Tender Security. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, as specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified in the TDS.
18.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms.
18.3 If a Tender Security is specified pursuant to ITT 18.1, the Tender Security shall be a demand guarantee in any of the following forms at the Tenderer option:
i) cash;
ii) a bank guarantee; iii) a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or
Tender Security. 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security as specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified in the TDS. A Tender-Securing Declaration shall use the formincluded in Section IV, Tender Forms.
21.2 If a Tender Security is specified pursuant to ITT 19.1, the Tender Security shall be a demand guarantee in any of the following forms at the Tenderer's option:
a) an unconditional Bank Guarantee issued by reputable commercial bank); or
b) an irrevocable letter of credit;
c) a Banker's cheque issued by a reputable commercial bank; or
d) another security specified in the TDS,
21.3 If an unconditional bank guarantee is issued by a bank located outside Kenya, the issuing bank shall have a correspondent bank located in Kenya to make it enforceable. The Tender Security shall be valid for thirty (30) days beyond the original validity period of the Tender, or beyond any period of extension if requested under ITT 20.2.
21.4 If a Tender Security or Tender-Securing Declaration is specified pursuant to ITT 19.1, any Tender not accompanied by a substantially responsive Tender Security or Tender-Securing Declaration shall be rejected by the Procuring Entity as non-responsive.
21.5 If a Tender Security is specified pursuant to ITT 21.1, the Tender Security of unsuccessful Tenderers shall be returned as promptly as possible upon the successful Tenderer's signing the Contract and furnishing the Performance Security and any other documents required in the TDS. The Procuring Entity shall also promptly return the tender security to the tenderers where the procurement proceedings are terminated, all tenders were determined nonresponsive or a bidder declines to extend tender validity period.
21.6 The Tender Security of the successful Tenderer shall be returned as promptly as possible once the successful Tenderer has signed the Contract and furnished the required Performance Security, and any other documents required in the TDS.
21.7 The Tender Security may be forfeited or the Tender-Securing Declaration executed:
Tender Security. 2.12.1 The tenderer shall furnish, as part of its tender, a tender security for the amount and form specified in the Invitation to tender.
2.12.2 The tender security shall be in the amount not exceeding 2 per cent of the tender price.
Tender Security. 2.14.1 The tenderer shall furnish, as part of its tender, a tender security for the amount specified in the Appendix to Invitation to Tenderers.
2.14.2 The tender security shall be in the amount of 0.5 – 2 per cent of the tender price.
2.14.3 The tender security is required to protect the Procuring entity against the risk of Xxxxxxxx’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.14.7
2.14.4 The tender security shall be denominated in Kenya Shillings or in another freely convertible currency, and shall be in the form of a bank guarantee or a bank draft issued by a reputable bank located in Kenya or abroad, or a guarantee issued by a reputable insurance company in the form provided in the tender documents or another form acceptable to the Procuring entity and valid for thirty (30) days beyond the validity of the tender.
2.14.5 Any tender not secured in accordance with paragraph 2.14.1 and 2.14.3 will be rejected by the Procuring entity as non responsive, pursuant to paragraph 2.22
Tender Security. 2.14.1 The tenderer shall furnish, as part of its tender, a tender security for the amount specified in the Appendix to Invitation to Tenderers.
2.14.2 The tender security shall be in the amount of 0.5 – 2 per cent of the tender price.
2.14.3 The tender security is required to protect the Procuring entity against the risk of Xxxxxxxx’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.14.7
2.14.4 The tender security shall be denominated in Kenya Shillings or in another freely convertible currency, and shall be in the form of a bank guarantee or a bank draft issued by a reputable bank located in Kenya or abroad, or a guarantee issued by a reputable insurance company in the form provided in the tender documents or another form acceptable to the Procuring entity and valid for thirty (30) days beyond the validity of the tender.
2.14.5 Any tender not secured in accordance with paragraph 2.14.1 and 2.14.3 will be rejected by the Procuring entity as non-responsive, pursuant to paragraph 2.22
2.14.6 Unsuccessful Tenderer’s tender security will be discharged or returned as promptly as possible but not later than thirty (30) days after the expiration of the period of tender validity prescribed by the Procuring entity.
2.14.7 The successful Tenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.27 and furnishing the performance security, pursuant to paragraph 2.28
2.14.8 The tender security may be forfeited:
(a) if a tenderer withdraws its tender during the period of tender validity specified by the procuring entity on the Tender Form; or (b) in the case of a successful tenderer, if the tenderer fails: (i) to sign the contract in accordance with paragraph 2.27 or
Tender Security. 1The tenderer shall furnish, as part of its tender, a tender security for the amount specified in the Appendix to Invitation to Tenderers.
Tender Security. 13.1 The Tenderer shall furnish the Tender Security as under:
13.2 As part of financial bid envelope, failing which will cause rejection of bid.
13.2.1 In the form of Demand Draft / Pay Order / Call Deposit Receipt, in the name of the Purchaser;
13.2.2 for a sum equivalent to 2% of the Total Tender Price;
13.2.3 denominated in Pak Rupees;
13.2.4 Have a minimum validity period of ninety days from the last date for submission of the Tender or until furnishing of the Performance Security, whichever is later.
13.3 The proceeds of the Tender Security shall be payable to the Purchaser, on the occurrence of any / all of the following conditions:
13.3.1 If the Tenderer withdraws the Tender during the period of the Tender validity specified by the Tenderer on the Tender Form; or
13.3.2 If the Tenderer does not accept the corrections of his Total Tender Price; or
13.3.3 If the Tenderer, having been notified of the acceptance of the Tender by the Purchaser during the period of the Tender validity, fails or refuses to furnish the Performance Security, in accordance with the Tender Document.
13.4 The Tender security shall be returned to the technically unsuccessful Tenderer with unopened/sealed financial bid while the unsuccessful bidders of financial bid opening procedure will be returned the tender security only. The Tender Security shall be returned to the successful Tenderer on furnishing the Performance Security.
Tender Security. 2.12.1. The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000
2.12.2. The tender security shall be in the form of a Guarantee issued by a Bank or Insurance Company accepted by NAIVAWASCO
2.12.3. The tender security shall be in the amount not exceeding 2 per cent of the tender price.
2.12.4. The tender security is required to protect the Procuring entity against the risk of Tenderer’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.7
2.12.5. The tender security shall be denominated in a Kenya Shillings or in another freely convertible currency and shall be in the form of:
a) A bank guarantees.
b) Cash.
c) Such insurance guarantee approved by the NAIVAWASCO.
d) Letter of credit
2.12.6. Any tender not secured in accordance with paragraph 2.12.1 and 2.12.3 will be rejected by the Procuring entity as non-responsive, pursuant to paragraph 2.20
2.12.7. Unsuccessful tenderer’s security will be discharged or returned as promptly as possible as but not later than thirty (30) days after the expiration of the period of tender validity prescribed by the procuring entity.
2.12.8. The successful tenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.26, and furnishing the performance security, pursuant to paragraph 2.27.
2.12.9. The tender security may be forfeited:
a) If a tenderer withdraws its tender during the period of tender validity specified by the procuring entity on the Tender Form; or
b) In the case of a successful tenderer, if the tenderer fails:
i). to sign the contract in accordance with paragraph 30 or ii). to furnish performance security in accordance with paragraph 31.
c) If the tenderer rejects, correction of an error in the tender.
Tender Security. The Tenderer shall furnish as part of its Tender, either a Tender- Securing Declaration or a Tender Security, as specified in the TDS, (ITT 18.1) in original form and, in the case of a Tender Security, in the amount and currency specified in the TDS.
Tender Security a. The Tenderer shall furnish the Tender Security as under:
b. As part of financial bid envelope, failing which will cause rejection of bid.
i. In the form of Demand Draft / Pay Order / Call Deposit Receipt, in the name of the Purchaser; ii. for a sum equivalent to 2% of the Total contract period;
