Common use of Tender Security Clause in Contracts

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. 2.12.1. 2.12.1 The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000security. 2.12.2. 2.12.2 The tender security shall be in the form an amount of a Guarantee issued by a Bank or Insurance Company accepted by NAIVAWASCO 2.12.3Kenya Shillings Fifty Thousand (Kshs. The tender security shall be in the amount not exceeding 2 per cent of the tender price50,000.00). 2.12.4. 2.12.3 The tender security Tender Security is required to protect the Procuring entity PCK against the risk of Tenderer’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.72.14.8 2.12.5. 2.12.4 The tender security Tender Security shall be denominated in a Kenya Shillings or in another freely convertible currency Shillings, and shall be in the form of: a) A of a bank guarantees. b) Cash. c) Such insurance guarantee issued by a reputable bank located in Kenya, or such Insurance Guarantee approved by the NAIVAWASCOAuthority in the form provided in the tender documents and valid for thirty (30) days beyond the validity of the tender. d) Letter of credit 2.12.6. 2.12.5 Any tender not secured in accordance with paragraph 2.12.1 2.14.1 and 2.12.3 2.14.3 will be rejected by the Procuring entity PCK as non-responsive, pursuant to paragraph 2.202.22 2.12.7. 2.12.6 Unsuccessful tenderer’s security Tender 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 entityPCK. 2.12.8. 2.12.7 The successful tenderer’s tender security Tender Security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.26, 2.29 and furnishing the performance security, pursuant to paragraph 2.27.2.30 2.12.9. 2.12.8 The tender security Tender Security may be forfeited: (a) If a tenderer withdraws its the tender during after the deadline for submitting tenders but before the expiry of the period of tender validity specified by the procuring entity on the Tender Form; orduring which tenders shall remain valid; (b) In the case of a successful tenderer, if the tenderer fails: (i). ) to sign the contract in accordance with paragraph 30 or 2.29 or (ii). ) to furnish performance security in accordance with paragraph 31.2.30 (c) If the tenderer rejects, correction of an error in the tender.

Tender Security. 2.12.1. 2.12.1 The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000for the amount and form specified in the Invitation to tender. 2.12.2. 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 Ksh 50,000 of the tender price. 2.12.4. 2.12.3 The tender security is required to protect the Procuring entity TCG against the risk of TendererXxxxxxxx’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.72.12.8 2.12.5. 2.12.4 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 guaranteesguarantee. b) Cash. c) Such insurance guarantee approved by the NAIVAWASCOAuthority. d) Letter of credit. 2.12.6. 2.12.5 Any tender not secured in accordance with paragraph 2.12.1 and 2.12.3 2.12.4 will be rejected by the Procuring entity TCG as non-responsive, pursuant to paragraph 2.20 2.12.7. 2.12.6 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.procuringentity 2.12.8. 2.12.7 The successful tenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.262.29, and furnishing the performance security, pursuant to paragraph 2.272.30. 2.12.9. 2.12.8 The tender security may be forfeited: a) If a the tenderer withdraws its tender during the period of tender validity specified by the procuring entity TCG on the Tender Form; or b) In the case of a successful tenderer, if the tenderer fails: i). i. to sign the contract in accordance with paragraph 30 or 30 ii). to furnish performance security in accordance with paragraph 31. c) If the tenderer rejects, correction of an error in the tender.

Tender Security. 2.12.1. 2.12.1 The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000for the amount and form specified in the Appendix to Instructions to Tenderers. 2.12.2. 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 exceed 2 per cent of the tender price. 2.12.4. 2.12.3 The tender security is required to protect the Procuring entity Entity against the risk of TendererXxxxxxxx’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.7 2.12.5. 2.12.4 The tender security shall be denominated in a Kenya Shillings or in another freely convertible currency currency, and shall be in the form of:form a) A bank guaranteesCash. b) CashA bank guarantee. c) Such insurance guarantee approved by the NAIVAWASCOAuthority. d) Letter of credit. 2.12.6. 2.12.4.1 Any tender not secured in accordance with paragraph 2.12.1 2.12.1. and 2.12.3 will shall be rejected by the Procuring procuring entity as non-responsive, pursuant to paragraph 2.202.20.5 2.12.7. 2.12.4.2 Unsuccessful tendererTenderer’s tender 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.validity 2.12.8. 2.12.4.3 The successful tendererTenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.262.29, and furnishing the performance security, pursuant to paragraph 2.27.2.30 2.12.9. 2.12.5 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; orvalidity. (b) In the case of a successful tenderer, if the tenderer fails: (i). ) to sign the contract in accordance with paragraph 30 or 2.29 or (ii). ) to furnish performance security in accordance with paragraph 312.30. (c) If the tenderer rejects, reject correction of an arithmetic error in the tender.

Tender Security. 2.12.1. 2.14.1 The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000 2.12.2. The tender security shall be for the amount and form specified in the form of a Guarantee issued by a Bank or Insurance Company accepted by NAIVAWASCOInvitation to tender. 2.12.3. 2.14.2 The tender security shall be in the amount not exceeding 2 per cent of the tender price. 2.12.4. 2.14.3 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. 2.14.4 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 guaranteesguarantee. b) Cash. c) Such insurance guarantee approved by the NAIVAWASCOAuthority. d) Letter of credit 2.12.6. 2.14.5 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. 2.14.6 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. 2.14.7 The successful tenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.262.29, and furnishing the performance security, pursuant to paragraph 2.272.30. 2.12.9. 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 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. 2.12.1. 2.14.1 The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000 2.12.2. The tender security shall be for the amount specified 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 priceAppendix to Invitation to Tenderers. 2.12.4. 2.14.2 The tender security is required to protect the Procuring entity NCA against the risk of Tenderer’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.72.14.7 2.12.5. 2.14.3 The tender security shall be denominated in a Kenya Shillings or in another freely convertible currency currency, and shall be in the form of: aof 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 NCA and valid for thirty (30) A bank guaranteesdays beyond the validity of the tender. b) Cash. c) Such insurance guarantee approved by the NAIVAWASCO. d) Letter of credit 2.12.6. 2.14.4 Any tender not secured in accordance with paragraph 2.12.1 2.14.1 and 2.12.3 2.14.3 will be rejected by the Procuring entity NCA as non-responsive, pursuant to paragraph 2.202.22 2.12.7. 2.14.5 Unsuccessful tendererTenderer’s tender 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 entityNCA. 2.12.8. 2.14.6 The successful tendererTenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.26, 2.27 and furnishing the performance security, pursuant to paragraph 2.27.2.28 2.12.9. 2.14.7 The tender security may be forfeited: (a) If if a tenderer withdraws its tender during the period of tender validity specified by the procuring entity NCA on the Tender Form; or (b) In in the case of a successful tenderer, if the tenderer fails: (i). ) to sign the contract in accordance with paragraph 30 or 2.27 or (ii). ) to furnish performance security in accordance with paragraph 31. c) If the tenderer rejects, correction of an error in the tender.2.28

Tender Security. 2.12.1. 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 for the amount and form specified in the form of a Guarantee issued by a Bank or Insurance Company accepted by NAIVAWASCOInvitation to tender. 2.12.3. 2.12.2 The tender security shall be in the amount not exceeding 2 per cent of the tender price. 2.12.4. 2.12.2 The tender security is required to protect the Procuring entity TSC against the risk of TendererXxxxxxxx’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.7 2.12.5. 2.12.3 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 guaranteesguarantee. b) Cash. c) Such insurance guarantee approved by the NAIVAWASCOAuthority. dc) Letter of credit 2.12.6. 2.12.4 Any tender not secured in accordance with paragraph 2.12.1 and 2.12.3 will be rejected by the Procuring entity TSC as non-non responsive, pursuant to paragraph 2.20 2.12.7. 2.12.5 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. 2.12.6 The successful tenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.262.29, and furnishing the performance security, pursuant to paragraph 2.272.30. 2.12.9. 2.12.7 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 30 (ii). ) to furnish performance security in accordance with paragraph 31. (c) If the tenderer rejects, rejects correction of an error in the tender.

Tender Security. 2.12.1. 2.12.1 The tenderer shall furnish, as part of its tender, a tender security of Kshs 50,000for the amount and form specified in the Appendix to Instructions to Tenderers. 2.12.2. 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 exceed 2 per cent of the tender price. 2.12.4. 2.12.3 The tender security is required to protect the Procuring entity NEPAD/APRM Kenya Secretariat against the risk of Tenderer’s conduct which would warrant the security’s forfeiture, pursuant to paragraph 2.12.7 2.12.5. 2.12.4 The tender security shall be denominated in a Kenya Shillings or in another freely convertible currency currency, and shall be in the form of:form a) Cash. b) A bank guarantees. b) Cash. c) Such insurance guarantee approved by the NAIVAWASCOAgency. d) Letter of credit 2.12.6. 2.12.5 Any tender not secured in accordance with paragraph 2.12.1 2.12.1. and 2.12.3 will shall be rejected by the Procuring entity NEPAD/APRM Kenya Secretariat as non-non- responsive, pursuant to paragraph 2.202.20.5 2.12.7. 2.12.6 Unsuccessful tendererTenderer’s tender 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.validity 2.12.8. 2.12.7 The successful tendererTenderer’s tender security will be discharged upon the tenderer signing the contract, pursuant to paragraph 2.262.29, and furnishing the performance security, pursuant to paragraph 2.27.2.30 2.12.9. 2.12.8 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; orvalidity. (b) In in the case of a successful tenderer, tenderer if the tenderer fails: (i). ) to sign the contract in accordance with paragraph 30 or 2.29 or (ii). ) to furnish performance security in accordance with paragraph 312.30. c) If the tenderer rejects, correction of an error in the tender.