Article 7: To ensure the implementation of the contract and advance payment guarantee
7.1. Ensure the implementation of the contract
- the contractor must submit the contract performance guarantee equivalent to 10% of contract value to the investor within 07 days after the contract was signed. In the form attached.
- Ensure implementation of the contract validity period of 120 days from the date of issue.
- If the terms of the contract performance guarantee stated expiration date, and the contractor has not completed the mean contractual services of the contractor at fault, the contractor will have to extend the value of the guarantee contract performance until the work has been completed.
- A case the guarantee extension request no fault of party B, party A shall bear the costs for the extension of the guarantee.
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