term advance payment guarantee min

A sample term for an advance payment guarantee could be:

“This Advance Payment Guarantee (APG) is issued by [Name of Guarantor] in favor of [Name of Beneficiary] on behalf of [Name of Applicant] to guarantee the payment of the advance payment made by the Beneficiary to the Applicant under [Name of Contract or Agreement]. The Guarantee amount is [Amount of Guarantee] and is valid until [Date of Expiration]. The Guarantor undertakes to pay the Beneficiary the amount of the Advance Payment made by the Beneficiary to the Applicant upon receipt of the Beneficiary’s written demand for payment, provided that the demand is made before the expiration date of this Guarantee and that the amount claimed does not exceed the Guarantee amount. This Guarantee is subject to the Uniform Rules for Demand Guarantees, ICC Publication No. 758. Any dispute arising out of or in connection with this Guarantee shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in accordance with the said Rules.”