Common use of – SUSPENSION OF THE CONTRACT Clause in Contracts

– SUSPENSION OF THE CONTRACT. Without prejudice to its right to terminate the contract, the ES may at any time and for any reason suspend performance, in whole or in part, of the tasks provided for in the contract. Such suspension will take effect on the date on which the successful tenderer receives notification by registered letter with acknowledgement of receipt or by any other equivalent means, or on a later date specified in the notification. After suspension, the ES may at any time request the successful tenderer to resume the suspended work. The successful tenderer may not claim compensation for having suspended the contract in whole or in part. This contract is signed electronically and will enter into force on the date of signature by the last signatory. The Parties agree that the electronic signature of this Agreement using the Xolido Sign tool will be considered valid and legally binding. This Agreement will be deemed to be an original for all purposes. SIGNATURES For the successful tenderer, ………………. ………………. signature[s]: For the IOC Executive Director Xxxxxxxxxx Xxxxxxx signatures [s]: ANNEX I: SPECIFICATIONS ANNEX II: SUCCESSFUL TENDERER'S OFFER ANNEX III: ORDER FORM INTERNATIONAL PURCHASE ORDER Number of Sheet no. Date and reference OLIVE COUNCIL C/ Príncipe xx Xxxxxxx 154 Madrid - 28002 Code of the successful tenderer: Country of origin: SPAIN Currency: EUR Tel.: 00 000 00 00 Fax: 00 000 00 00 DESCRIPTION OF THE GOODS OR SERVICES UNIT QUANTITY PRICE in € UNIT TOTAL Packaging Insurance Transport Assembly VAT TOTAL: Place of delivery or performance and/or Incoterm and working hours: Supplier's signature Date of delivery or performance: 15-20 days from acceptance Name: Payment: within 30 days of receipt of invoice Position: Supplier's bank account: Date: Acceptance of the budget by the IOC: Date of issue: Signature: Internal Comptroller Executive Director ANNEX IV: FINANCIAL GUARANTEE MODEL FINANCIAL GUARANTEE MODEL (This document must be completed on the financial institution's letterhead.) REFERENCE: GUARANTEE NO. [...] SUBJECT: FINANCIAL COLLATERAL INTENDED TO COVER THE GUARANTEE OF GOOD PURPOSE CONSTITUTED UNDER CONTRACT NUMBER XXX The undersigned, [name, address and telephone number of the financial institution], represented by [position], hereby irrevocably declare that they are jointly and severally liable to provide an irrevocable and unconditional guarantee as principal guarantors on behalf of ............ .................... [name and address of the company] for the payment to the Executive Secretariat of [insert amount equivalent to 5% of the amount set out in the annual contract, in figures and letters] corresponding to the guarantee referred to in the article of the agreement [insert agreement number and acronym] signed between the [name and address of the company] and the Executive Secretariat (hereinafter referred to as "the contract"). Payment will be made without objection or legal proceedings of any kind, upon receipt of your first written demand, sent by registered letter with advice of receipt or equivalent, stating that [name and address of company] has failed to meet one of its contractual obligations. We will not delay payment or object to payment on any grounds whatsoever. We will inform you in writing as soon as payment has been made. We further agree that no modification of the terms of the agreement signed between the Executive Secretariat and the company [name and address of the company] can release us from our obligation under this guarantee. We waive our right to be informed of any change, extension or modification of the contract. We have noted that this financial guarantee will apply until the fifteenth day (including that day) after the date of payment of the balance. The Executive Secretariat undertakes to release the guarantee within thirty (30) days of such payment by expressly releasing and returning the original guarantee to the beneficiary under the contract. In case of partial release, the original will remain in the possession of the Executive Secretariat until the date of receipt of an updated guarantee by the [financial institution] in accordance with this guarantee. This guarantee will be governed by the law applicable to the contract. Any dispute on matters relating to this guarantee will be settled in accordance with the dispute resolution rules set out in the contract. This guarantee will come into force and take effect from the date of signature. Done at [insert place], on [insert date]. [Signature]

– SUSPENSION OF THE CONTRACT. Without prejudice to its right to terminate the contract, the ES may at any time and for any reason suspend performance, in whole or in part, of the tasks provided for in the contract. Such suspension will take effect on the date on which the successful tenderer receives notification by registered letter with acknowledgement of receipt or by any other equivalent means, or on a later date specified in the notification. After suspension, the ES may at any time request the successful tenderer to resume the suspended work. The successful tenderer may not claim compensation for having suspended the contract in whole or in part. This contract is signed electronically and will enter into force on the date of signature by indicated in the last signatoryrespective signatures. The Parties agree that the electronic signature of this Agreement using the Xolido Sign tool will be considered valid and legally binding. This Agreement will be deemed to be an original for all purposes. SIGNATURES For the successful tenderer, ………………. ………………. signature[s]: For the IOC Executive Director Xxxxxxxxxx Xxxxxxx signatures [s]: ANNEX I: SPECIFICATIONS ANNEX II: SUCCESSFUL TENDERER'S OFFER ANNEX III: MODEL ORDER FORM INTERNATIONAL PURCHASE ORDER Number of Sheet no. Date and reference OLIVE COUNCIL C/ Príncipe xx Xxxxxxx 154 Madrid - 28002 Code of the successful tenderer: Country of origin: SPAIN Currency: EUR Tel.: 00 000 00 00 Fax: 00 000 00 00 DESCRIPTION OF THE GOODS OR SERVICES UNIT QUANTITY PRICE in € UNIT TOTAL Packaging Insurance Transport Assembly VAT TOTAL: Place of delivery or performance and/or Incoterm and working hours: Supplier's signature Date of delivery or performance: 15-20 days from acceptance Name: Payment: within 30 days of receipt of invoice Position: Supplier's bank account: Date: Acceptance of the budget by the IOC: Date of issue: Signature: Internal Comptroller Executive Director ANNEX IV: FINANCIAL GUARANTEE MODEL FINANCIAL GUARANTEE MODEL (This document must be completed on the financial institution's letterhead.) REFERENCE: GUARANTEE NO. [...] SUBJECT: FINANCIAL COLLATERAL INTENDED TO COVER THE GUARANTEE OF GOOD PURPOSE CONSTITUTED UNDER CONTRACT NUMBER XXX The undersigned, [name, address and telephone number of the financial institution], represented by [position], hereby irrevocably declare that they are jointly and severally liable to provide an irrevocable and unconditional guarantee as principal guarantors on behalf of ............ .................... [name and address of the company] for the payment to the Executive Secretariat of [insert amount equivalent to 510% of the amount set out in the annual contract, in figures and letters] corresponding to the guarantee referred to in the article of the agreement [insert agreement number and acronym] signed between the [name and address of the company] and the Executive Secretariat (hereinafter referred to as "the contract"). Payment will be made without objection or legal proceedings of any kind, upon receipt of your first written demand, sent by registered letter with advice of receipt or equivalent, stating that [name and address of company] has failed to meet one of its contractual obligations. We will not delay payment or object to payment on any grounds whatsoever. We will inform you in writing as soon as payment has been made. We further agree that no modification of the terms of the agreement signed between the Executive Secretariat and the company [name and address of the company] can release us from our obligation under this guarantee. We waive our right to be informed of any change, extension or modification of the contract. We have noted that this financial guarantee will apply until the fifteenth day (including that day) after the date of payment of the balance. The Executive Secretariat undertakes to release the guarantee within thirty (30) days of such payment by expressly releasing and returning the original guarantee to the beneficiary under the contract. In case of partial release, the original will remain in the possession of the Executive Secretariat until the date of receipt of an updated guarantee by the [financial institution] in accordance with this guarantee. This guarantee will be governed by the law applicable to the contract. Any dispute on matters relating to this guarantee will be settled in accordance with the dispute resolution rules set out in the contract. This guarantee will come into force and take effect from the date of signature. Done at [insert place], on [insert date]. [Signature]

– SUSPENSION OF THE CONTRACT. Without prejudice to its right to terminate the contract, the ES may at any time and for any reason suspend performance, in whole or in part, of the tasks provided for in the contract. Such suspension will take effect on the date on which the successful tenderer receives notification by registered letter with acknowledgement of receipt or by any other equivalent means, or on a later date specified in the notification. After suspension, the ES may at any time request the successful tenderer to resume the suspended work. The successful tenderer may not claim compensation for having suspended the contract in whole or in part. This contract is signed electronically and will enter into force on the date of signature by the last signatory. The Parties agree that the electronic signature of this Agreement using the Xolido Sign tool will be considered valid and legally binding. This Agreement will be deemed to be an original for all purposes. SIGNATURES For the successful tenderer, ………………. ………………. signature[s]: For the IOC Executive Director Xxxxxxxxxx Xxxxxxx signatures [s]: ANNEX I: SPECIFICATIONS ANNEX II: SUCCESSFUL TENDERER'S TENDERER OFFER ANNEX III: ORDER FORM INTERNATIONAL PURCHASE ORDER Number of Sheet no. Date and reference OLIVE COUNCIL C/ Príncipe xx Xxxxxxx 154 Madrid - 28002 Code of the successful tenderer: Country of origin: SPAIN Currency: EUR Tel.: 00 000 00 00 Fax: 00 000 00 00 DESCRIPTION OF THE GOODS OR SERVICES UNIT QUANTITY PRICE in € UNIT TOTAL Packaging Insurance Transport Assembly VAT TOTAL: Place of delivery or performance and/or Incoterm and working hours: Supplier's signature Date of delivery or performance: 15-20 days from acceptance Name: Payment: within 30 days of receipt of invoice Position: Supplier's bank account: Date: Acceptance of the budget by the IOC: Date of issue: Signature: Internal Comptroller Executive Director ANNEX IV: FINANCIAL GUARANTEE MODEL FINANCIAL GUARANTEE MODEL (This document must be completed on the financial institution's letterhead.) REFERENCE: GUARANTEE NO. [...] SUBJECT: FINANCIAL COLLATERAL INTENDED TO COVER THE GUARANTEE OF GOOD PURPOSE CONSTITUTED UNDER CONTRACT NUMBER XXX The undersigned, [name, address and telephone number of the financial institution], represented by [position], hereby irrevocably declare that they are jointly and severally liable to provide an irrevocable and unconditional guarantee as principal guarantors on behalf of ............ .................... [name and address of the company] for the payment to the Executive Secretariat of [insert amount equivalent to 5% of the amount set out in the annual contract, in figures and letters] corresponding to the guarantee referred to in the article of the agreement [insert agreement number and acronym] signed between the [name and address of the company] and the Executive Secretariat (hereinafter referred to as "the contract"). Payment will be made without objection or legal proceedings of any kind, upon receipt of your first written demand, sent by registered letter with advice of receipt or equivalent, stating that [name and address of company] has failed to meet one of its contractual obligations. We will not delay payment or object to payment on any grounds whatsoever. We will inform you in writing as soon as payment has been made. We further agree that no modification of the terms of the agreement signed between the Executive Secretariat and the company [name and address of the company] can release us from our obligation under this guarantee. We waive our right to be informed of any change, extension or modification of the contract. We have noted that this financial guarantee will apply until the fifteenth day (including that day) after the date of payment of the balance. The Executive Secretariat undertakes to release the guarantee within thirty (30) days of such payment by expressly releasing and returning the original guarantee to the beneficiary under the contract. In case of partial release, the original will remain in the possession of the Executive Secretariat until the date of receipt of an updated guarantee by the [financial institution] in accordance with this guarantee. This guarantee will be governed by the law applicable to the contract. Any dispute on matters relating to this guarantee will be settled in accordance with the dispute resolution rules set out in the contract. This guarantee will come into force and take effect from the date of signature. Done at [insert place], on [insert date]. [Signature]] Attach a list of persons authorised to sign the guarantees with acknowledgement of specific signatures or powers of attorney. ANNEX IV: FORM TO REQUEST BANK ACCOUNT CHANGE