- The validity of the guarantee contract performance:
+ contract performance guarantee takes effect from the date the Purchaser open letter of credit (L / C) for the contract until after Confirmation temporary handover of Unit finally been released and the Purchaser receives the warranty guarantee prescribed.
- The cost of opening and maintaining contract performance guarantee shall be borne by the Seller bear.
- Value of performance guarantee contracts unchanged in case of necessity to extend
the validity of the guarantee. The Purchaser has the right to send a notice requiring temporary bank refund guarantee contract performance as Seller unfinished obligations under the provisions of the contract.
If the Purchaser deems Seller can not fulfill the obligations within the time prescribed by the contract or time limit be adjusted to the General Conditions of Contract (DKC) -15, the Buyer will issue a written request for an extension Vendor contract performance guarantee. Seller shall have extended the contract performance guarantee and assure the Purchaser receives the contract performance guarantee prior to the expiration of the guarantee contract performance before twenty (20) days. If the Seller does not extend the validity of the contract performance guarantee, the Purchaser has the right to inform the bank and confiscate the performance guarantee contract before the expiration of 48 hours.
The value of the contract performance guarantee will remain in all cases when prolonged guarantee of contract performance. The Purchaser has the right to issue letters of request temporary bank refund guarantees not to perform the contract if the Seller has not fulfilled their obligations under the Contract.
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