Performance Guarantee definition

Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

Performance Guarantee means the bank guarantee or other form of security submitted by the contractor to secure obligations under the contract in accordance with the requirement in the bidding document

Performance Guarantee means the amount to be paid by the Successful Tenderer as per relevant clause mentioned elsewhere.

Examples of Performance Guarantee in a sentence

• And whereas The Training Partner (TP) has been empanelled for imparting training as per norms of the ASDM, subject to fulfillment of the terms and conditions of this Agreement, and for this the TP shall submit a Performance Guarantee (PG) of Rs. 50,000/- only vide a Demand Draft/ Banker’s Cheque in favour of Assam Skill Development Mission before the date of receipt of the Sanction letter by the TP.

• If the nuisance is not abated or an abatement plan is not submitted to the satisfaction of the Town, the Town may, upon thirty (30) days' notice under this Agreement, draw upon the Performance Guarantee to pay the cost of abating the nuisance, including any expenses and penalties incurred under the Winter Park Town Code.

• To secure the construction and installation of the Public Improvements, Developer shall furnish the Town, at Developer's expense and prior to the issuance of the first grading permit for the Property, a form and amount of security authorized by Section 16-15-20 of the Superior Municipal Code and approved by the Board of Trustees (the "Performance Guarantee"), which shall be one or a combination of the following: (i) letter of credit or (ii) cash escrow.

• To secure the construction and installation of the Public Improvements, Developer shall furnish the Town, at Developer's expense and prior to commencement of construction, cash or an irrevocable letter (or letters) of credit in which the Town is designated as beneficiary in an amount equal to one hundred and twenty percent (120%) of the total Estimated Costs of development (the "Performance Guarantee").

• The decision to draw on the Performance Guarantee shall be within the sole discretion of the Town.

More Definitions of Performance Guarantee

Performance Guarantee means the bank guarantee or CDR submitted by the bidder to secure obligations under the contract in accordance with the requirement in the bidding document

Performance Guarantee means the guarantee provided by the Bidder in favor of UPLC for an amount specified in the RFP. The Performance Guarantee may be in the form of Demand

Performance Guarantee of any Person means (a) any letter of credit, bankers acceptance, surety bond, performance bond, bank guarantee or other similar obligation issued for the account of such Person to support only trade payables or nonfinancial performance obligations of such Person, (b) any letter of credit, bankers acceptance, surety bond, performance bond, bank guarantee or other similar obligation issued for the account of such Person to support any letter of credit, bankers acceptance, surety bond, performance bond, bank guarantee or other similar obligation issued for the account of a Subsidiary, a Joint Venture or a Consortium of such Person to support only trade payables or non-financial performance obligations of such Subsidiary, Joint Venture or Consortium, and (c) any parent company guarantee or other direct or indirect liability, contingent or otherwise, of such Person with respect to trade payables or non-financial performance obligations of a Subsidiary, a Joint Venture or a Consortium of such Person, if the purpose of such Person in incurring such liability is to provide assurance to the obligee that such contractual obligation will be performed, or that any agreement relating thereto will be complied with.

Performance Guarantee means any form of security, including a performance bond, cash escrow, assignment of funds or irrevocable letter of credit, in an appropriate amount and in a form that is satisfactory to the City.

Performance Guarantee means any guarantee by any Person of the performance of the obligations of another Person (other than obligations in respect of payments, indebtedness or other monetary obligations of any kind) under contracts of such other Person to design, develop, manufacture, construct or produce products or production facilities (and related nonmonetary obligations) or to provide services related to any of the foregoing.

Performance Guarantee means the guarantee to be procured in accordance with

Performance Guarantee means the LNG Production Rate Performance Guarantee.