Model bank guarantee Regeling aanvraag- en veilingprocedure vergunningen 700, 1400 en 2100 MHz
I. The undersigned.......... (name of a bank that is established and has its registered office in a Member State of the European Union or one of the other states that are a party to the Agreement on the European Economic Area)*, with its registered office in ..... and its place of business, among other places, at ....., hereinafter: ‘the Bank’;
Whereas:
A. Section 3.13, subsection 1, of the Telecommunications Act (Telecommunicatiewet) provides that the use of radio spectrum requires a licence, to be issued by the Minister of Economic Affairs and Climate Policy (hereinafter: ‘the Minister’);
B. .......... (participant's name), a legal entity under .......... (the law of a Member State of the European Union or one of the other states that are a party to the Agreement on the European Economic Area) law, with its registered office in .......... and its principal place of business at ........., hereinafter: ‘the Participant’, intends to submit a bid in the auction for the purpose of acquiring a licence as referred to in Section 3.13(1) of the Telecommunications Act;
C. the Minister has established rules for the award of licences. These rules are laid down in the Regulations on the application and auction procedure for 700, 1400 and 2100 MHz licences;
D. in accordance with these rules, the Minister requires that the Participant arrange for a bank guarantee to be provided as security for the entire amount to be put up as security by the Participant, hereinafter: "the Amount Due", for the benefit of the State of the Netherlands, a legal entity under Dutch law, whose seat is established in The Hague, hereinafter: "the State";
E. the Participant has requested the Bank to provide an irrevocable and independent bank guarantee for the benefit of the State, which is payable on first demand by the State;
II. Undertakes as follows:
1. The Bank irrevocably stands surety, by way of an independent obligation, for an amount of € 35,279,000 (in words: thirty-five million and two hundred and seventy-nine thousand euros), to the State for the payment by the Participant of the entire amount payable to the State in respect of the Amount Due as appears from a written notice by the State, such that the Bank undertakes to pay the amount due to the State as its own obligation.
2. The Bank undertakes to pay to the State, as if it were its own debt, on first demand and on the mere written notice of the State, without requiring any other document to be presented or any reasons to be given, the amount that the State declares it is due in respect of the Amount Due from the Participant, on the understanding that the Bank shall never be obliged to pay more to the State than the maximum amount referred to above.
3. Partial reliance is possible under this bank guarantee. The maximum amount of this bank guarantee will be reduced by an amount equal to each partial reliance.
4. This bank guarantee shall expire after receipt by the Bank of a written notice by the State, sent by registered letter, that the bank guarantee has expired and in any event one year after the date on which this guarantee was signed, unless the Bank has received a written notice by or on behalf of the Minister, to be sent by registered letter, at least one month prior to the expiry date of the guarantee stating that this bank guarantee will not expire, in which case the guarantee will be valid for successive new periods of one year.
5. This bank guarantee is governed by Dutch law. Any disputes relating to this bank guarantee may only be submitted to the competent Dutch court in The Hague.
6. Following the expiry of this bank guarantee, the State may no longer make any claim against the Bank under this bank guarantee, unless the Bank received a notice as referred to under 2 above prior to the scheduled expiry date of this bank guarantee with which the Bank has failed as yet to comply. At the Bank's request, the State will return this bank guarantee to the Bank upon its expiry.
Town/city: ..........
Date: ..........
Name of Bank and signature
..........
* the details shown in italics above are to be completed by the Bank.
- Regeling
- Regeling aanvraag- en veilingprocedure vergunningen 700, 1400 en 2100 MHz
- Soort
- Ministeriële regeling
- Geldend vanaf
- 07-03-2020
- BWB-id
- BWBR0043242
- Versie
- 2020-03-07_0