Standard bidding document

[specify how and when the installments will be paid]

GCC 63.4

Deductions from Payment Certificates will commence in the Cumulative value of works executed exceeds 30% of the Initial Contract Price. Deduction will be at the rate of [Insert percentage] of the respective Interim Payment Certificate until such time as the advance payment has been repaid; provided that the advance payment shall be completely repaid prior to the end of 80 % of the approved contract period.

GCC 64.1

The Performance Security amount is: ………….. [Insert required amount]