Common use of Tender Security Clause in Contracts

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;

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 periodestimated Price;