The Advance Performance Guarantee is a fundamental document in Qatar's commercial and construction sectors, typically required when substantial advance payments are made at the beginning of major projects. This guarantee provides security to project owners or employers who need to make advance payments to contractors or suppliers for project mobilization or materials procurement. The document, governed by Qatar law and often incorporating Sharia principles, creates a direct, unconditional obligation on the issuing bank to pay the guaranteed amount upon valid demand. It protects the beneficiary against misuse of advance payments or contractor default, ensuring that advanced funds are either properly utilized for project purposes or returned. The guarantee includes specific provisions regarding validity period, demand mechanisms, and enforcement procedures, all structured to comply with Qatar's legal framework and banking regulations.
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1. Bank Details and Reference: Complete details of the issuing bank, including branch, reference numbers and date
2. Beneficiary Details: Full name and address of the party receiving the guarantee
3. Principal Details: Full name and address of the party on whose behalf the guarantee is issued
4. Guarantee Amount: The maximum amount guaranteed, expressed in both figures and words
5. Underlying Contract Reference: Details of the primary contract or tender for which the guarantee is being issued
6. Purpose of Guarantee: Clear statement of the guarantee's purpose as an advance payment guarantee
7. Terms of Payment: Conditions under which the guarantee can be called upon and payment will be made
8. Validity Period: Clear specification of the guarantee's start and expiry dates
9. Governing Law and Jurisdiction: Statement that the guarantee is governed by Qatar law and subject to Qatar courts
10. Demand Requirements: Specific requirements for making a valid demand under the guarantee
1. Sharia Compliance Statement: Statement confirming the guarantee's compliance with Sharia principles - required if the guarantee needs to be explicitly Sharia-compliant
2. Language Precedence: Where the guarantee is bilingual, specification of which language version prevails - needed for bilingual guarantees
3. Assignment Provisions: Terms regarding whether the guarantee can be assigned - include if assignment might be relevant
4. Reduction Clauses: Provisions for automatic reduction of the guarantee amount over time - include if agreed with the parties
5. Counter-Guarantee Reference: Reference to any counter-guarantee arrangements - required if issued under a counter-guarantee structure
1. Form of Demand: Template for the beneficiary to use when making a demand under the guarantee
2. Copy of Underlying Contract: Relevant excerpts or summary of the main contract requiring the guarantee
3. Payment Schedule: If applicable, schedule showing any planned reductions in the guarantee amount
4. Authorized Signatories: List of persons authorized to make demands under the guarantee
5. Special Conditions: Any additional terms or conditions specific to this guarantee
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