Application for Credit Facilities
- Under normal circumstances, the Airlines / Customers are required to provide Macau International Airport Company Limited (CAM) with cash of an amount as determined by CAM to be deposited in CAM’s designated Macau bank account in order to have credit facilities for the fees or charges of the Macau International Airport payable to CAM. Nevertheless, in case of a special approval granted by CAM, a bank guarantee may substitute for the said cash deposit. The bank guarantee must be first demand, irrevocable, issued in favor of CAM by a bank with its main office or branch office in Macau, and in all the other aspects in fulfillment of the requirements of CAM.
- The bank guarantee/deposit will be applied to settle any outstanding and unpaid invoices and the relevant late-payment interest, damages, compensations and other debts as may arise after a reasonable attempt to collect the debts has been made but with no success.
- CAM is entitled to suspend the credit facilities at any time at its sole and absolute discretion, particularly (without limitation) in the case that the Airlines / Customers have overdue invoices.