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MALTA
Aenzija gall-Pagamenti Agrikoli u Rurali
Joseph Pisani
f/Head (Paying Agency)
MALTA
Aenzija gall-Pagamenti Agrikoli u Rurali
Joseph Pisani
gall-Kapp (Aenzija gal-Pagaementi)
Annex 1
FOR
Reference is made to Agreement number (insert agreement number) (herein after referred to as the Agreement) entered
between you and (insert name and address of applicant) (hereinafter referred to as Our Customer), whereby Our Customer
is to receive an advance payment of EURO (insert amount of advance) in relation to Measure (insert measure number)
under the Rural Development Program 2007-2013 and whereby Our Customer is required to furnish a bank guarantee for
one hundred and ten percent (110%) refund of the said advance payment in compliance with Commission Regulation
1974/2006.
We, (insert name of institution), whose registered office is located at (insert address of institution), hereby guarantee to
pay to you on written demand up to a maximum sum of (insert amount in figures and in words) in respect of every sum
which Our Customer shall become liable to pay to you within 30 days of demand in accordance with the EC Regulation
282/2012.
Our liability under this guarantee shall not exceed the sum of (insert amount in figures and in words).
This Guarantee or any part thereof becomes payable to you on your first written demand and it shall not be incumbent upon
the bank to verify whether such demand is justified. Any payment under this guarantee reduces the Banks liability
accordingly.
This Guarantee remains in force up to (last day of validity) (the original expiry date) but will be extended by the Bank
automatically for further periods of one year each in the amount as may, from time to time, be requested by the Head
(Paying Agency) but not exceeding the applicable maximum liability of the Bank and provided that any such request is
acceded to by the Bank, at its absolute discretion unless returned to the Bank for cancellation before that date.
Our liability hereunder may be determined by notice in writing to you by registered mail whereupon this Bank guarantee will
expire six (6) days after the date of receipt of such notice to you. The Notice shall be presumed to have been received by you
(3) three days from date of dispatch to you, if it is sent by Registered Post or immediately, if it is delivered by hand against
your acknowledgement.
This guarantee shall be capable of enforcement in legal proceedings or by any other method of enforcement (in whole or in
part), in terms of the Euro, or any denomination thereof at the sole discretion of the Agriculture and Rural Payments Agency.
This document should be returned to the Bank for cancellation on utilization or expiry or in the event of the Guarantee being
no longer required.
After the expiry date and in the absence of a written demand being received by the Bank before such expiry date, this
guarantee shall be null and void, whether returned to the Bank for cancellation or not, and the Banks liability hereunder
shall terminate.
This guarantee is personal to you and is not assignable.
Yours faithfully,
Signature:
_______________
(General Manager)
Stamp of guarantor.
Countersigned