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. END OF SECTION 30
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. 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.
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the funding on this project, the bidder in such event shall be liable also to the City for the amount of actual funding withdrawn by such agency on this project less the amount of the forfeited deposit.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. 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. 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. Delete in its entirety and substitute the following: "Failure to execute the Contract, Contract Performance and Payment Bond, or furnish satisfactory proof of carriage of the insurance required within 15 calendar days after the date of Notice of Award of the Contract may be just cause for the annulment of the award and for the forfeiture of the proposal guaranty to XXXXXXXXX COUNTY, not as a penalty, but as liquidation damages sustained. At the discretion of the County, the award may then be made to the next lowest responsible Bidder, or the Work may be re- advertised or constructed by County forces. The Contract and Contract bonds shall be executed in duplicate." SECTION 104 SCOPE OF WORK Subsection 104.03.A - AUTHORITY TO MAKE CHANGES: Delete the second paragraph and substitute the following: Whenever an alteration in character of work involves a substantial change in the nature of the design or in the type of construction or materially increases or decreases the cost of performance, a Supplemental Agreement acceptable to both parties shall be executed before work is started on such alteration, except that in the absence of a Supplemental Agreement acceptable to both parties, the Engineer may direct that the work be done either by Force Account or at existing Contract prices subject to the provisions of Subsection 105.13. Any Force Account Agreement must be in writing, specifying the terms of payment, signed by the State Highway Engineer and agreed to in writing by the Contractor. All work shall be performed as directed and in accordance with the Specifications.
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. Any seller not lawfully released from its quote, who refuses to execute a contract in accordance with its quote or who fails, refuses or is unable to furnish any required payment security, performance security or insurance, as may be required by the Bid Solicitation and Quote and/or these Terms and Conditions of Bidding and Contract, shall be liable for 10% of the amount of its quote, as liquidated damages to the City; or where the damages are readily ascertainable by the City, for the actual loss, cost or damage incurred by the City as a result of its failure to execute the Contract or to furnish such bonds, performance security or insurance.
