FAILURE TO EXECUTE CONTRACT. Failure of the successful bidder to execute the contract and furnish an acceptable surety bond or bonds and evidence of adequate insurance coverage within the ten (10) calendar day period specified in the subsection titled REQUIREMENTS OF CONTRACT BONDS of this section shall be just cause for cancellation of the award and forfeiture of the proposal guaranty, not as a penalty, but as liquidation of damages to the Owner. In the event the OWNER should re-advertise for bids, the defaulting Contractor shall not be eligible to bid.
FAILURE TO EXECUTE CONTRACT. Should the successful Bidder fail to execute the Contract and furnish bond or bonds satisfactorily to the Owner, or validate the same within ten (10) Calendar Days after Award of Contract, his Bid security shall be forfeited to the Owner as a penalty.
FAILURE TO EXECUTE CONTRACT. In the event of failure of the successful bidder to execute the contract and furnish any required security and insurances, within ten (10) days after notice of the award of the contract, the deposit of the successful bidder or so much thereof as shall be applicable to the amount of the award made shall be retained by the City, and the successful bidder shall be liable for and hereby agrees to pay on demand the difference between the price bid and the price for which such contract shall be subsequently re-let, including the cost of such re-letting and less the amount such deposit. No plea of mistake in such accepted bid shall be available to the bidder for the recovery of the deposit or as a defense to any action based upon such accepted bid. Further, should the bidder's failure to comply with this Section cause any funding agency, body or group (Federal, State, City, Public, Private, etc.) to terminate, cancel or reduce the funding on this project, the bidder in such event shall be liable also to the City for the amount of actual funding withdrawn by such agency on this project less the amount of the forfeited deposit.
FAILURE TO EXECUTE CONTRACT. A. Within ten days of the receipt of a notice of award, the bidder to whom the contract is awarded shall deliver the performance bond and/or specified insurance certificates to City.
B. If the bidder fails or refuses to furnish the required bond and/or insurance within ten days after receiving notice from Purchasing, Purchasing may, at its option, determine that this bidder has abandoned its bid. Thereupon the tentative award of said contract to this bidder shall be canceled and City shall notify the bidder’s surety and collect on the bidder’s bond (or the check accompanying its bid shall be deposited with the Treasurer of the City and County of San Francisco for collection) and the proceeds thereof shall be retained by City as partial liquidated damages for failure of such bidder to properly file the bonds and insurance herein required. The foregoing in no way limits the damages which are recoverable by City whether or not defined elsewhere in the contract documents.
FAILURE TO EXECUTE CONTRACT. Failure to return the insurance certification and bond with the signed Contract as required in Section 1-03.3, or failure to provide Disadvantaged, Minority or Women’s Business Enterprise information if required in the Contract, or failure or refusal to sign the Contract shall result in forfeiture of the proposal bond or deposit of this Bidder. If this should occur, the Contracting Agency may then Award the Contract to the second lowest responsible Bidder or reject all remaining Bids. If the second lowest responsible Bidder fails to return the required documents as stated above within the time provided after Award, the Contract may then be Awarded successively in a like manner to the remaining lowest responsible Bidders until the above requirements are met or the remaining Proposals are rejected.
FAILURE TO EXECUTE CONTRACT. In the event of failure of the successful bidder to execute the contract and furnish any required security, within ten (10) days after notice of the award of the contract, the deposit of the successful bidder or so much thereof as shall be applicable to the amount of the award made shall be retained by the City, and the successful bidder shall be liable for and hereby agrees to pay on demand the difference between the price bid and the price for which such contract shall be subsequently awarded, including the cost of any required reletting and less the amount of such deposit. No plea of mistake in such accepted bid shall be available to the bidder for the recovery of the deposit or as a defense to any action based upon such accepted bid.
FAILURE TO EXECUTE CONTRACT. Delete in its entirety and substitute the following:
FAILURE TO EXECUTE CONTRACT. Failure of the successful bidder to execute the contract and furnish an acceptable surety bond or bonds within the period specified in paragraph 30-06, Execution of Contract, of this section shall be just cause for cancellation of the award and forfeiture of the proposal guaranty, not as a penalty, but as liquidated damages to the Owner.
FAILURE TO EXECUTE CONTRACT. Failure to execute and return a Contract and file acceptable bonds and insurance as provided herein within ten (10) working days after the Bidder has received notice that the Contract has been awarded, shall be just cause for the annulment of the award and the forfeiture of the Bidder's guaranty to the City. Upon the failure or refusal of the successful Bidder to execute and return the contract and file acceptable bonds and insurance, the award may be made to the second lowest responsible Bidder, and should he fail or refuse to execute and return the Contract and file acceptable bonds and insurance, the award may be made to the third lowest responsible Bidder. On failure or refusal of the second or third lowest responsible Bidder to whom the Contract is awarded to execute and return the Contract and file acceptable bonds and insurance, their Bidder's guaranty shall be likewise forfeited to the City.
FAILURE TO EXECUTE CONTRACT. A. Within ten (10) business days of the receipt of a notice of award, the bidder to whom the contract is awarded shall deliver the specified insurance certificates to the City.
B. If such bidder fails or refuses to furnish the required insurance within ten (10) business days after receiving notice from Purchasing to file such, Purchasing may, at its option, determine that this bidder has abandoned their bid. Thereupon, the tentative award of said contract to this bidder shall be canceled. The foregoing in no way limits the damages which are recoverable by City whether or not defined elsewhere in the contract documents.
