ABSTRACT
The Contractor shall obtain an Advance Payment Guarantee in amounts and currencies equal to the Advance Payment, and shall submit it to the Employer with a copy to the Engineer. This guarantee shall be issued by an entity and from within a country to which the Employer gives consent, and shall be based on the sample form included in the tender documents or on another form agreed by the Employer. When submitting the Advance Payment Guarantee, the Contractor shall include an application for the Advance Payment. It would be quite unusual for a Contractor not to submit the application for the Advance Payment having gone to the expense of obtaining the Advance Payment Guarantee. The Advance Payment shall be repaid through percentage deductions in Payment Certificates. The Contractor shall submit a Statement to the Engineer after the end of the period of payment stated in the Contract Data.
