BID BOND OR CHECK Sample Clauses

BID BOND OR CHECK. Each Bidder shall submit with his proposal, either an unconditional, certified or cashier's check drawn on a solvent state or national bank which has a branch in the County of Los Angeles, California, or a Bidder's Bond, with a responsible Corporate Surety, on the form furnished by the City. Any Bidder’s Bond not on the City form must be submitted to the Purchasing Division 5 City working days prior to the bid opening to allow for City Attorney review and approval. Approval is granted/denied on a per-project basis. The Bidder’s Bond will be in the sum of the percentage of the bid stated in the Notice Inviting Bids, payable to the City of Burbank. Such check or bond shall guarantee that the Bidder will, if award is made to him in accordance with the terms of his proposal, promptly execute the Contract in the required form, and furnish satisfactory Faithful Performance Bond, Payment Bond and Insurance. If a Bidder, to whom an award is made, fails or refuses to execute the Contract, or fails to furnish the required bonds and Insurance in a form acceptable to the City, all within the time stated in paragraph 8 hereof, the moneys represented by said check or Bidder's Bond shall be forfeited and become and remain the property of the City. The Bidder and the Surety agree that said money shall be retained as liquidated damages due to the City resulting from the failure, refusal or delay in the execution of the contract and the performance of work thereunder. The check or Bid Bond furnished by a Bidder to whom the Contract is awarded will be returned to such successful Bidder after all of the acts for which said check or Bid Bond is a guarantee, have been fully performed. Checks or Bid Bonds of other bidders will be returned when their proposals are rejected, or in any event, no later than the expiration of ninety (90) calendar days from the date of opening bids. The liability of the City in connection with the said checks shall be limited to the return of the checks as herein provided.
Sample 1
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Related to BID BOND OR CHECK

  • Performance/Bid Bond and Letter Of Credit There are no bonds required for the Contract resulting from this Solicitation. In accordance with Appendix B, section 45, Performance/Bid Bond, the Commissioner of OGS has determined that no performance, payment or Bid bond, or negotiable irrevocable letter of credit or other form of security for the faithful performance of the Contract shall be required at any time during the initial term, or any renewal term, for the resulting Contract and Authorized User Agreements.

  • PERFORMANCE / BID BOND The Commissioner reserves the right to require a Bidder or Contractor to furnish, without additional cost, a performance, payment or Bid bond, negotiable irrevocable letter of credit, or other form of security for the faithful performance of the Contract. Where required, such bond or other security shall be in the form prescribed by the Commissioner.

  • Credit Check You are authorized, in your discretion, should you for any reason deem it necessary for your protection to request and obtain a consumer credit report for the Customer.

  • Credit Checks 9.1 The Customer agrees that:

  • Letters of Credit for Payment Bond Notwithstanding the provisions of B4.3, Purchaser may use letters of credit in lieu of a surety bond for payment bond purposes when approved by Contracting Officer.

  • PERFORMANCE AND BID BONDS There are no bonds for this Contract. In accordance with Xxxxxxxx X, §00 Performance/Bid Bond, the Commissioner of OGS has determined that no performance, payment or Bid bond, or negotiable irrevocable letter of credit or other form of security for the faithful performance of the Contract shall be required at any time during the term of the Contract.

  • Other Check Deposits The first $225.00 of funds from other check deposits will be available on the 1st business day after the day of Your deposit. The remaining funds will be available on the 2nd business day after the day of Your deposit. For example, if You deposit a check of $700.00 on a Monday, $225.00 of the deposit is available on Tuesday. The remaining $475.00 is available on Wednesday. Longer Delays May Apply. Funds You deposit by check may be delayed for a longer period under the following circumstances: • We believe a check You deposit will not be paid. • You deposit checks totaling more than $5,525.00 on any one day. • You redeposit a check that has been returned unpaid. • You have overdrawn Your account repeatedly in the last six months. • There is an emergency, such as failure of computer or communication equipment. We will notify You if We delay Your ability to withdraw funds for any of these reasons, and We will tell You when the funds will be available. They will generally be available no later than the 7th business day following the day of Your deposit. In any case, We reserve the right to refuse an item for deposit or encashment.

  • Interest on security deposits Where you have paid a security deposit, we must pay you interest on the security deposit at a rate and on terms required by the Rules.

  • Disbursement 7.1.1 Subject to the availability of sufficient moneys in and from the Funding Source based on Agency’s reasonable projections of moneys accruing to the Funding Source, Agency will disburse Grant Funds to Grantee for the allowable Project activities described in Exhibit A that are undertaken during the Performance Period.

  • Direct Deposit If you have arranged to have a direct deposit made to your account at least once every 60 days from the same source and you do not receive a receipt (such as a pay stub), you can find out whether or not the deposit has been made by calling (000) 000-0000. This does not apply to transactions occurring outside the United States.

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