Common use of Tender Bond Clause in Contracts

Tender Bond. The Bidder must furnish, as part of his Tender, a Tender Bond in the value of not less than 1% of the Tender Value. If the Bidder submits an alternative Tender, the one percent shall be calculated based on the highest Tender Value. The wording of the Tender Bond shall be as per the prescribed Form of Tender Bond included within the Tender Document. See Annexure-12. The Tender Bond shall be denominated in Omani currency and shall be obtained from a bank located and registered in the Sultanate of Oman and valid for ninety (90) days from the latest date fixed for the submission of Tenders. Any Tender not accompanied by a Tender Bond will be rejected. The Tender Bond of unsuccessful Bidders will be returned on its expiration or after the award of the Contract to the successful Bidder. The Tender Bond will be forfeited: i) If a Xxxxxx withdraws his Tender during the period of Tender validity specified in the Tender Documents; or ii) In the case of a successful Bidder, if the Bidder fails: a) to sign the Contract; and/or b) To furnish the Performance Bond.

Tender Bond. The Bidder must shall furnish, as part of his Tender, a Tender Bond in the value of not less than 1% of the Tender Value. If the Bidder submits an alternative Tender, the one percent shall be calculated based on the highest Tender Value. The wording of the Tender Bond shall be as per the prescribed Form of Tender Bond included within the Tender Document. See Annexure-12Annexure-05. The Tender Bond shall be denominated in Omani currency and shall be obtained from a bank located and registered in the Sultanate of Oman and valid for ninety (90) days from the latest date fixed for the submission of Tenders. Any Tender not accompanied by a Tender Bond will be rejected. The Tender Bond of unsuccessful Bidders will be returned on its expiration or after the award of the Contract to the successful Bidder. The Tender Bond will be forfeited: i) If a Xxxxxx Tenderer withdraws his Tender during the period of Tender validity specified in the Tender Documents; or ii) In the case of a successful BidderTenderer, if the Bidder Tenderer fails: a) to sign the Contract; and/or b) To furnish the Performance Bond.

Tender Bond. The Bidder must shall furnish, as part of his Tender, a Tender Bond in the value of not less than 1% of the Tender Value. If the Bidder submits an alternative Tender, the one percent shall be calculated based on the highest Tender Value. The wording of the Tender Bond shall be as per the prescribed Form of Tender Bond included within the Tender Document. See Annexure-12. The Tender Bond shall be denominated in Omani currency and shall be obtained from a bank located and registered in the Sultanate of Oman and valid for ninety (90) days from the latest date fixed for the submission of Tenders. Any Tender not accompanied by a Tender Bond will be rejected. The Tender Bond of unsuccessful Bidders will be returned on its expiration or after the award of the Contract to the successful Bidder. The Tender Bond will be forfeited: i) If a Xxxxxx Tenderer withdraws his Tender during the period of Tender validity specified in the Tender Documents; or ii) In the case of a successful BidderTenderer, if the Bidder Tenderer fails: a) to sign the Contract; and/or b) To furnish the Performance Bond.