Form of Proposal Bond. A proposal bond in the amount of $50 million and in the form of Form K shall be provided by a Surety rated in the top two categories by two nationally recognized rating agencies or at least A minus (A-) or better and Class VIII or better by A.M. Best and Company. The proposal bond shall be subject to forfeiture in accordance with ITP Section 4.8. Each proposal bond will be retained until the Development Agreement Documents and CMA Documents have been fully executed, after which the proposal bond for each unsuccessful Proposer, except those proposal bonds which have been forfeited, will be returned to the respective Proposers. The proposal bond for the successful Proposer shall be returned at such time as Proposer has satisfied all conditions of execution and award set forth in ITP Section 6.1. If the next best value Proposer is notified during the 180-day period that it is selected for negotiations, such Proposer shall obtain an extension of the Proposal Bond for the period until 270 days after the Price Proposal Due Date. Exhibit D REQUIRED FORMS (see attached) Exhibit E SUMMARY AND ORDER OF PROPOSAL CONTENTS Proposal Component Form (if any) ITP Section Cross- Reference Technical Proposal Proposers shall follow the order of this checklist in their submissions. A referenced copy of this document shall be submitted with the Technical Proposal.
Appears in 4 contracts
Samples: A Definitions and Acronyms, A Definitions and Acronyms, A Definitions and Acronyms
