ARTICLE 8: BONDS8.1 In exchange for the last payment under Article 6.1.3 (Terms of Payment) hereof, CONTRACTOR shall provide VKPC with a Warranty Bond substantially in the form attached hereto as Annex 4 (Form of Warranty Bond) to be issued by a first class bank acceptable to VKPC in the amount of ten percent (10%) of the contract price, that is **********. The Warranty bond shall remain in full force and effect until expiry of the warranty period, for a period of twenty four (24) months from the Take Over Date of the Plant. 8.2 Bank charges in relation to the Advance Payment Bond and the Warranty Bond shall be borne by CONTRACTOR
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