The Mobilisation Advance Bank Guarantee is a crucial document in Pakistani construction and infrastructure projects where substantial upfront funding is required. It is typically issued when a project owner provides advance funds to a contractor for initial project mobilisation, such as purchasing equipment, setting up site facilities, or meeting preliminary expenses. The guarantee ensures that the advance payment will be repaid to the project owner if the contractor fails to utilize the funds properly or defaults on their obligations. Under Pakistani law, these guarantees must conform to State Bank of Pakistan regulations and are commonly used in both public and private sector projects. The document includes specific details about the guaranteed amount, validity period, conditions for invocation, and claim procedures.
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1. Bank Details and Reference Number: Letterhead and unique reference number of the bank guarantee
2. Beneficiary Details: Full name and address of the party receiving the guarantee (typically the employer/project owner)
3. Underlying Contract Reference: Details of the main contract for which mobilisation advance is being provided
4. Guarantee Amount: The specific sum guaranteed, expressed in both figures and words
5. Guarantee Scope: Clear statement of the bank's undertaking to pay the guaranteed amount upon first demand
6. Validity Period: Specific commencement and expiry dates of the guarantee
7. Claim Procedure: Process for making a claim under the guarantee, including notice requirements
8. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant jurisdiction
1. Reduction Clause: Optional clause specifying progressive reduction of guarantee amount in line with repayment of mobilisation advance
2. Extension Mechanism: Clause describing the process for extending the guarantee validity if required
3. Assignment Restriction: Clause restricting the assignment or transfer of the guarantee
4. Force Majeure Provisions: Specific provisions dealing with force majeure events affecting the guarantee
5. Counter-Guarantee Reference: Required only if issued through a corresponding bank arrangement
1. Form of Demand Notice: Template for the beneficiary to use when making a claim under the guarantee
2. Copy of Advance Payment Terms: Relevant extract from the main contract regarding mobilisation advance terms
3. Reduction Schedule: If applicable, schedule showing the progressive reduction of guarantee amount
4. Authentication Documents: Copies of authorized signatures and powers of attorney of bank signatories
Relevant legal definitions
Clauses
Relevant Industries
Construction
Infrastructure Development
Energy and Power
Mining
Telecommunications
Real Estate Development
Manufacturing
Oil and Gas
Public Works
Industrial Development
Relevant Teams
Legal
Finance
Procurement
Project Management
Commercial
Treasury
Risk Management
Construction Management
Contract Administration
Business Development
Relevant Roles
Project Manager
Contract Manager
Chief Financial Officer
Finance Manager
Legal Counsel
Bank Relationship Manager
Construction Manager
Procurement Manager
Risk Manager
Treasury Manager
Company Secretary
Project Director
Commercial Manager
Business Development Manager
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