been exempted, the Consultant, Sub-consultants or Experts, as the case may be, (a) shall bear such customs duties and taxes in conformity with the regulations of the country, or (b) shall Client’s reimburse them to the Client if they were paid by the Client at the time the property in question was brought into the country. Client’s The currency [currencies] of payment shall be the following: 44.1 [list currency(ies) which should be the same as in the Financial Proposal, Form FIN-2] 45.1(a) [The advance payment could be in either the foreign currency, or the local currency, or both; select the correct wording in the Clause here below. The advance bank payment guarantee should be in the same currency(ies)] The following provisions shall apply to the advance payment and the advance bank payment guarantee: (1) An advance payment [of in foreign currency] [insert amount] [and of in local currency] shall be made within [insert amount] days after the Effective Date. The advance [insert number] payment will be set off by the Client in equal installments against the statements for the first months of the [insert number] Services until the advance payment has been fully set off. (2) The advance bank payment guarantee shall be in the amount and in the currency of the currency(ies) of the advance payment. 45.1(b) [Delete this Clause SCC 45.1(b) if the Consultant shall have to submit its itemized statements monthly. Otherwise, the following text can be used to indicate the required intervals: The Consultant shall submit to the Client itemized statements at time intervals of __________________ [e.g. “every quarter”, “every two six months”, “every weeks”, etc.]. 45.1(e) The accounts are: for foreign currency: [insert account]. for local currency: [insert account]. The interest rate is: 46.1 [insert rate].
been exempted, the Consultant, Sub-consultants or Experts, as the case may be, (a) shall bear such customs duties and taxes in conformity with the regulations of the Client’s country, or (b) shall reimburse them to the Client if they were paid by the Client at the time the property in question was brought into the Client’s country. 44.1 The currency [currencies] of payment shall be the following: [list currency(ies) which should be the same as in the Financial Proposal, Form FIN-2] 45.1(a) [The advance payment could be in either the foreign currency, or the local currency, or both; select the correct wording in the Clause here below. The advance bank payment guarantee should be in the same currency(ies)] The following provisions shall apply to the advance payment and the advance bank payment guarantee: (1) An advance payment [of [insert amount] in foreign currency] [and of [insert amount] in local currency] shall be made within [insert number] days after the Effective Date. The advance payment will be set off by the Client in equal installments against the statements for the first [insert number] months of the Services until the advance payment has been fully set off. (2) The advance bank payment guarantee shall be in the amount and in the currency of the currency(ies) of the advance payment. 45.1(b) [Delete this Clause SCC 45.1(b) if the Consultant shall have to submit its itemized statements monthly. Otherwise, the following text can be used to indicate the required intervals: The Consultant shall submit to the Client itemized statements at time intervals of __________________ [e.g. “every quarter”, “every six months”, “every two weeks”, etc.]. 45.1(e) The accounts are: for foreign currency: [insert account]. for local currency: [insert account]. 46.1 The interest rate is: [insert rate].