Refund Guarantees
11
Guarantees issued on behalf of the builder
Introduction
11.1
In addition to the Builder’s obligation to procure a refund guarantee (as discussed in Chapter 9), the Bimco NEWBUILDCON form provides for the builder to provide a guarantee substantially in the form and substance set out in Annex A (iv), in accordance with clause 27 (d) of the NEWBUILDCON standard newbuilding contract.