Joke Collection Website - Mood Talk - What is the project payment guarantee? Who can talk about it?
What is the project payment guarantee? Who can talk about it?
One? Owner's project payment guarantee refers to the guarantee provided by the guarantor for the owner to the contractor to ensure the owner to fulfill the project payment obligations stipulated in the contract. The owner's payment guarantee and the contractor's payment guarantee are guaranteed by a third party. The guarantor shall be jointly and severally liable for the letter of guarantee or guarantee issued by him. ? Two? The amount of project payment guarantee paid by the owner shall be equal to the amount of performance guarantee submitted by the contractor or supplier. ? Three? The guarantee method of the owner's project payment is banks and professional guarantee institutions, and the guarantee amount is not less than 10% of the contract price and not less than the maximum installment amount agreed in the contract. ? Four? The validity period of the payment guarantee of the owner's project funds is stipulated in the contract, and the deadline of validity stipulated in the contract is 30 days to 180 days from the date when the owner completes the payment of all the project settlement funds (except the project quality warranty fund) as agreed in the contract. ? Five? Owner's project payment guarantee shall be rolled by stages as agreed in the contract. When the payment of one stage is completed, it will be automatically transferred to the payment guarantee of the next stage until the project settlement payment is paid in full. ? Six? When the owner can't pay the project payment according to the contract, both parties can agree on a deferred payment agreement. If negotiation fails or the owner still fails to pay the project payment after the expiration of the deferred payment agreement, the contractor may require the bank that issued the letter of guarantee to assume the guarantee responsibility. ? Seven? After the guarantee amount for project payment is completely withdrawn due to the owner's non-performance of the contract, the owner shall resubmit the guarantee letter for project payment with the same amount to the contractor within 15 days. Otherwise, the contractor has the right to stop construction and claim compensation for losses.
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