PAYMENT TERMS
This payment terms constitutes an integral part of our Application serial No. /VEC-TCKT.
I. Advance Payment:
Amount: JPY 177,972,876
Required documents:
1. Beneficiary’s Signed Claim for payment approved by the Accountee in 02 originals and 02 copies.
2. Advance payment Security in favour of the Accountee for the equivalent amount in 02 photocopies.
3. Performance Security in 02 photocopies.
II. Interim Payments
Amount: JPY 931,915,514
Required documents:
1. Beneficiary’s Signed Claim for payment approved by the Accountee in 02 originals and 02 copies.
2. Engineer’s Interim Payment Certificate approved by the Accountee in 02 originals and 02 copies.
III. Special conditions:
1. Engineer is : Joint venture of Katahira & Engineers International And
Nippon Engineering Consultants Co.,LTD
Orienal Consultants Co.,LTD
Transport Engineering Design Inc
2. This credit is not transferable.
3. Our credit number must be marked on all drafts and documents (except Advance Payment Security and Performance Security).
4. Beneficiary’s Signed claim for payment must specify the number of corresponding term(s) of payment, indicating percentage, and deduction, etc, which the draft amount thereof is based on.
5. All Banking charges are for account of the Beneficiary.
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