Common use of Name of Bank Clause in Contracts

Name of Bank. Address ................................................................................................................. Section 10: Form for Advanced Payment Guarantee8 (This must be finalized using the official letterhead of the Issuing Bank. Except for indicated fields, no changes may be made in this template.) _____________________________ [Bank’s Name, and Address of Issuing Branch or Office] Beneficiary: _________________ [Name and Address of UNDP] Date: ________________ ++++++++++++++ ADVANCE PAYMENT GUARANTEE No.: _________________ We have been informed that [name of Company] (hereinafter called "the Contractor") has entered into Contract No. [reference number of the contract] dated [insert: date] with you, for the provision of [brief description of ITB requirements] (hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, an advance payment in the sum of [amount in words] ([amount in figures]) is to be made against an advance payment guarantee. At the request of the Contractor, we [name of Bank] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [amount in words] ([amount in figures])9 upon receipt by us of your first demand in writing accompanied by a written statement stating that the Contractor is in breach of its obligation under the Contract because the Contractor has used the advance payment for purposes other than toward providing the goods and related services under the Contract. It is a condition for any claim and payment under this guarantee to be made that the advance payment referred to above must have been received by the Contractor on its account number ___________ at [name and address of Bank]. The maximum amount of this guarantee shall be progressively reduced by the amount of the advance payment repaid by the Contractor as indicated in copies of certified monthly statements which shall be presented to us. This guarantee shall expire, at the latest, upon our receipt of the monthly payment certificate indicating that the Consultants have made full repayment of the amount of the advance payment, or on the __ day of ___________, 2___, 20__ whichever is earlier. Consequently, any demand for payment under this guarantee must be received by us at this office on or before that date. This guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 458. _____________________ [signature(s)] Note: All italicized text is for indicative purposes only to assist in preparing this form and shall be deleted from the final product.

Name of Bank. 2 If the RFP requires the submission of a Performance Security, which shall be made a condition to the signing and effectivity of the contract, the Performance Security that the Bidder’s Bank will issue shall use the contents of this template Address ................................................................................................................. Section 10: Form for Advanced Payment Guarantee8 Guarantee3 (This must be finalized using the official letterhead of the Issuing Bank. Except for indicated fields, no changes may be made in this template.) _____________________________ [Bank’s Name, and Address of Issuing Branch or Office] Beneficiary: _________________ [Name and Address of UNDP] Date: ________________ ++++++++++++++ ADVANCE PAYMENT GUARANTEE No.: _________________ We have been informed that [name of Company] (hereinafter called "the Contractor") has entered into Contract No. [reference number of the contract] dated [insert: date] with you, for the provision of [brief description of ITB requirements] (hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, an advance payment in the sum of [amount in words] ([amount in figures]) is to be made against an advance payment guarantee. At the request of the Contractor, we [name of Bank] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [amount in words] ([amount in figures])9 figures])4 upon receipt by us of your first demand in writing accompanied by a written statement stating that the Contractor is in breach of its obligation under the Contract because the Contractor has used the advance payment for purposes other than toward providing the goods and related services under the Contract. It is a condition for any claim and payment under this guarantee to be made that the advance payment referred to above must have been received by the Contractor on its account number ___________ at [name and address of Bank]. The maximum amount of this guarantee shall be progressively reduced by the amount of the advance payment repaid by the Contractor as indicated in copies of certified monthly statements which shall be presented to us. This guarantee shall expire, at the latest, upon our receipt of the monthly payment certificate indicating that the Consultants have made full repayment of the amount of the advance payment, or on the __ day of ___________, 2___2 , 20__ 20 whichever is earlier. Consequently, any demand for payment under this guarantee must be received by us at this office on or before that date. This guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 458. _____________________ [signature(s)] Note: All italicized text is for indicative purposes only to assist in preparing this form and 3 This Guarantee shall be deleted from required if the final productContractor will require advanced payment of more than 20% of the contract amount, or if the absolute amount of the advanced payment required will exceed the amount of USD 30,000, or its equivalent if the price offer is not in USD, using the exchange rate stated in the Data Sheet. The Contractor’s Bank must issue the Guarantee using the contents of this template.

Name of Bank. Address ................................................................................................................. Section 10: Form for Advanced Payment Guarantee8 Guarantee14 (This must be finalized using the official letterhead of the Issuing Bank. Except for indicated fields, no changes may be made in on this template.) _____________________________ [Bank’s Name, and Address of Issuing Branch or Office] Beneficiary: _________________ [Name and Address of UNDP] Date: ________________ ++++++++++++++ ADVANCE PAYMENT GUARANTEE No.: _________________ We have been informed that [name of Company] (hereinafter Company](hereinafter called "the Contractor") has entered into Contract No. [reference number of the contract] dated [insertcontract]dated [insert: date] date] with you, for the provision of [brief description of ITB requirements] (hereinafter Services](hereinafter called "the Contract"). Furthermore, we understand that, according to the conditions of the Contract, an advance payment in the sum of [amount in words] ([amount in figures]) is figures])is to be made against an advance payment guarantee. At the request of the Contractor, we [name of Bank] hereby irrevocably undertake to pay you any sum or sums not exceeding in total an amount of [amount in words] ([amount in figures])9 figures])15 upon receipt by us of your first demand in writing accompanied by a written statement stating that the Contractor is in breach of its obligation under the Contract because the Contractor has used the advance payment for purposes other than toward providing the goods and related services Services under the Contract. It is a condition for any claim and payment under this guarantee to be made that the advance payment referred to above must have been received by the Contractor on its account number ___________ at [name and address of Bank]. The maximum amount of this guarantee shall be progressively reduced by the amount of the advance payment repaid by the Contractor as indicated in copies of certified monthly statements which shall be presented to us. This guarantee shall expire, at the latest, upon our receipt of the monthly payment certificate indicating that the Consultants have made full repayment of the amount of the advance payment, or on the __ day of ___________, 2___, 20__ 2___,16 whichever is earlier. Consequently, any demand for payment under this guarantee must be received by us at this office on or before that date. This guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 458. _____________________ [signature(s)] Note: All italicized text is for indicative purposes only to assist in preparing this form and shall be deleted from the final product.