Delayed Payment 14.8 Financing charges shall be: For US Dollars, London Inter-bank Lending Rate (LIBOR) plus percent and for local [insert percentage] [( %)] currency, Base rate of the National Bank of [insert Country]. Currencies of Payment 14.15 Currencies of payment be: the currency(ies) of the Accepted Contract Amount. General Requirements 18.1(a) Insuring Party shall submit evidence of insurance: for Insurances on or prior to the Commencement Date. Insuring Party shall submit copies of insurance policies: on or prior to the Commencement Date. Insurance for Works 18.2 Deductibles per occurrence shall not exceed: and Contractor’s USD [insert] per occurrence. Equipment Insurance against 18.3 per occurrence shall not be less than: Injury to Persons and USD [insert] per occurrence. Damage to Property Appointment of the 20.2 Appointment of the DAB: Within twenty eight (28) Dispute Adjudication days after the Commencement Date. Board DAB comprise: [insert] members. Failure to Agree 20.3 Appointing entity shall be: [insert] Dispute Adjudication Board Arbitration 20.6(a)(i) International arbitration institution shall be: A tribunal established in accordance with UNCITRAL arbitration rules. The seat place) of the arbitration proceedings shall be: [insert] Form of Bid Security (Bank Guarantee) Bank: [Bank’s Name, and Address of Issuing Branch or Office] Beneficiary: [Name and Address of Employer] Date: ________________ BID GUARANTEE No.: _________________ We have been informed that (hereinafter called "the [insert name of the Bidder] Bidder") has submitted to you its Bid dated (hereinafter called "the Bid") for the
Delayed Payment 14.8 Financing charges shall be: For US Dollars, London Inter-bank Lending Rate (LIBOR) plus [insert percentage] percent [( %)] and for local currency, Base rate of the National Bank of [insert Country]. Currencies of Payment 14.15 Currencies of payment be: the currency(ies) of the Accepted Contract Amount. General Requirements for Insurances 18.1(a) Insuring Party shall submit evidence of insurance: on or prior to the Commencement Date. Insuring Party shall submit copies of insurance policies: on or prior to the Commencement Date. Insurance for Works and Contractor’s Equipment 18.2 Deductibles per occurrence shall not exceed: USD [insert] per occurrence. Insurance against Injury to Persons and Damage to Property 18.3 per occurrence shall not be less than: USD [insert] per occurrence. Appointment of the Dispute Adjudication Board 20.2 Appointment of the DAB: Within twenty eight (28) days after the Commencement Date. DAB comprise: [insert] members. Failure to Agree Dispute Adjudication Board 20.3 Appointing entity shall be: [insert] Arbitration 20.6(a)(i) International arbitration institution shall be: A tribunal established in accordance with UNCITRAL arbitration rules. The seat place) of the arbitration proceedings shall be: [insert] Form of Bid Security (Bank Guarantee) Bank: [Bank’s Name, and Address of Issuing Branch or Office] Beneficiary: [Name and Address of Employer] Date: ________________ BID GUARANTEE No.: _________________ We have been informed that [insert name of the Bidder] (hereinafter called "the Bidder") has submitted to you its Bid dated (hereinafter called "the Bid") for the