2. This guarantee expire on return of this original document by the Commission to our offices by registered letter or by courier with acknowledgement of receipt. 3. [Option 1: This must occur at the latest one month after the payment of the balance under the contract has been made or three months after the issuance of the corresponding recovery order.] [Option 2: This must occur at the latest during the month after the pre-financing under the contract has been cleared through interim payment[s].] [Option 3: (indicate a precise date).] This must in any case, at the latest, on 4. After expiry, this guarantee shall become automatically null and void and no claim relating thereto shall be receivable for any reason whatsoever. Article 6 Applicable Law and Competent Jurisdiction – Option 1 1. This guarantee shall be governed by and construed in accordance with the law applicable to the contract. 2. The courts having jurisdiction for matters relating to the contract shall have sole jurisdiction in respect of matters relating to this guarantee. Option 2 Any dispute concerning this guarantee shall be governed by and construed in accordance with the Law [of the country of establishment of the [Contractor][Bank]] and fall within the sole competence of the [corresponding national] Courts. Article 7 - Assignment The rights arising from this guarantee may not be assigned [without our written consent]. Done at [insert place], on [insert date] __________________ [__________________] [Signature/ [Signature/ Function at the Financial Institution/Bank] Function at the Financial Institution/Bank]
2. This guarantee expire on return of this original document by the Commission to our offices by registered letter or by courier with acknowledgement of receipt. 3. [Option 1: This must occur at the latest one month after the payment of the balance under the contract has been made or three months after the issuance of the corresponding recovery order.] [Option 2: This must occur at the latest during the month after the pre-financing under the contract has been cleared through interim payment[s].] [Option 3: This must in any case, at the latest, on (indicate a precise date).] 4. After expiry, this guarantee shall become automatically null and void and no claim relating thereto shall be receivable for any reason whatsoever. Article 6 – Applicable Law and Competent Jurisdiction Option 1 1. This guarantee shall be governed by and construed in accordance with the law applicable to the contract. 2. The courts having jurisdiction for matters relating to the contract shall have sole jurisdiction in respect of matters relating to this guarantee. Option 2 Any dispute concerning this guarantee shall be governed by and construed in accordance with the Law [of the country of establishment of the [Contractor][Bank]] and fall within the sole competence of the [corresponding national] Courts. Article 7 - Assignment The rights arising from this guarantee may not be assigned [without our written consent]. Done at [insert place], on [insert date] __________________ [__________________] [Signature/ [Signature/ Function at the Financial Institution/Bank] Function at the Financial Institution/Bank]