ADVANCED PAYMENT GUARANTEE1
[Guarantor letterhead or SWIFT identifier code]
Beneficiary: Transport Community through Transport Community Permanent Secretariat
Address: Beogradjanka building, Masarikova 5/8, 11000 Belgrade, Serbia
Date: [Insert date of issue]
ADVANCE PAYMENT GUARANTEE No.: [Insert guarantee reference number]
Guarantor: [Insert name and address of place of issue, unless indicated in the letterhead]
We have been informed that [name of contractor] (the “Applicant”) has entered into Contract No.
[reference number of the contract][insert name of the contract] dated [insert date] with Permanent
Secretariat of the Transport Community (the “Beneficiary”) for the provision of [insert description of
the contract] (the “Contract”) of which total value is [insert the contract price].
In accordance with the Contract, the Beneficiary shall pay to the Applicant, at its request, an advance
payment in the sum of [insert the amount in figure and words] against an advance payment
guarantee. The Applicant has requested that we issue such guarantee.
Further to the foregoing, we [name of Bank/Guarantor] [identification data of the Bank] hereby
unconditionally and irrevocably undertake, independent of the validity and legal effects of the
Contract and without invoking exceptions and objections resulting from the Contract or exceptions
based on the relationship between the Applicant and the Bank, to immediately pay to you, the
Beneficiary, or your accredited representative, any sum or sums not exceeding in total an aggregate
amount of [amount in words] ([amount in figures]) (the “Guarantee”) upon receipt by us of your first
demand in writing, accompanied by a written statement, stating that the Applicant is in breach of its
contractual obligations related to the use and justification of the received advance, as they are
provided in the Contract. Such statement shall be conclusive evidence of your entitlement to
payment in the amount demanded, up to the amount of this Guarantee.
The amount related to the advance is periodically reduced, corresponding to the balance of the
adjustments made in accordance with the provisions of the contract.
We further agree that no change or addition to or other modification of the terms of the Contract or
of any of the Contract documents which may be made between the Beneficiary and the Applicant
shall in any way release us from any liability under this Guarantee, and we hereby waive notice of
any such change, addition, or modification.
1
This model contains the minimum conditions. Other models may be used and/or the Bank may introduce
other conditions as long as there are not provisions contradictory to these minimum conditions
The original of the Guarantee shall be submitted to the Beneficiary – TCT Secretariat together with all the
documents signed between the Bank and Contractor.
This Guarantee shall remain valid and in full effect from the date of the advance payment under the
Contract until the Beneficiary receives from the Applicant of the full repayment of the advance
payment.
This Guarantee is governed by the Uniform Rules for Demand Guarantees, ICC Publication No. 758.
The supporting statement under Article 15(a) thereof is excluded. The applicable law is [insert the
applicable law].
Bank
Authorised signatures
Date
