Advance Payment Guarantee
On behalf of [name and address of contractual partner]
– Vendor –
we
[name and address of bank]
– Guarantee Bank –
are drawing up the following
Advance Payment Guarantee
in favour of the
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Dag-Hammarskjöld-Weg 1-5, 65760 Eschborn Germany
– Purchaser –
The Vendor and Purchaser have concluded a contract on [date] with the order number [●] (‘Contract’). In this Contract, the Vendor undertakes to deliver [description of goods] with a total value of [●] to the Purchaser. The parties have agreed that the Purchaser will pay the Vendor a down payment of [●] per cent of the purchase price on receipt of a bank guarantee of the same amount in favour of the Purchaser.
In this Contract, the Guarantee Bank hereby undertakes – irrevocably, without examining the basic legal relationship and waiving any objection or plea arising from it – to pay to the Pur- chaser without delay upon the Purchaser’s first written request an amount of up to
EUR [●]
(in words: [●] euros)
if the Purchaser simultaneously confirms in writing to the Guarantee Bank that the Vendor has not delivered the goods and has not fulfilled its obligation to repay the advance payment.
This guarantee will automatically expire once the Guarantee Bank has received this certifi- cate back.
The rights and obligations arising from this guarantee shall be governed by the law of the Federal Republic of Germany. The place of jurisdiction for all disputes resulting from this guarantee shall be Frankfurt am Main.
[Place], on [date]
……………………………………………. [Signature of Guarantee Bank]