ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K – RIYAS PKG 1 & PKG 2.
TEMPLATES
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1
ANNEX K- TEMPLATES
Rev. 0 November 2023
TABLE OF CONTENTS
FORM OF WAIVER DECLARATION … 3 ANNEX K.I. FORM OF ADVANCE PAYMENT BOND … 4 ANNEX K.II. FORM OF PERFORMANCE BOND … 9 ANNEX K.III. FORM OF WARRANTY BOND … 11 ANNEX K.IV. FORM OF RELEASE LETTER … 13 ANNEX K.V. FORM OF PROVISIONAL CLOSE OUT CERTIFICATE … 16 ANNEX K.VI. ANNEX K.VII. FORM OF FINAL CLOSE OUT CERTIFICATE … 20 ANNEX K.VIII. FORM OF INSURANCE CERTIFICATE … 24 ANNEX K IX FORM OF SAMA BANK GUARANTEE………………………………………………………………………………28
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2
ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.I. FORM OF WAIVER DECLARATION
SELLER shall complete and issue to BUYER duly dated, signed and stamped the following Waiver Declaration form according to the provisions of Clause 9 of the PURCHASE CONDITIONS, being applicable the provisions of Sub-Clause 4.4 of the PURCHASE CONDITIONS.
WAIVER DECLARATION
With reference to PURCHASE ORDER No. [ PO number ] dated [COMMENCEMENT DATE], between SELLER and BUYER for [name{s} of the SUPPLY {and the SERVICES} as indicated in the PURCHASE ORDER].
SELLER hereby declares and certifies that we, on behalf of ourselves and our AFFILIATES, agents, representatives, successors, subsidiaries, parent companies and all other AFFILIATES of every tiers and all person or entities claiming through them (including, without limitation, insurers) agree to hereby unconditionally waive any and all rights to claim against OWNER that may be conferred by whatever LAW in respect of any part of the ORDER.
Executed this [day] of [ month ] of [year].
SELLER’s name: [SELLER’s name]
[SELLER’S REPRESENTATIVE signature and stamp]
By: [SELLER’S REPRESENTATIVE name]_______
Title: [SELLER’S REPRESENTATIVE title]_______
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.II. FORM OF ADVANCE PAYMENT BOND
The Advance Payment Bonds provided by SELLER shall be according to the provisions of Clause 38 of the PURCHASE CONDITIONS, and shall be in the forms included in this Annex K. For purchase order exclusively of non-tagged materials, SELLER shall use the form ANNEX K.II.A, for any other cases shall use the form ANNEX K.II.B.
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4
ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.II.A. FORM OF ADVANCE PAYMENT BOND
(FOR NON-TAGGED MATERIAL)
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ADVANCE PAYMENT BOND
Beneficiary: [Beneficiary’s full name according to Clause 7 of the Annex B of the PURCHASE CONDITIONS]
[Issuing Bank’s full name Company], resident in [Issuing Bank’s Registered Address], Tax identification number [Issuing Bank’s Tax Id number], and for it and on its behalf [Issuing Bank’s Representative full name], entitled to bind it in this act, as stipulated in deed No. [document number] dated [day] of [month] of [year] by the Notary Public [Notary’s full name].
Having knowledge of PURCHASE ORDER No. [PO No. as indicated in the PO] dated [COMMENCEMENT DATE] between [BUYER’s full Company name] (hereinafter referred as “BUYER”) and [SELLER’s full Company name] (herein after referred as “SELLER”) for the delivery of [supply name as indicated in the PO as].
We hereby guarantee, jointly and severally, SELLER in front of the Beneficiary, up to the maximum amount of [amount in figures including currency] ([amount in words including currency]), equivalent to the amount of the Advance Payment made by BUYER to SELLER under the PURCHASE ORDER, as security for the faithful observance of the obligations arising out of the above mentioned PURCHASE ORDER. Subject to the provisions of the ORDER, the amount of this Bank Guarantee may be reduced upon writing agreement dully signed by SELLER and BUYER.
We hereby guarantee to pay the Beneficiary the sum or sums up to and not exceeding the said amount as claimed by the Beneficiary, upon a first simple demand of Beneficiary within maximum 3 days after receipt without any excuse or objection.
The present Bank Guarantee is irrevocable and unconditional, binding us from the date of its issuance until the date SELLER receives the conformity of the DELIVERY by BUYER of all good included in the corresponding supplement of the PO, provided the corresponding invoices in connection with this Bank Guarantee have been paid by BUYER. This Bank Guarantee shall be assignable by the Beneficiary.
This Bank Guarantee shall be governed by and construed in accordance with the laws of Spain and shall be subject the exclusive jurisdiction of the courts of Madrid, Spain.
[Issuing Bank’s name and stamp]
[Place, date, and Issuing Bank’s representative signature]
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.II.B. FORM OF ADVANCE PAYMENT BOND
(FOR ANY OTHER CASES)
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ADVANCE PAYMENT BOND
Beneficiary: [Beneficiary’s full name according to Clause 7 of the Annex B of the PURCHASE CONDITIONS]
[Issuing Bank’s full name Company], resident in [Issuing Bank’s Registered Address], Tax identification number [Issuing Bank’s Tax Id number], and for it and on its behalf [Issuing Bank’s Representative full name], entitled to bind it in this act, as stipulated in deed No. [document number] dated [day] of [month] of [year] by the Notary Public [Notary’s full name].
Having knowledge of PURCHASE ORDER No. [PO No. as indicated in the PO] dated [COMMENCEMENT DATE] between [BUYER’s full Company name] (hereinafter referred as “BUYER”) and [SELLER’s full Company name] (herein after referred as “SELLER”) for the delivery of [supply name as indicated in the PO as].
We hereby guarantee, jointly and severally, SELLER in front of the Beneficiary, up to the maximum amount of [amount in figures including currency] ([amount in words including currency]), equivalent to the amount of the Advance Payment made by BUYER to SELLER under the PURCHASE ORDER, as security for the faithful observance of the obligations arising out of the above mentioned PURCHASE ORDER.
We hereby guarantee to pay the Beneficiary the sum or sums up to and not exceeding the said amount as claimed by the Beneficiary, upon a first simple demand of Beneficiary within maximum 3 days after receipt without any excuse or objection.
The present Bank Guarantee is irrevocable and unconditional, binding us from the date of its issuance until the date SELLER receives the conformity of the DELIVERY by BUYER of all goods included in the SUPPLY, provided the corresponding invoices in connection with this Bank Guarantee have been paid by BUYER. This Bank Guarantee shall be assignable by the Beneficiary.
This Bank Guarantee shall be governed by and construed in accordance with the laws of Spain and shall be subject the exclusive jurisdiction of the courts of Madrid, Spain.
[Issuing Bank’s name and stamp]
[Place, date, and Issuing Bank’s representative signature]
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.III. FORM OF PERFORMANCE BOND
The Performance Bond provided by SELLER shall be according to the provisions of Clause 38 of the PURCHASE CONDITIONS, and shall be in the form included in this Annex K.
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ANNEX K- TEMPLATES
Rev. 0 November 2023
PERFORMANCE BOND
Beneficiary: [Beneficiary’s full name according to Clause 7 of the Annex B of the PURCHASE CONDITIONS]
[Issuing Bank’s full name Company], resident in [Issuing Bank’s Registered Address], Tax identification number [Issuing Bank’s Tax Id number], and for it and on its behalf [Issuing Bank’s Representative full name], entitled to bind it in this act, as stipulated in deed No. [document number] dated [day] of [month] of [year] by the Notary Public [Notary’s full name].
Having knowledge of PURCHASE ORDER No. [PO No. as indicated in the PO] dated [COMMENCEMENT DATE] between [BUYER’s full Company name] (hereinafter referred as “BUYER”) and [SELLER’s full Company name] (herein after referred as “SELLER”) for the delivery of [supply name as indicated in the PO as].
We hereby guarantee, jointly and severally, SELLER in front of the Beneficiary, up to the maximum amount of [amount in figures including currency] ([amount in words including currency]), as security for the faithful observance of the obligations arising out of the above mentioned PURCHASE ORDER.
We hereby guarantee to pay the Beneficiary the sum or sums up to and not exceeding the said amount as claimed by the Beneficiary, upon a first simple demand of Beneficiary within maximum 3 days after receipt without any excuse or objection.
The present Bank Guarantee is irrevocable and unconditional, binding us from the date of its issuance until the date BUYER receives the PROVISIONAL CLOSE OUT Certificate duly signed by SELLER and the Warranty Bond issued as stated in the ORDER. This Bank Guarantee shall be assignable by the Beneficiary.
This Bank Guarantee shall be governed by and construed in accordance with the laws of Spain and shall be subject the exclusive jurisdiction of the courts of Madrid, Spain.
[Issuing Bank’s name and stamp]
[Place, date, and Issuing Bank’s representative signature]
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.IV. FORM OF WARRANTY BOND
The Warranty Bond provided by SELLER shall be according to the provisions of Clause 38 of the PURCHASE CONDITIONS, and shall be in the form included in this Annex K.
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ANNEX K- TEMPLATES
Rev. 0 November 2023
WARRANTY BOND
Beneficiary: [Beneficiary’s full name according to Clause 7 of the Annex B of the PURCHASE CONDITIONS]
[Issuing Bank’s full name Company], resident in [Issuing Bank’s Registered Address], Tax identification number [Issuing Bank’s Tax Id number], and for it and on its behalf [Issuing Bank’s Representative full name], entitled to bind it in this act, as stipulated in deed No. [document number] dated [day] of [month] of [year] by the Notary Public [Notary’s full name].
Having knowledge of PURCHASE ORDER No. [PO No. as indicated in the PO] dated [COMMENCEMENT DATE] between [BUYER’s full Company name] (hereinafter referred as “BUYER”) and [SELLER’s full Company name] (herein after referred as “SELLER”) for the delivery of [supply name as indicated in the PO as].
We hereby guarantee, jointly and severally, SELLER in front of the Beneficiary, up to the maximum amount of [amount in figures including currency] ([amount in words including currency]), as security for the faithful observance of the obligations arising out of the above mentioned PURCHASE ORDER. Subject to the provisions of the ORDER, the amount of this Bank Guarantee may be reduced upon writing agreement dully signed by SELLER and BUYER.
We hereby guarantee to pay the Beneficiary the sum or sums up to and not exceeding the said amount as claimed by the Beneficiary, upon a first simple demand of Beneficiary within maximum 3 days after receipt without any excuse or objection.
The present Bank Guarantee is irrevocable and unconditional, binding us from the date of its issuance until the date BUYER receives the FINAL CLOSE OUT Certificate duly signed by SELLER. This Bank Guarantee shall be assignable by the Beneficiary.
This Bank Guarantee shall be governed by and construed in accordance with the laws of Spain and shall be subject the exclusive jurisdiction of the courts of Madrid, Spain.
[Issuing Bank’s name and stamp]
[Place, date, and Issuing Bank’s representative signature]
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12
ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.V. FORM OF RELEASE LETTER
SELLER shall complete and issue to BUYER duly dated, signed and stamped the following Release Letter form according to the provisions of Sub-Clause 25.1 of the PURCHASE CONDITIONS, being applicable the provisions of Sub-Clause 4.4 of the PURCHASE CONDITIONS.
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ANNEX K- TEMPLATES
Rev. 0 November 2023
RELEASE LETTER
Gentlemen:
With reference to the PURCHASE ORDER No. ________________ dated ________, between the undersigned SELLER and BUYER for the SUPPLY {and the SERVICES}.
We hereby declare and certify that payment by you of the corresponding invoice No. ______ dated ________ for the amount of _____________[insert currency] shall be deemed to be the settlement as of the date of achievement of the PROVISIONAL CLOSE OUT of the SUPPLY {and the SERVICES}, and/or any other amounts due in connection with, resulting from or arising under the performance by us of the ORDER.
In consideration of the said payment, we, on behalf of ourselves and our AFFILIATES, SELLER’S PROVIDERS, agents, representatives, successors, subsidiaries, parent companies and all other affiliated of every tier and all person or entities claiming through them (including, without limitation, insurers) agree to hereby unconditionally waive, dismiss, release and forever discharge BUYER, OWNER and their AFFILIATES from all claims, demands and disputes as well as any liabilities, responsibilities and obligations of any nature whatsoever relating to, arising under or in connection with the ORDER, including but not limited to, all claims for additional works or services, [interest accrued in respect of payments], claims derived from omissions or errors we may have incurred in calculating the quantities or unit prices/rates regarding the work certificates, claims relating to price revision or escalation, claims regarding unforeseen circumstances encountered during the performance of the ORDER, etc. whether such claims are (or could have been) based in contract, tort, equity, law or otherwise asserted under any legal theory.
Consequently, this Release Letter shall constitute conclusive evidence for all purposes and in any proceedings whatsoever between SELLER and BUYER that BUYER has satisfied its obligations in all regards towards SELLER under the ORDER for the achievement of the PROVISIONAL CLOSE OUT.
We hereby further certify, represent and warrant that we have settled all debts, liabilities and obligations contracted or incurred with third parties in connection with the ORDER and that, therefore, the SUPPLY {and the SERVICES} is {are} free from any liens, claims, charges, security interests, preferential rights, attachments, retention rights or encumbrances of any nature whatsoever which have been or could be asserted by third parties including SELLER’S personnel, under any legal theory, applicable law or jurisdiction, such as but not limited to materials men’s, labourers’, mechanics’, subcontractors’ and vendors’ liens and we shall provide due evidence of the foregoing warranties and representations, if so requested by BUYER.
Accordingly, we agree to indemnify and hold harmless BUYER, OWNER and their respective successors, assigns, directors, officers, agents, and employees and their properties from and against all costs, losses, damages, claims, causes of actions, judgments and expenses, including attorney’s fees arising out of or in connection with claims against BUYER or its property which arise out of the performance of the ORDER, and which may be asserted by any of the SELLER’S PROVIDERS, or any of their employees or agents or otherwise resulting from the breach of the foregoing warranties and representations.
This Release Letter shall be without prejudice to and shall not affect the obligations under the ORDER which at the date of the issuance of this letter and which by their nature, shall survive the achievement of the PROVISIONAL CLOSE OUT including, without limitation, warranties, guarantees and indemnities; such obligations to be discharged strictly in accordance with the terms of the ORDER.
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14
ANNEX K- TEMPLATES
Rev. 0 November 2023
The terms in capital letters used in this letter have the same meaning given in the Annex A of the PURCHASE CONDITIONS.
Executed this [day] of [ month ] of [year].
[SELLER’S REPRESENTATIVE signature and stamp]
SELLER’S REPRESENTATIVE:
[SELLER’S REPRESENTATIVE name]
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ANNEX K- TEMPLATES
Rev. 0 November 2023
ANNEX K.VI. FORM OF PROVISIONAL CLOSE OUT CERTIFICATE
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[PROJECT name]
[name of the SUPPLY as indicated in the PURCHASE ORDER]
PROVISIONAL CLOSE OUT CERTIFICATE
PO No.:
[PO Number]
Rev.: X
Page:
[NAME OF THE SUPPLY AND/OR THE SERVICES AS INDICATED IN THE PURCHASE ORDER]
Between: [SELLER’s name as indicated in the PURCHASE ORDER] (“SELLER”)
And: [BUYER’s name as indicated in the ORDER] (“BUYER”)
PROVISIONAL CLOSE OUT CERTIFICATE
- Pursuant to Sub-Clause 25.1, BUYER certifies that the PROVISIONAL CLOSE OUT has been
achieved being that SELLER has satisfied its responsibilities accordingly.
-
This PROVISIONAL CLOSE OUT Certificate will not enter into force unless and until it has not been returned to BUYER duly signed by SELLER, being applicable the provisions of Sub-Clause 4.4.
-
According to the provisions of Sub-Clause 26.4, the WARRANTY PERIOD is declared commenced
from the achievement date of the PROVISIONAL CLOSE OUT stated herein.
-
The PARTIES agree upon all amounts specified in the Appendix I of this certificate. The Total Amount, as defined therein, represents the balance of the ORDER PRICE due to the SUPPLY {and the SERVICES} and all payable amounts to BUYER at the date of BUYER’s signature of this certificate. The Total Amount may vary due to charges and back-charges because of those unforeseen activities may arise during the WARRANTY PERIOD.
-
This certificate shall not relieve SELLER from any and all obligations under the ORDER which at the date of achievement of the PROVISIONAL CLOSE OUT has not been expired or expressly discharged by BUYER.
-
The terms in capital letters used in this certificate and its appendixes have the meaning given in the
Annex A of the PURCHASE CONDITIONS.
- All references to Clauses and Sub-Clauses made in this certificate and its appendixes correspond
to the PURCHASE CONDITIONS.
PROVISIONAL CLOSE OUT achievement date: [day] of [month] of [year].
[BUYER’s Representative signature and stamp]
[SELLER’S REPRESENTATIVE signature and stamp]
BUYER’s Representative:
SELLER’S REPRESENTATIVE:
[BUYER’s Representative name]
[SELLER’S REPRESENTATIVE name]
BUYER’s signature date: [dd/mmm/yyyy]
SELLER’s signature date: [dd/mmm/yyyy]
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17
[PROJECT name]
[name of the SUPPLY as indicated in the PURCHASE ORDER]
PROVISIONAL CLOSE OUT CERTIFICATE
PO No.:
[PO Number]
Rev.: X
Page:
APPENDIX I
[NAME OF THE SUPPLY AND/OR THE SERVICES AS INDICATED IN THE PURCHASE ORDER]
Between: [SELLER’s name as indicated in the PURCHASE ORDER] (“SELLER”)
And: [BUYER’s name as indicated in the ORDER] (“BUYER”)
Notes
ORDER PRICE PO Supplement 00:
Current ORDER PRICE:
Back-charges:
Claims/Bonus:
Applicable Liquidated Damages:
Other Items:
Total Amount:
Outstanding Issues (Punch items, Pending Activities, etc.)
Responsible
To be Completed on Date
Notes
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18
[PROJECT name]
[name of the SUPPLY as indicated in the PURCHASE ORDER]
PROVISIONAL CLOSE OUT CERTIFICATE
PO No.:
[PO Number]
Rev.: X
Page:
Other Notes:
[BUYER’s Representative signature and stamp]
[SELLER’S REPRESENTATIVE signature and stamp]
BUYER’s Representative:
SELLER’S REPRESENTATIVE:
[BUYER’s Representative name]
[SELLER’S REPRESENTATIVE name]
BUYER’s signature date: [dd/mmm/yyyy]
SELLER’s signature date: [dd/mmm/yyyy]
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19
[PROJECT NAME (in capital letters)]
ANNEX K-[PPPPP (PROJECT NUMBER)]. TEMPLATES
Rev. 0[X] [Month yyyy]
ANNEX K.VII. FORM OF FINAL CLOSE OUT CERTIFICATE
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20
[PROJECT name]
[name of the SUPPLY as indicated in the PURCHASE ORDER]
FINAL CLOSE OUT CERTIFICATE
PO No.:
[PO Number]
Page:
[NAME OF THE SUPPLY AND/OR THE SERVICES AS INDICATED IN THE PURCHASE ORDER]
Between: [SELLER’s name as indicated in the PURCHASE ORDER] (“SELLER”)
And: [BUYER’s name as indicated in the ORDER] (“BUYER”)
FINAL CLOSE OUT CERTIFICATE
1
2
3
to Sub-Clause 28.1, BUYER hereby accepts
Pursuant the SERVICES}is{are} in accordance with the ORDER and certifies that the FINAL CLOSE OUT has been achieved being that SELLER has satisfied its responsibilities accordingly.
the SUPPLY {and
that
This FINAL CLOSE OUT Certificate will not enter into force unless and until it has not been returned to BUYER duly signed by SELLER, being applicable the provisions of Sub-Clause 4.4.
The PARTIES declare and certify that amounts specified in the Appendix I of this certificate, shall be deemed to be the full and final settlement regarding the SUPPLY, {the SERVICES,} any activity rendered and any other amount due resulting or arising or in connection with the related PURCHASE ORDER.
In consideration of the said amounts, SELLER, on behalf of itself and its AFFILIATES, SELLER’S PROVIDERS, agents, representatives, successors, subsidiaries, parent companies and all other affiliated of every tier and all person or entities claiming through them (including, without limitation, insurers) agree to hereby unconditionally waive, dismiss, release and forever discharge BUYER, OWNER and their AFFILIATES from all claims, demands and disputes as well as any liabilities, responsibilities and obligations of any nature whatsoever relating to, arising under or in connection with the ORDER, including but not limited to, all claims for additional works or services, (interest accrued in respect of payments), claims derived from omissions or errors the PARTIES may have incurred in calculating the quantities or unit prices/rates regarding the work certificates, claims relating to price revision or escalation, claims regarding unforeseen circumstances encountered during the performance of the ORDER, etc. whether such claims are (or could have been) based in contract, tort, equity, law or otherwise asserted under any legal theory.
Consequently, this FINAL CLOSE OUT Certificate shall constitute conclusive evidence for all purposes and in any proceedings whatsoever between BUYER and SELLER that BUYER has satisfied its obligations in all regards towards SELLER under the ORDER.
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21
[PROJECT name]
[name of the SUPPLY as indicated in the PURCHASE ORDER]
FINAL CLOSE OUT CERTIFICATE
PO No.:
[PO Number]
Page:
4
5
6
7
SELLER hereby further certifies, represents and warrants that SELLER has settled all debts, liabilities and obligations contracted or incurred with third parties in connection with the ORDER and that, therefore, the SUPPLY {and the SERVICES}is{are} free from any liens, claims, charges, security interests, preferential rights, attachments, retention rights or encumbrances of any nature whatsoever which have been or could be asserted by third parties including SELLER’s personnel, under any legal theory, applicable law or jurisdiction, such as but not limited to materials men’s, labourers’, mechanics’, subcontractors’ and vendors’ liens and SELLER shall provide due evidence of the foregoing warranties and representations, if so requested by BUYER.
This certificate shall not relieve SELLER from any and all obligations under the ORDER which at the date of achievement of this FINAL CLOSE OUT has not been expired or expressly discharged by BUYER.
The terms in capital letters used in this certificate and its appendixes have the same meaning given in the Annex A of the PURCHASE CONDITIONS.
All references to Clauses and Sub-Clauses made in this certificate and its appendixes correspond to the PURCHASE CONDITIONS.
FINAL CLOSE OUT achievement date: [day] of [month] of [year].
[BUYER’s Representative signature and stamp]
[SELLER’S REPRESENTATIVE signature and stamp]
BUYER’s Representative:
SELLER’S REPRESENTATIVE:
[BUYER’s Representative name]
[SELLER’S REPRESENTATIVE name]
Signed by BUYER on date:
Signed by SELLER on date:
[dd/mmm/yyyy]
[dd/mmm/yyyy]
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22
[PROJECT name]
[name of the SUPPLY as indicated in the PURCHASE ORDER]
FINAL CLOSE OUT CERTIFICATE
APPENDIX I
PO No.:
[PO Number]
Rev.:X
Page:
[NAME OF THE SUPPLY AND/OR THE SERVICES AS INDICATED IN THE PURCHASE ORDER]
Between: [SELLER’s name as indicated in the PURCHASE ORDER] (“SELLER”)
And: [BUYER’s name as indicated in the ORDER] (“BUYER”)
Notes
ORDER PRICE PO Supplement 00:
Current ORDER PRICE:
Back-charges:
Claims/Bonus:
Applicable Liquidated Damages:
Other Items:
Final Total Amount:
Other Notes:
[BUYER’s Representative signature and stamp]
[SELLER’S REPRESENTATIVE signature and stamp]
BUYER’s Representative:
SELLER’S REPRESENTATIVE:
[BUYER’s Representative name]
[SELLER’S REPRESENTATIVE name]
BUYER’s signature date: [dd/mmm/yyyy]
SELLER’s signature date: [dd/mmm/yyyy]
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[PROJECT NAME (in capital letters)]
ANNEX K-[PPPPP (PROJECT NUMBER)]. TEMPLATES
Rev. 0[X] [Month yyyy]
ANNEX K.VIII.
FORM OF INSURANCE CERTIFICATE
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[PROJECT NAME (in capital letters)]
ANNEX K-[PPPPP (PROJECT NUMBER)]. TEMPLATES
Rev. 0[X] [Month yyyy]
ANNEX K.IX. SAMA FORMAT BANK GUARANTEE / ADVANCE/
PERFORMANCE/ WARRANTY
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[PROJECT NAME (in capital letters)]
ANNEX K-[PPPPP (PROJECT NUMBER)]. TEMPLATES
Rev. 0[X] [Month yyyy]
SAMA FORMAT BANK GUARANTEE / ADVANCE/ PERFORMANCE / WARRANTY
Beneficiary: [Beneficiary’s full name according to Clause 7 of the Annex B of the PURCHASE CONDITIONS]
Since you´ve awarded our clients: [MESSRS/ address/ a contract for XXXXXXX PO dated XXXX].
We, [name of bank] hereby irrevocably and unconditionally guarantee the payment to you of: [XX Amount and currency and by words], which represents [ %], of the value of the contract. In accordance with the following:
A) We shall pay you immediately upon your written demand and irrespective of any objection by the contractor or any other party such amount or amounts as you may demand not exceeding in the aggregate the above-mentioned amount namely: [XX Amount and currency and by words] by transfer to your account at any bank in Kingdom of Saudi Arabia or in any other manner acceptable to you.
B) All payment made based on your demand shall be free and clear of, and without any present or future deduction for payment of, any Taxes, levies, duties charges, fees deductions or withholding of any nature whatsoever and by whomsoever imposed.
C) The undertakings contained in this guarantee constitutes unconditional and irrevocable obligations of the Guarantor. No alteration in the terms of the contract and no modification or extension of the contract or in the extent or nature of the work to be performed thereunder and no indulgence, allowance of time by you and other forbearance or concession or any other act or omission by you which but for this provision might exonerate or discharge the guarantor shall in any way release the guarantee from any liability hereunder.
D) This guarantee shall remain valid and in full force and effect up to the end of [date] pursuant to the conditions of this guarantee, in the event that you give the Guarantor on or prior to the said expiry date of this guarantee (or any subsequent extension) of that expiry date in accordance with this provision signed notification requesting an extension Guarantor will:
- Automatically extend this guarantee for the required period (not exceeding 365 days)
from that expiring date or extension as you may specify in the notification; or
- Pay you the value of the guarantee
E) The Guarantor represents and warrants that the amount of the guarantee herein contained does not exist 20 percent of the total paid capital and reserves of the Guarantor.
F) This guarantee is governed by and shall be construed in accordance with the laws and regulations of the Kingdom of Saudi Arabia.
[Issuing Bank’s name and stamp]
[Place, date, and Issuing Bank’s representative signature]
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Project: Q-31108 - Tecnicas - Riyas Folder: PURCHASE CONDITIONS SEP.21 REV.01