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This is to say that this acts as a. Advance Payment Bond. To voestalpine Automotive Components Linz GmbH. Guarantees that the advance payment will be returned to the buyer if the seller does not fulfil its obligations on delivery of goods or services. It is also required . Bronze Wing Trading L.

Unlike other banking . Also called an advance payment bond. A contract under which the issuer undertakes to be responsible for the fulfilment of a contractual obligation owed by one . Normally the amount of the bond equals the sum advanced. Facilitates payments to contractors prior to work being done.

A guarantee that any advance payments made by a customer will be reimbursed if the company cannot fulfil its obligations under the. At the request of (name and address of applicant), we hereby guarantee you irrevocably for the above maximum amount to secure refund of the advance payment. Sample advance payment bond (on demand) which ensures that the exporter will pay back the advance payment to the importer if he fails to perform his .

Definition of advance payment bond : A standby letter of credit from a bank or a bond from a surety company, issued to a customer making an advance. Looking for abbreviations of APB? Contractor substantially in the form set forth in Schedule 3. A request for a tender received by your company or an export agreement you have signed often requires an advance payment bond or a performance bond. Generally, advance payment bonds will not be required in connection with USAID contracts containing an advance payment provision. De très nombreux exemples de phrases traduites contenant advance payment bond – Dictionnaire français-anglais et moteur de recherche de traductions . However, alternative claims may be brought pursuant to both a payment bond and.

ADVANCE PAYMENT BOND. Bruce Shreves , ‎ American Bar Association. This bond is usually effected by a contractor before any advance payment is made to him by the principal either as mobilization fee or advance payment of the. A contractor provides an advance payment contract bond that guarantees the contractor will repay or settle the cash paid in advance of contract . The advance payment provisions do not apply until the employer has received this guarantee. The guarantee must also remain valid and enforceable until the . Found in: Construction.

This Precedent is a standard advance payment bond for use . Once the client is unable to fulfill the principal contract, Guarantee Bank returns or pays in advance the equivalent amount upon receipt of the claim from importer. Muchos ejemplos de oraciones traducidas contienen “ advance payment bond ” – Diccionario español-inglés y buscador de traducciones en español.

Delegated legislation. If the Government gives an advance of percent, the banks are loath to make any loan . Committee on the Judiciary. An advance payment .