Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB. a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government. b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid. c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited. d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid. e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity. f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request. g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy. h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security. i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar a. when the bidder withdraws or modifies its bid after opening of bids; b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period; c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified; d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document. j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited. k) No interest shall be payable on the bid security. l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security. m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:- a. the expiry of validity of bid security; b. the execution of agreement for procurement and performance security is furnished by the successful bidder; c. the cancellation of the procurement process; or d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 4 contracts
Samples: Rate Contract for Selection of Logistic Partner, Rate Contract, Rate Contract for Selection of Logistic Partner
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. c. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
n) The bid security of the qualified bidders shall be converted into Performance Security Deposit for the project period.
Appears in 3 contracts
Samples: Rate Contract for Supply of Digital Signature Certificates and Server SSL Certificates, Rate Contract for Supply of Digital Signature Certificates and Server SSL Certificates, Rate Contract for Supply of Digital Signature Certificates and Server SSL Certificates
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 2 contracts
Samples: Rate Contract for Supply of Usb Cryptographic Tokens, Rate Contract for Supply of Usb Cryptographic Tokens
Bid Security. Every Each Bid must be accompanied by Bid Security in the form of cash, certified check of the bidder, if not exemptedor a Bid Bond prepared on the Bid Bond Form attached hereto, participating duly executed by the Bidder as principal and having as surety thereon a surety company approved by the Owner (those named on the current list of “Surety Companies Acceptable on Federal Bonds” as published by the Audit Staff Bureau of Accounts, U.S. Treasury Department will be acceptable to the Owner unless the Bidder receives written notification to the contrary from the Owner at least 5 days prior to the date for the opening of Bids.) Attorneys-in-Fact who sign Bid Bonds must file with each bond a certified and effectively dated copy of their power of attorney. The Bid Security shall be in the procurement process amount of 5% of the Bid. The Bid Security of the accepted Bidder will be retained until he has executed the Agreement and has furnished the required Contract Security. If the accepted Bidder fails to execute and deliver the agreement and furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments required Contract Security within 10 days of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings issuance of the Central Government.
b) Notice of Award, Owner may annul the Notice of Award and the Bid security instrument Security of that Bidder will be forfeited. The Bid Security of any Bidder whom Owner believes to have a reasonable chance of receiving the award may be retained by Owner until the earliest of the fifth day after the executed Agreement is delivered by Owner to Contractor and the required Contract Security is furnished or cash receipt the expiration of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) time specified for the Bids to Remain Open. After such date, any Bid security Security will be returned upon demand of a bidder lying with the procuring entity in respect Bidder. Bid Security of other bids awaiting decision shall not Bidders will be adjusted towards bid security for returned within 5 days of the fresh bidsBid opening. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given Bid Security in the form of a banker’s cheque Bid Bond will not normally be returned to Bidder unless specifically requested by Bidder. Cash or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must certified check will be acceptable returned according to the procuring entityabove-stated procedures.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 2 contracts
Samples: Proposal Contract, Proposal Contract
Bid Security. Every bidder19.1 The Bidder shall furnish as part of its Technical Bid, if not exempted, participating a Bid Security in the procurement process will be required to furnish the bid security as amount and currency specified in the NIBBDS.
19.2 The Bid Security shall be a demand guarantee in any of the following forms at the Bidder’s option:
(a) In lieu of bid securityan unconditional guarantee issued by a bank or financial institution (such as an insurance, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned bonding or controlled or managed by the State Government and Government Undertakings of the Central Government.surety company);
(b) Bid security instrument or cash receipt an irrevocable letter of bid security or a bid securing declaration shall necessarily accompany the technical bid.credit;
(c) Bid a cashier’s or certified check; or
(d) another security specified in the BDS, from a reputable source from an eligible source country. If the unconditional guarantee is issued by a financial institution located outside the Employer’s Country, the issuing financial institution shall have a correspondent financial institution located in the Employer’s Country to make it enforceable. In the case of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, the Bid Security shall be submitted either using the Bid Security Form included in specified formatSection IV, Bidding Forms, or in another substantially similar format approved by the Employer prior to Bid submission. In either case, the form must include the complete name of a scheduled bank or deposited through eGRASthe Bidder. The bid security must remain Bid Security shall be valid thirty for twenty-eight (28) days beyond the original or extended validity period of the bidBid, or beyond any period of extension if requested under ITB 18.2.
e) The issuer of 19.3 Any Bid not accompanied by a substantially responsive Bid Security shall be rejected by the bid security and the confirmer, if any, of the bid security, Employer as well as the form and terms of the bid security, must be acceptable to the procuring entitynon- responsive.
f) Prior 19.4 The Bid Security of unsuccessful Bidders shall be returned as promptly as possible upon the successful Bidder’s signing the Contract and furnishing the Performance Security pursuant to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a requestITB 42.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) 19.5 The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case Security of the successful bidder, Bidder shall be returned as promptly as possible once the amount of bid security successful Bidder has signed the Contract and furnished the required Performance Security.
19.6 The Bid Security may be adjusted in arriving at forfeited:
(a) if a Bidder withdraws its Bid during the amount period of Bid validity specified by the Performance SecurityBidder on the Letters of Technical Bid and Price Bid, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished any extension thereto provided by the successful bidder;
c. the cancellation of the procurement processBidder; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement
Bid Security. Every bidder, if not exempted, participating B13.1 The Bidder shall provide bid security in the procurement process will be required form of:
(a) a bid bond, in the amount of at least ten percent (10%) of the Total Bid Price, and agreement to furnish bond of a company registered to conduct the business of a surety in Manitoba, in the form included in the Bid Submission (Form G1: Bid Bond and Agreement to Bond); or
(b) an irrevocable standby letter of credit, in the amount of at least ten percent (10%) of the Total Bid Price, and undertaking issued by a bank or other financial institution registered to conduct business in Manitoba and drawn on a branch located in Winnipeg, in the form included in the Bid Submission (Form G2: Irrevocable Standby Letter of Credit and Undertaking); or
(c) a certified cheque or draft payable to “The City of Winnipeg”, in the amount of at least fifty percent (50%) of the Total Bid Price, drawn on a bank or other financial institution registered to conduct business in Manitoba. If the Bidder submits alternative bids, the bid security as specified shall be in the NIBamount of the specified percentage of the highest Total Bid Price submitted. All signatures on bid securities shall be original. The Bidder shall sign the Bid Bond. The Surety shall sign and affix its corporate seal on the Bid Bond and the Agreement to Bond.
a) In lieu of B13.2 The bid security, a bid securing declaration shall be taken from Departments security of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies successful Bidder and Cooperative Societies which are owned or controlled or managed the next two lowest evaluated responsive and responsible Bidders will be released by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or City when a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security Contract for the fresh bidsWork has been duly executed by the successful Bidder and the performance security furnished as provided herein. The bid security originally deposited may, however, securities of all other Bidders will be taken into consideration in case bids are re-invited.
d) The released when a Contract is awarded. Where the bid security may be given provided by the successful Bidder is in the form of a banker’s certified cheque or demand draft or bank guaranteepursuant to B13.1(c), in specified format, of a scheduled bank or it will be deposited through eGRASand retained by the City as the performance security and no further submission is required. The bid security must remain valid thirty days beyond the original City will not pay any interest on certified cheques or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, drafts furnished as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented subsequently retained as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) B13.3 The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection bid securities of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice all Bidders will be given released by the City as soon as practicable following notification by the Contract Administrator to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall Bidders that no award of Contract will be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior made pursuant to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permittedBid Opportunity.
Appears in 2 contracts
Samples: Bid Opportunity, Bid Opportunity
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid Rate Contract for Supply of Digital Signature Certificates (with USB Tokens) and Server SSL Certificates security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. c. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted. Rate Contract for Supply of Digital Signature Certificates (with USB Tokens) and Server SSL Certificates
n) The bid security of the qualified bidders shall be converted into Performance Security Deposit for the project period.
Appears in 1 contract
Samples: Rate Contract for Supply of Digital Signature Certificates and Server SSL Certificates
Bid Security. Every bidder(a) Subject to exemptions provided under para 5(1) (a) of Part-1 (ITT) of this document, the tender must be accompanied by a Bid Security as mentioned in tender documents, failing which the tender shall be summarily rejected.
(b) The Tenderer(s) shall keep the offer open for a minimum period of 60 days (in case of two packet system of tendering 90days) from the date of closing of the Tender. It is understood that the tender documents have been issued to the Tenderer(s) and the Tenderer(s), is / are permitted to tender in consideration of the stipulation on his / their part that after submitting his / their tender subject to the period being extended further, if required by mutual agreement from time to time, he will not exemptedresile from his offer or modify the terms and conditions thereof in a manner not acceptable to ___________ Railway. Should the tenderer fail to observe or comply with the foregoing stipulation, participating the amount deposited or Bank guarantee bond submitted as Bid Security for the due performance of the above stipulation, shall be forfeited to the Railway.
(c) If his tender is accepted, the Bid Security mentioned in the procurement process sub para(a) above deposited in cash through e-payment gateway will be required to furnish retained as part security for the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments due and faithful fulfillment of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings contract in terms of Clause 16 of the Central Government.
bStandard General Conditions of Contract; the Bid Security mentioned in sub para(a) above submitted as Bank guarantee bond, will be encashed as part security for the due and faithful fulfillment of the contract in terms of Clause 16 of the Standard General Conditions of Contract. The Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect Security of other bids awaiting decision Tenderers shall, save as herein before provided, be returned to them, but the Railway shall not be adjusted towards bid security responsible for any loss or depreciation to the fresh bids. The bid security originally deposited mayBid Security that may happen thereto while in their possession, however, nor be taken into consideration in case bids are re-invitedliable to pay interest thereon.
(d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of Contractor submits the successful bidderTerm Deposit Receipt/Bank Guarantee Bond towards either the Full Security Depositor the Part Security Deposit equal to or more than Bid Security, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity Railway shall promptly return the bid security after the earliest of the following eventsBid Security so retained as per sub para(c) above, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permittedContractor.
Appears in 1 contract
Samples: Instructions to Tenderers (Itt)
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The Rate contract for Printing and Delivery of PVC Cards and other documents (After Pre-Bid) bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a Bank Guarantee/ banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bidbank.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed anyproposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement (annexure 8 and 9) and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if If the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the The withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.. Rate contract for Printing and Delivery of PVC Cards and other documents (After Pre-Bid)
Appears in 1 contract
Samples: Rate Contract
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a Bank Guarantee/ banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bidbank.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.. Rate contract for Printing and Delivery of PVC Cards and other documents (Before Pre-Bid)
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement (annexure 8 and 9) and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if If the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the The withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 1 contract
Samples: Rate Contract
Bid Security. Every bidder19.1 The Bidder shall furnish as part of its bid, if not exemptedeither a Bid-
19.2 A Bid-Securing Declaration shall use the form included in Section IV, participating in the procurement process will be required Bidding Forms.
19.3 If a bid security is specified pursuant to furnish ITB 19.1, the bid security shall be a demand guarantee in any of the following forms at the Bidder’s option:
(a) an unconditional guarantee issued by a bank or financial institution (such as an insurance, bonding or surety company);
(b) an irrevocable letter of credit;
(c) a cashier’s or certified check; or
(d) another security specified in the NIB.
a) BDS, from a reputable source from an eligible country. If the unconditional guarantee is issued by a financial institution located outside the Employer’s Country, the issuing financial institution shall have a correspondent financial institution located in the Employer’s Country to make it enforceable. In lieu the case of a bank guarantee, the bid security, a bid securing declaration security shall be taken from Departments of submitted either using the State GovernmentBid Security Form included in Section IV, UndertakingsBidding Forms, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed in another substantially similar format approved by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of Employer prior to bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bidssubmission. The bid security originally deposited mayshall be valid for twenty-eight (28) days beyond the original validity period of the bid, however, be taken into consideration in case bids are re-invitedor beyond any period of extension if requested under ITB 18.2.
d) 19.4 If a bid security is specified pursuant to ITB 19.1, any bid not accompanied by a substantially responsive bid security or Bid-Securing Declaration shall be rejected by the Employer as non responsive.
19.5 If a bid security is specified pursuant to ITB 19.1, the bid security of unsuccessful Bidders shall be returned as promptly as possible upon the successful Bidder’ssigning the Contract and furnishing the performance security pursuant to ITB 42.
19.6 The bid security of the successful Bidder shall be returned as promptly as possible once the successful Bidder has signed the Contract and furnished the required performance security.
19.7 The bid security may be given forfeited or the Bid-Securing Declaration executed:
(a) if a Bidder withdraws its bid during the period of bid validity specified by the Bidder on the Letter of Bid, or any extension thereto provided by the Bidder; or
(b) if the successful Bidder fails to:
(i) sign the Contract in the form of accordance with ITB 41; or
(ii) furnish a banker’s cheque or demand draft or bank guarantee, performance security in specified format, of a scheduled bank or deposited through eGRAS. accordance with ITB 42.
19.8 The bid security must remain valid thirty days beyond or the original or extended validity period Bid-Securing Declaration of a JV shall be in the name of the JV that submits the bid.
e) The issuer . If the JV has not been legally constituted into a legally enforceable JV at the time of bidding, the bid security or the Bid-Securing Declaration shall be in the names of all future members as named in the letter of intent referred to in ITB 4.1 and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entityITB 11.2.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of 19.9 If a bid security or is not required in the BDS pursuant to ITB 19.1, and
(a) if a Bidder withdraws its bid during the period of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from validity specified by the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security Bidder on the ground that the issuer or the confirmerLetter of Bid, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.or
h(b) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes Bidder fails to sign the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement processContract in accordance with ITB 41; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.or furnish a
Appears in 1 contract
Samples: Construction Contract
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guaranteeguarantee (bank guarantee is allowed only where bid security amount is INR 10 Lakhs or above), in specified format, of a scheduled bank or deposited through eGRASbank. The bid security must remain valid thirty 30 days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee guarantee, if any, presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 1 contract
Samples: Rate Contract for Supply & Installation of Software
Bid Security. Every The bid security shall be applicable as per Government of Rajasthan Rules & regulations (Please refer annexure-15).Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.. RFP for Rate Contract for Supply & Installation of Antivirus Software/ Endpoint Protection and SSL Certificates for various websites/ applications (after PreBid)
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRASbank. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.. RFP for Rate Contract for Supply & Installation of Antivirus Software/ Endpoint Protection and SSL Certificates for various websites/ applications (after PreBid)
Appears in 1 contract
Samples: Rate Contract for Supply & Installation of Antivirus Software and SSL Certificates
Bid Security. Every bidder, if not exempted, participating 18.1. The Procuring Entity shall prescribe in the procurement process will be required to furnish BDS the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt acceptable forms of bid security that bidders may opt to use, which shall include the Bid Securing Declaration or at least one (1) other form, the amount of which shall be equal to a bid securing declaration percentage of the ABC in accordance with the following schedule: Form of Bid Security Amount of Bid Security (Equal to Percentage of the ABC)
(a) Cash or cashier’s/manager’s check issued by a Universal or Commercial Bank. Two percent (2%)
(b) Bank draft/guarantee or irrevocable letter of credit issued by a Universal or Commercial Bank: Provided, however, that it shall necessarily accompany the technical bidbe confirmed or authenticated by a Universal or Commercial Bank, if issued by a foreign bank.
(c) Surety bond callable upon demand issued by a surety or insurance company duly certified by the Insurance Commission as authorized to issue such security. Five percent (5%)
(d) Any combination of items (a) to (c) above. Proportionate to share of form with respect to total amount of security
(e) Bid security Securing Declaration No percentage required. For biddings conducted by LGUs, the Bidder may also submit bid securities in the form of a cashier’s/manager’s check, bank draft/guarantee, or irrevocable letter of credit from other banks certified by the BSP as authorized to issue such financial statement. The Bid Securing Declaration mentioned above is an undertaking which states, among others, that the bidder lying shall enter into contract with the procuring entity and furnish the performance security required under ITB Clause 33.2, from receipt of the Notice of Award, and committing to pay the corresponding fine, and be suspended for a period of time from being qualified to participate in respect any government procurement activity in the event it violates any of other bids awaiting decision shall not be adjusted towards bid security for the fresh bidsconditions stated therein as provided in the guidelines issued by the GPPB.
18.2. The bid security originally deposited may, however, should be taken into consideration valid for the period specified in case bids are rethe BDS. Any bid not accompanied by an acceptable bid security shall be rejected by the Procuring Entity as non-invitedresponsive.
d) 18.3. No bid securities shall be returned to bidders after the opening of bids and before contract signing, except to those that failed or declared as post-disqualified, upon submission of a written waiver of their right to file a motion for reconsideration and/or protest. Without prejudice on its forfeiture, bid securities shall be returned only after the bidder with the Lowest Calculated and Responsive Bid has signed the contract and furnished the performance security, but in no case later than the expiration of the bid security validity period indicated in ITB Clause 18.2.
18.4. Upon signing and execution of the contract pursuant to ITB Clause 32, and the posting of the performance security pursuant to ITB Clause 33, the successful Bidder’s bid security will be discharged, but in no case later than the bid security validity period as indicated in the ITB Clause 18.2.
18.5. The bid security may be given forfeited:
(a) if a Bidder:
(i) withdraws its bid during the period of bid validity specified in ITB Clause 17;
(ii) does not accept the correction of errors pursuant to ITB Clause 28.3(b);
(iii) fails to submit the requirements within the prescribed period or a finding against their veracity as stated in ITB Clause 29.2;
(iv) submission of eligibility requirements containing false information or falsified documents;
(v) submission of bids that contain false information or falsified documents, or the concealment of such information in the form bids in order to influence the outcome of eligibility screening or any other stage of the public bidding;
(vi) allowing the use of one’s name, or using the name of another for purposes of public bidding;
(vii) withdrawal of a banker’s cheque bid, or demand draft refusal to accept an award, or bank guaranteeenter into contract with the Government without justifiable cause, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond after the original or extended validity period of Bidder had been adjudged as having submitted the bid.
e) The issuer of the bid security Lowest Calculated and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bidsResponsive Bid;
b. when (viii) refusal or failure to post the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the required performance security within specified the prescribed time;
(ix) refusal to clarify or validate in writing its bid during post- qualification within a period of seven (7) calendar days from receipt of the request for clarification;
(x) any documented attempt by a bidder to unduly influence the outcome of the bidding in his favor;
(xi) failure of the potential joint venture partners to enter into the joint venture after the supply/ work order bid is placeddeclared successful; andor
e. if (xii) all other acts that tend to defeat the bidder breaches any provision purpose of code of integritythe competitive bidding, prescribed such as habitually withdrawing from bidding, submitting late Bids or patently insufficient bid, for biddersat least three (3) times within a year, specified in the bidding documentexcept for valid reasons.
j(b) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes Bidder:
(i) fails to sign the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement processcontract in accordance with ITB Clause 32; or
d. the withdrawal of bid prior (ii) fails to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permittedfurnish performance security in accordance with ITB Clause 33.
Appears in 1 contract
Samples: Maintenance Agreement
Bid Security. Every bidder, if not exempted, participating in the procurement process will (a) The tenderer shall be required to furnish submit the bid security Bid Security with the tender for the due performance with the stipulation to keep the offer open till such date as specified in the NIBtender, under the conditions of tender. The Bid Security shall be as under: Value of the Work Bid Security For works estimated to cost up to ₹ 1 crore 2% of the estimated cost of the work For works estimated to cost more than ₹ 1 crore ₹ 2 lakh plus ½% (half percent) of the excess of the estimated cost of work beyond ₹ 1 crore subject to a maximum of ₹ 1 crore Note:
(i) The Bid Security shall be rounded off to the nearest ₹100. This Bid Security shall be applicable for all modes of tendering.
(ii) Any firm recognized by Department of Industrial Policy and Promotion (DIPP) as ‘Startups’ shall be exempted from payment of Bid Security detailed above.
(iii) Labour Cooperative Societies shall submit only 50% of above Bid Security detailed above.
(b) It shall be understood that the tender documents have been issued to the tenderer and the tenderer is permitted to tender in consideration of stipulation on his part, that after submitting his tender he will not resile from his offer or modify the terms and conditions thereof in a manner not acceptable to the Engineer. Should the tenderer fail to observe or comply with the said stipulation, the aforesaid amount shall be liable to be forfeited to the Railway.
(c) If his tender is accepted, this Bid Security mentioned in sub para (a) In lieu of bid security, a bid securing declaration shall above will be taken from Departments retained as part security for the due and faithful fulfillment of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings contract in terms of Clause 16 of the Central Government.
b) Standard General Conditions of Contract. The Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect Security of other bids awaiting decision Tenderers shall, save as herein before provided, be returned to them, but the Railway shall not be adjusted towards bid security responsible for the fresh bidsany loss or depreciation that may happen thereto while in their possession, nor be liable to pay interest thereon.
(2) The Bid Security shall be deposited either in cash through e-payment gateway or submitted as Bank Guarantee bond from a scheduled commercial bank of India or as mentioned in tender documents. The Bank Guarantee bond shall be as per Annexure- VIA and shall be valid for a period of 90days beyond the bid security originally deposited may, however, be taken into consideration in case bids are re-invitedvalidity period.
d(3) The bid security may be given In case, submission of Bid Security in the form of a banker’s cheque or demand draft or bank guaranteeBank Guarantee, in specified format, following shall be ensured:
i. A scanned copy of a scheduled bank or deposited through eGRASthe Bank Guarantee shall be uploaded on e-Procurement Portal (IREPS) while applying to the tender.
ii. The original Bank Guarantee should be delivered in person to the official nominated as indicated in the tender document within 5 working days of deadline of submission of bids.
iii. Non submission of scanned copy of Bank Guarantee with the bid security must on e-tendering portal (IREPS) and/or non submission of original Bank Guarantee within the specified period shall lead to summary rejection of bid.
iv. The Tender Security shall remain valid thirty for a period of 90 days beyond the original or extended validity period for the Tender.
v. The details of the bidBG, physically submitted should match with the details available in the scanned copy and the data entered during bid submission time, failing which the bid will be rejected
vi. The Bank Guarantee shall be placed in an envelope, which shall be sealed. The envelope shall clearly bear the identification “Bid for the ***** Project” and shall clearly indicate the name and address of the Bidder. In addition, the Bid Due Date should be indicated on the right hand top corner of the envelope.
e) vii. The issuer envelope shall be addressed to the officer and address as mentioned in the tender document.
viii. If the envelope is not sealed and marked as instructed above, the Authority assumes no responsibility for the misplacement or premature opening of the bid security contents of the Bid submitted and the confirmerconsequent losses, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished suffered by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permittedBidder.
Appears in 1 contract
Samples: Tender Instructions
Bid Security. Every bidder18.1. The Bidder shall submit a Bid Securing Declaration or any form of Bid Security in the amount stated in the BDS, which shall be not less than the percentage of the ABC in accordance with the following schedule: Form of Bid Security Amount of Bid Security (not less than the percentage of the ABC)
(a) Cash or cashier’s/manager’s check issued by a Universal or Commercial Bank. For biddings conducted by LGUs, the Cashier’s/Manager’s Check may be issued by other banks certified by the BSP as authorized Two percent (2%)
(b) Bank draft/guarantee or irrevocable letter of credit issued by a Universal or Commercial Bank: Provided, however, that it shall be confirmed or authenticated by a Universal or Commercial Bank, if not exemptedissued by a foreign bank. For biddings conducted by LGUs, participating in Bank Draft/Guarantee, or Irrevocable Letter of Credit may be issued by other banks certified by the procurement process will be required BSP as authorized to furnish the bid security as specified in the NIBissue such financial instrument.
a(c) In lieu of bid security, Surety bond callable upon demand issued by a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned surety or controlled or managed insurance company duly certified by the State Government and Government Undertakings of Insurance Commission as authorized to issue such security. Five percent (5%) The Bid Securing Declaration mentioned above is an undertaking which states, among others, that the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration Bidder shall necessarily accompany the technical bid.
c) Bid security of a bidder lying enter into contract with the procuring entity and furnish the performance security required under ITB Clause 33.2, within ten (10) calendar days from receipt of the Notice of Award, and commits to pay the corresponding amount as fine, and be suspended for a period of time from being qualified to participate in respect any government procurement activity in the event it violates any of other bids awaiting decision shall not be adjusted towards bid security for the fresh bidsconditions stated therein as provided in the guidelines issued by the GPPB.
18.2. The bid security originally deposited may, however, should be taken into consideration valid for the period specified in case bids are rethe BDS. Any bid not accompanied by an acceptable bid security shall be rejected by the Procuring Entity as non-invitedresponsive.
d18.3. No bid securities shall be returned to Bidders after the opening of bids and before contract signing, except to those that failed or declared as post- disqualified, upon submission of a written waiver of their right to file a request for reconsideration and/or protest, or upon the lapse of the reglementary period to file a request for reconsideration or protest. Without prejudice on its forfeiture, bid securities shall be returned only after the Bidder with the Lowest Calculated Responsive Bid (LCRB) has signed the contract and furnished the performance security, but in no case later than the expiration of the bid security validity period indicated in ITB Clause 18.2.
18.4. Upon signing and execution of the contract pursuant to ITB Clause 32, and the posting of the performance security pursuant to ITB Clause 33, the successful Bidder’s bid security will be discharged, but in no case later than the bid security validity period as indicated in the ITB Clause 18.2.
18.5. The bid security may be given forfeited:
(a) if a Bidder:
(i) withdraws its bid during the period of bid validity specified in ITB Clause 17;
(ii) does not accept the correction of errors pursuant to ITB Clause 28.3(b);
(iii) has a finding against the veracity of any of the documents submitted as stated in ITB Clause 29.2;
(iv) submission of eligibility requirements containing false information or falsified documents;
(v) submission of bids that contain false information or falsified documents, or the concealment of such information in the form bids in order to influence the outcome of eligibility screening or any other stage of the public bidding;
(vi) allowing the use of one’s name, or using the name of another for purposes of public bidding;
(vii) withdrawal of a banker’s cheque bid, or demand draft refusal to accept an award, or bank guaranteeenter into contract with the Government without justifiable cause, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond after the original or extended validity period of Bidder had been adjudged as having submitted the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bidsLCRB;
b. when (viii) refusal or failure to post the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the required performance security within specified the prescribed time;
(ix) refusal to clarify or validate in writing its bid during post- qualification within a period of seven (7) calendar days from receipt of the request for clarification;
(x) any documented attempt by a Bidder to unduly influence the outcome of the bidding in his favor;
(xi) failure of the potential joint venture partners to enter into the joint venture after the supply/ work order bid is placeddeclared successful; andor
e. if (xii) all other acts that tend to defeat the bidder breaches any provision purpose of code of integritythe competitive bidding, prescribed such as habitually withdrawing from bidding, submitting late Bids or patently insufficient bid, for biddersat least three (3) times within a year, specified in the bidding documentexcept for valid reasons.
j(b) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes Bidder:
(i) fails to sign the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement processcontract in accordance with ITB Clause 32; or
d. the withdrawal of bid prior (ii) fails to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.furnish performance security in accordance with ITB
Appears in 1 contract
Samples: Ordering Agreement
Bid Security. Every bidder(a) Subject to exemptions provided under para 5(1) (a) of Part-1 (ITT) of this document, the tender must be accompanied by a Bid Security as mentioned in tender documents, failing which the tender shall be summarily rejected.
(b) The Tenderer(s) shall keep the offer open for a minimum period of 60 days (in case of two packet system of tendering 90days) from the date of closing of the Tender. It is understood that the tender documents have been issued to the Tenderer(s) and the Tenderer(s), is / are permitted to tender in consideration of the stipulation on his / their part that after submitting his / their tender subject to the period being extended further, if required by mutual agreement from time to time, he will not exemptedresile from his offer or modify the terms and conditions thereof in a manner not acceptable to Railway. Should the tenderer fail to observe or comply with the foregoing stipulation, participating the amount deposited or Bank guarantee bond submitted as Bid Security for the due performance of the above stipulation, shall be forfeited to the Railway.
(c) If his tender is accepted,
(i) the Bid Security mentioned in the procurement process sub para(a) above deposited in cash through e-payment gateway will be required to furnish retained as part security for the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments due and faithful fulfillment of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings contract in terms of Clause 16 of the Central Government.Standard General Conditions of Contract;
b(ii) the Bid Security mentioned in sub para(a) above submitted as Bank guarantee bond, will be encashed as part security instrument or cash receipt for the due and faithful fulfillment of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) contract in terms of Clause 16 of the Standard General Conditions of Contract. The Bid security of a bidder lying with the procuring entity in respect Security of other bids awaiting decision Tenderers shall, save as herein before provided, be returned to them, but the Railway shall not be adjusted towards bid security responsible for any loss or depreciation to the fresh bids. The bid security originally deposited mayBid Security that may happen thereto while in their possession, however, nor be taken into consideration in case bids are re-invitedliable to pay interest thereon.
(d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of Contractor submits the successful bidderTerm Deposit Receipt/Bank Guarantee Bond towards either the Full Security Depositor the Part Security Deposit equal to or more than Bid Security, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity Railway shall promptly return the bid security after the earliest of the following eventsBid Security so retained as per sub para(c) above, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permittedContractor.
Appears in 1 contract
Samples: Tender Instructions
Bid Security. Every bidder, if not exempted, participating in the procurement process will (a) The tenderer shall be required to furnish submit the bid security Bid Security with the tender for the due performance with the stipulation to keep the offer open till such date as specified in the NIBtender, under the conditions of tender. The Bid Security shall be as under: Value of the Work Bid Security For works estimated to cost up to ₹ 1 crore 2% of the estimated cost of the work For works estimated to cost more than ₹ 1 crore ₹ 2 lakh plus ½% (half percent) of the excess of the estimated cost of work beyond ₹ 1 crore subject to a maximum of ₹ 1 crore Note: The Bid Security shall be rounded off to the nearest ₹100. This Bid Security shall be applicable for all modes of tendering. Any firm recognized by Department of Industrial Policy and Promotion (DIPP) as ‘Startups’ shall be exempted from payment of Bid Security detailed above. Labour Cooperative Societies shall submit only 50% of above Bid Security detailed above.
(b) It shall be understood that the tender documents have been issued to the tenderer and the tenderer is permitted to tender in consideration of stipulation on his part, that after submitting his tender he will not resile from his offer or modify the terms and conditions thereof in a manner not acceptable to the Engineer. Should the tenderer fail to observe or comply with the said stipulation, the aforesaid amount shall be liable to be forfeited to the Railway.
(c) If his tender is accepted, this Bid Security mentioned in sub para (a) In lieu of bid security, a bid securing declaration shall above will be taken from Departments retained as part security for the due and faithful fulfillment of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings contract in terms of Clause 16 of the Central Government.
b) Standard General Conditions of Contract. The Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect Security of other bids awaiting decision Tenderers shall, save as herein before provided, be returned to them, but the Railway shall not be adjusted towards bid security responsible for the fresh bidsany loss or depreciation that may happen thereto while in their possession, nor be liable to pay interest thereon.
(2) The Bid Security shall be deposited either in cash through e‑payment gateway or submitted as Bank Guarantee bond from a scheduled commercial bank of India or as mentioned in tender documents. The Bank Guarantee bond shall be as per Annexure-VIA and shall be valid for a period of 90days beyond the bid security originally deposited may, however, be taken into consideration in case bids are re-invitedvalidity period.
d(3) The bid security may be given In case, submission of Bid Security in the form of a banker’s cheque or demand draft or bank guaranteeBank Guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security following shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.ensured:
Appears in 1 contract
Samples: Instructions to Tenderers (Itt)
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Final RFP-Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 1 contract
Samples: Rate Contract for Logistic Partner
Bid Security. Every bidder, if not exempted, participating in the procurement process will be required to furnish the bid security as specified in the NIB.
a) In lieu of bid security, a bid securing declaration shall be taken from Departments of the State Government, Undertakings, Corporations, Autonomous bodies, Registered Societies and Cooperative Societies which are owned or controlled or managed by the State Government and Government Undertakings of the Central Government.
b) Bid security instrument or cash receipt of bid security or a bid securing declaration shall necessarily accompany the technical bid.
c) Bid security of a bidder lying with the procuring entity in respect of other bids awaiting decision shall not be adjusted towards bid security for the fresh bids. The bid security originally deposited may, however, be taken into consideration in case bids are re-invited.
d) The bid security may be given in the form of a banker’s cheque or demand draft or bank guarantee, in specified format, of a scheduled bank or deposited through eGRAS. The bid security must remain valid thirty days beyond the original or extended validity period of the bid.
e) The issuer of the bid security and the confirmer, if any, of the bid security, as well as the form and terms of the bid security, must be acceptable to the procuring entity.
. f) Prior to presenting a submission, a bidder may request the procuring entity to confirm the acceptability of proposed issuer of a bid security or of a proposed confirmer, if required. The procuring entity shall respond promptly to such a request.
g) The bank guarantee presented as bid security shall be got confirmed from the concerned issuing bank. However, the confirmation of the acceptability of a proposed issuer or of any proposed confirmer does not preclude the procuring entity from rejecting the bid security on the ground that the issuer or the confirmer, as the case may be, has become insolvent or has otherwise ceased to be creditworthy.
h) The bid security of unsuccessful bidders shall be refunded soon after final acceptance of successful bid and signing of Agreement and submitting performance security.
i) The Bid security taken from a bidder shall be forfeited, including the interest, if any, in the following cases, namely: - Rate Contract for Selection of Logistic Partner for e-Bazaar
a. when the bidder withdraws or modifies its bid after opening of bids;
b. when the bidder does not execute the agreement, if any, after placement of supply/ work order within the specified period;
c. when the bidder fails to commence the supply of the goods or service or execute work as per supply/ work order within the time specified;
d. when the bidder does not deposit the performance security within specified period after the supply/ work order is placed; and
e. if the bidder breaches any provision of code of integrity, prescribed for bidders, specified in the bidding document.
j) Notice will be given to the bidder with reasonable time before bid security deposited is forfeited.
k) No interest shall be payable on the bid security.
l) In case of the successful bidder, the amount of bid security may be adjusted in arriving at the amount of the Performance Security, or refunded if the successful bidder furnishes the full amount of performance security.
m) The procuring entity shall promptly return the bid security after the earliest of the following events, namely:-
a. the expiry of validity of bid security;
b. the execution of agreement for procurement and performance security is furnished by the successful bidder;
c. the cancellation of the procurement process; or
d. the withdrawal of bid prior to the deadline for presenting bids, unless the bidding documents stipulate that no such withdrawal is permitted.
Appears in 1 contract
Samples: Rate Contract for Selection of Agency for End to End Deployment and Managed Services of Atms
