in the form provided in the bidding document or another form acceptable to the Purchaser. (ii) On Delivery: Eighty (80) percent of the Contract Price shall be paid on receipt of the Goods and upon submission of the documents specified in GCC Clause 13. (iii) The remaining ten (10) percent of the Contract On Acceptance: Price shall be paid to the Supplier within thirty (30) days after the date of the acceptance certificate for the respective delivery issued by the Purchaser. GCC 16.5 The payment-delay period after which the Purchaser shall pay interest to the supplier shall be days. [insert number] The interest rate that be applied is [insert number] % GCC 18.1 A Performance Security [ insert or not” be required] “shall” “shall [If a Performance Security is required, insert amount of the “the Performance Security shall be: [insert amount] [The amount of the Performance Security is usually expressed as a percentage of the Contract Price. The percentage varies according to the Purchaser’s perceived risk and impact of non-performance by the Supplier. A 10% percentage is used under normal circumstances] GCC 18.3 If required, the Performance Security shall be in the form of: [insert “a Demand Guarantee” or” a Performance Bond”] If required, the Performance security shall be denominated in [insert “a freely convertible currency acceptable to the Purchaser” or the “ currencies of payment of the Contract, in accordance with their portions of the Contract Price”] GCC 18.4 Discharge of the Performance Security take place: [ insert date if different from the one indicated in sub clause GCC 18.4] GCC 23.2 The packing, marking and documentation within and outside the packages shall be: [insert in detail the type of packing required, the markings in the packing and all documentation required] GCC 24.1 The insurance coverage be as specified in the Incoterms. If not in accordance with Incoterms, insurance be as follows: [insert specific insurance provisions agreed upon, including coverage, currency and amount]
in the form provided in the bidding document or another form acceptable to the Purchaser. (ii) On Delivery: Eighty (80) percent of the Contract Price shall be paid on receipt of the Goods and upon submission of the documents specified in GCC Clause 13. (iii) On Acceptance: The remaining ten (10) percent of the Contract Price shall be paid to the Supplier within thirty (30) days after the date of the acceptance certificate for the respective delivery issued by the Purchaser. GCC 16.5 The payment-delay period after which the Purchaser shall pay interest to the supplier shall be [insert number] days. The interest rate that be applied is [insert number] % GCC 18.1 A Performance Security [ insert “shall” or “shall not” be required] [If a Performance Security is required, insert “the amount of the Performance Security shall be: [insert amount] [The amount of the Performance Security is usually expressed as a percentage of the Contract Price. The percentage varies according to the Purchaser’s perceived risk and impact of non-performance by the Supplier. A 10% percentage is used under normal circumstances] GCC 18.3 If required, the Performance Security shall be in the form of: [insert “a Demand Guarantee” or” a Performance Bond”] If required, the Performance security shall be denominated in [insert “a freely convertible currency acceptable to the Purchaser” or “ the currencies of payment of the Contract, in accordance with their portions of the Contract Price”] GCC 18.4 Discharge of the Performance Security take place: [ insert date if different from the one indicated in sub clause GCC 18.4] GCC 23.2 The packing, marking and documentation within and outside the packages shall be: [insert in detail the type of packing required, the markings in the packing and all documentation required] GCC 24.1 The insurance coverage be as specified in the Incoterms. If not in accordance with Incoterms, insurance be as follows: [insert specific insurance provisions agreed upon, including coverage, currency and amount]
SPD-Request-for-Bids-GOODS-1-envelope-OCT-2017.docx