Common use of Tender Official Clause in Contracts

Tender Official. Except for transfers due to changes in name and status of the contractor, a contractor cannot transfer or take over more than one contract within 3 (three) years period, this condition will be checked by the CONTRACTING ENTITY. Following the grant of necessary approval by the Tender Official, before signing a transfer contract, the transferee of the contract shall submit a performance bond at a rate of 6% (six percent) of the contract price to the CONTRACTING ENTITY on the values as specified in article 9.2