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terms of payment of the said Contract as evidenced by appropriate paymentcertificates.This Guarantee shall remain in full force from the date upon which the said advancepayment is received by the Contractor until the date upon which the Contractor hasfully repaid the amount so advanced to the Employer in accordance with the terms ofthe Contract. At the time at which the outstanding amount is NIL, this Guarantee shallbecome null and void, whether the original is returned to us or not.Any claims to be made under this Guarantee must be received by the Bank during itsperiod of validity, i.e. upto 90 (ninety) days after the date of operational acceptanceby the Employer i.e. on or before.................................................... (year, month, date).Yours truly,Name of the Bank………………………..Authorized SignatureSignature of Witness……………………...Name………………...Address...............................Note:1. The non-judicial stamp papers of appropriate value shall be purchased in thename of bank who issues the 'Bank Guarantee'.2. Advance Bank Guarantee is to be provided by the successful bidder in theformof a bank guarantee which should be issued either:(a)(b)(c)by a reputed bank located in the country of Employer and acceptableto the Employer, orby a foreign bank confirmed by either its correspondent bank locatedinthe country of Employer which should be reputed and acceptable to theEmployer, orby a Public Sector Bank in the country of Employer.All banks except Public Sector Banks of the Employer's country shall have withoverall international corporate rating or rating of long term debt not less than A- (Aminus) or equivalent by a reputed rating agency.………………………………………………………………………………………….Section IV: Sample Forms And Procedures Page 37 of 71