTEE The President Islamic Republic of Pakistan, Through Director General Petroleum Concessions Ministry of Petroleum and Natural Resources Islamabad Gentlemen: Regarding: Our Irrevocable Bank Guarantee No In compliance with the request of XYZ/ABC ("the Company"), we, (Name of Bank), issue this unconditional irrevocable Bank Guarantee in your favour for a sum not exceeding United States Dollars (US$ ), which represents 25 % of the Minimum Financial obligations for the initial exploration period for Block No under the Concession Agreement, dated 200 ("Agreement") among the Company (XYZ/ABC), GHPL/PHC (if applicable) and THE PRESIDENT of the Islamic Republic of Pakistan ("THE PRESIDENT"), relating to Petroleum exploration, development and production in Pakistan to guarantee the Company's faithful performance of its financial obligations as provided for in the Agreement, the said sum of United States Dollars (US$ ) to be reduced annually by an amount proportionate to 25% of the discharge of Minimum Work Commitment for that year as provided for in the said Agreement, as evidenced by a signed certificate from THE PRESIDENT or his designee (Director General Petroleum Concessions). The terms and conditions of this Bank Guarantee are as follows:
