Common use of CONTRACT SECURITY Clause in Contracts

CONTRACT SECURITY. 15.1. As a measure of securing the fulfillment of the terms of the present Contract the Parties when concluding an Additional agreement for the delivery of an agreed Goods lot may provide for the Buyer’s obligation to transfer to the Seller’s account a sum of money (hereinafter referred to as “Contract security”). Contract security shall make 10% of the cost of the maximum monthly Goods lot (nominal quantity without Seller’s positive option) calculated at the provisional price of the first agreed monthly Goods lot (Contract security). The date when the money funds are credited to the Seller’s account is deemed the date of Contract deposit payment. To secure the Buyer’s performance of its obligations under the Supply contract the Contract deposit shall remain on the Seller’s account till their complete fulfillment by the Buyer.

CONTRACT SECURITY. 15.113.1. As a measure of securing the fulfillment of the terms of the present Contract the Parties when concluding an Additional agreement for the delivery of an agreed Goods lot may provide for the Buyer’s obligation to transfer to the Seller’s account a sum of money (hereinafter referred to as “Contract security”). Contract security shall make 10% of the cost of the maximum monthly Goods lot (nominal quantity without Seller’s positive option) calculated at the provisional price of the first agreed monthly Goods lot (Contract security). The date when the money funds are credited to the Seller’s account is deemed the date of Contract deposit payment. To secure the Buyer’s performance of its obligations under the Supply contract the Contract deposit shall remain on the Seller’s account till their complete fulfillment by the Buyer.