Forfeiture of Counter Security & Performance Security. If the Employer has disqualified the Bidder(s) from the tender process prior to the award of the contract or terminated/determined the contract or has accrued the right to terminate/determine the contract according to Article 3(1), the Employer apart from exercising any legal rights that may have accrued to the Employer, may in its considered opinion forfeit the entire amount of Xxxxxxx Money Deposit, Performance Security, Counter Security of the Bidder(s)/Contractor(s).
Appears in 4 contracts
Samples: Tender for Bare Boat Chartering, Tender Agreement, Tender Agreement
