Contract number: EEAS-618-DELBRBB-SER-FWC-2019   Template of June 2018 Updated November 2018  II.21. PAYMENTS AND GUARANTEES  II.21.1. Date of payment  II.21.2. Currency  II.21.3. Conversion  II.21.4. Costs of transfer  II.21.5. Pre-financing, performance and money retention guarantees  Payments are deemed to be effected on the date when they are debited to the contracting  authority’s account.  Payments are made in euros or in the currency provided for in Article I.7. The contracting authority makes any conversion between the euro and another currency at the  daily euro exchange rate published in the Official Journal of the European Union, or failing  that, at the monthly accounting exchange rate, as established by the European Commission  and published on the website indicated below, applicable on the day when it issues the  payment order. The contractor makes any conversion between 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 The costs of the transfer are borne as follows:  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: 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  33  (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;  (b) the guarantor stands as first-call guarantor and does not require the contracting  authority to have recourse against the principal debtor (the contractor).  (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. 