Common use of Tender Security Clause in Contracts

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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 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. 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 iv) a letter of credit; or

Tender Security. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, as specified specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified 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 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, as specified specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified specified in the TDS. 18.2 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.120.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, 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 21.2 A Tender Tender-Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.120.1, the Tender Security tender security shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's option: i) a. cash; ii) b. a bank guarantee; iii) c. a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or

Tender Security. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-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. 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 iv) a letter of credit; or

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 SecuritySecurity , 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. 18.1 19.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, 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 Tender-Securing Declaration shall use the form included in Section IV, Tendering Tender Forms. 18.3 19.2 If a Tender Security is specified pursuant to ITT 18.1ITT19.1, the Tender Security shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 20.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 20.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 20.3 If a Tender Security is specified pursuant to ITT 18.120.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's option: i) cash; ii) a bank guarantee; iii) a iii)a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or

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 amountand 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. 18.1 ‌ 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 17.1 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 17.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 17.3 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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 AuthoritytheAuthority; or

Tender Security. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender SecuritySecurity of Kshs. 200,000.00, 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; iiiii) a guarantee by an insurance company registered and licensed by the Insurance Regulatory Authority listed by the Authority; or

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 demandguarantee 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. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or Declarationor 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 FormsTenderingForms. 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, as specified specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified specified in the TDS. 18.2 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer’s 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. 18.1 22.1 The Tenderer shall furnish as part of its Tender, either a Tender-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 22.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 22.3 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; 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. 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. 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 iv) a letter of credit; or

Tender Security. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Tender- Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.120.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or Declarationor a Tender Security, as specified in the TDS, in original form and, in the case of a Tender aTender 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 abank guarantee; iii) a guarantee by an insurance company registered and licensed by the bythe Insurance Regulatory Authority listed by the Authority; or iv) a letter of credit; or

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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, as specified 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's option: i) cashCash; 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, as specified specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified specified in the TDS. 18.2 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified specified pursuant to ITT 18.120.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, as specified in the TDSTDS , in original form and, in the case of a Tender Security, in the amount and currency specified in the TDSTDS . 18.2 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer’s 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. 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 demandguarantee 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. 18.1 22.1 The Tenderer shall furnish as part of its Tender, either a Tender-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 22.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 22.3 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, as specified in the TDS, in original form andformand, in the case of thecaseof a Tender Security, in the amount theamount and currency specified in the TDS. 18.2 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 17.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Security, as specified specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified specified in the TDS. 18.2 17.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 17.3 If a Tender Security is specified 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. 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-Tender- Securing Declaration or a Tender Security, as specified specified in the TDS, in original form and, in the case of a Tender Security, in the amount and currency specified 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 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. ‌ 18.1 The Tenderer shall furnish as part of its Tender, either a Tender-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 atthe Tenderer option: i) cash; ii) a bank guarantee; iii) a guarantee by an insurance company registered and licensed by the bythe Insurance Regulatory Authority listed by the Authority; or

Tender Security. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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. 18.1 21.1 The Tenderer shall furnish as part of its Tender, either a Tender-Securing Declaration or a Tender Securitysecurity, 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 21.2 A Tender Securing Declaration shall use the form included in Section IV, Tendering Forms. 18.3 21.3 If a Tender Security is specified pursuant to ITT 18.121.1, the Tender Security from a reputable source, and an eligible country and shall be a demand guarantee in any of the following forms at the Tenderer Tenderer's 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