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11 Guarantees issued on behalf of the builder

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.

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