Bid Security definition

Bid Security. (BS) means Earnest Money Deposit / monetary or financial guarantee to be furnished by a bidder along with its tender.

Bid Security means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;

Bid Security means the bank guarantee or other form of security submitted by a bidder together with a bid to secure the obligations of the bidder participating in a bidding proceedings

Examples of Bid Security in a sentence

• The Bid Security from the contractor in the form of cash, certified check or treasurer’s or cashier’s check drawn upon a responsible bank in the Commonwealth of Massachusetts or a bid bond in the amount of five percent (5%) of the bid shall be made payable to the City of Greenfield, Massachusetts and shall be enclosed with the bid.

• This right is in addition to and does not affect the City’s right to demand forfeiture of Contractor’s Bid Security if Contractor persistently delays in providing the required documentation.

• Commissions or gratuities, if any, paid or to be paid by us to agents relating to this Bid, and to contract execution if we are awarded the contract, are listed below : Name and address of agent Xxxxxx Xxxxxxx of Commission or gratuity (if none, state “none”) We hereby confirm that this Bid complies with the Eligibility, Bid Validity and Bid Security required by the Bidding documents.

• Until such time the Performance Security is provided by the Contractor pursuant hereto and the same comes into effect, the Bid Security shall remain in force and effect, and upon such provision of the Performance Security, the Authority shall release the Bid Security to the Contractor.

• This bid shall remain valid and cannot be withdrawn for thirty (30) days from the date of opening of bids (60 days for School Districts and Department of Education), and the undersigned shall abide by the Bid Security forfeiture provisions.

More Definitions of Bid Security

Bid Security means the refundable amount to be submitted by the Bidder along with Tender Documents to DMRC as a security against the earnestness of bid.

Bid Security. (i.e. Earnest Money Deposit) means monetary guarantee to be furnished by a Bidder along with its Bid.

Bid Security means the bank guarantee or CDR submitted by a Bidder together with a bid to secure the obligations of the Bidder participating in a bidding proceedings

Bid Security means the bid security provided by the Contractor to the Bilaspur Smart City Limited in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;

Bid Security means the unconditional and irrevocable bank guarantee to be submitted along with the Bid at the RFP stage. The details will be provided to the qualified bidders at the RFP stage.

Bid Security means bid security as referred to in Clause 15.

Bid Security means the bid security to be given by the Bidders, as detailed in Clause 14 of the ITB.