Contract number: ECHA/2019/355  FWC conditions of October 2018 
34 
Commission and published on the website indicated below, applicable on the day when it 
issues the payment order.  
The contractor make s any conversion bet ween the euro and another currency at the 
monthly accounting exchange rate, established by the Commission and published on the 
website indicated below, applicable on the date of the invoice. 
http://ec.europa.eu/budget/contracts_grants/info_contracts/inforeuro/inforeuro_en.cfm  
II.21.4. Costs of transfer 
The costs of the transfer are borne as follows: 
(a) the contracting authority bears the costs of dispatch charged by its bank; 
(b) the contractor bears the costs of receipt charged by its bank; 
(c) the party causing repetition of the transfer bears the costs for repeated transfer. 
II.21.5. Pre-financing, performance and money retention guarantees 
If, as provided for in Article I.6, a financial guarantee is required for the payment of pre -
financing, as performance guarantee or as retention money guarantee, it must  fulfil the 
following conditions:  
(a) the financial guarantee is provided by a bank or a financial institution approved by 
the contracting authority or, at the request of the contractor and with the 
agreement of the contracting authority, by a third party; and 
(b) the guarantee shall have the effect of making the bank or financial institution or the 
third party provide irrevocable collateral security, or stand as first-call guarantor of 
the contractor's obligations without requiring that the contracting authority has 
recourse against the principal debtor (the contractor). 
The contractor bears the cost of providing such guarantee. 
Pre-financing guarantees must remain  in force until the pre -financing is cleared against 
interim payments or payment of the balance. Where the payment of the balance takes the 
form of a debit note, the pre-financing guarantee must remain in force for three months 
after the debit note is sent to the contractor. The contracting authority must release the 
guarantee within the following month.  
Performance guarantees cover compliance with substantial contractual obligations until the 
contracting authority has given its final approval for the service. The performance 
guarantee must not exceed 10 % of the total price of the specific contract. The contracting 
authority must release the guarantee fully after final approval of the service, as provided 
for in the specific contract.  
Retention money  guarantees cover full delivery of the service in accordance with the 
specific contract including during the contract liability period and until its final approval by 
the contracting authority. The retention money guarantee must not exceed 10 % of the 
total price of the specific contract. The contracting authority must release the guarantee 
after the expiry of the contract liability period as provided for in the specific contract. 
The contracting authority must not request a retention money guarantee for a specific 
contract where it has requested a performance guarantee.