Common use of Return of Bid Deposit Clause in Contracts

Return of Bid Deposit. When Proposals have been examined and corrected as necessary, proposal bonds and deposits accompanying Proposals ineligible for further consideration will be returned. All other proposal bonds and deposits will be held until the Contract has been properly executed. When the Contract has been properly executed, all remaining deposits or bonds, except those subject to forfeiture, will be returned.

Return of Bid Deposit. When Proposals proposals have been examined and corrected as necessary, proposal bonds and deposits accompanying Proposals proposals ineligible for further consideration will be returned. All other proposal bonds and deposits will be held until the Contract contract has been properly executed. When the Contract contract has been properly executed, all remaining deposits or bonds, except those subject to forfeiture, will be returned.