Bid Bond definition

Bid Bond means the unconditional and irrevocable bank guarantee to be submitted along with the Bid by the Bidder under Clause of this RFP, in the prescribed Format;

Bid Bond means the financial security for the bid, in the shape of demand draft in the name of USF Co., which an Applicant must furnish to USF Co. in accordance with section 39 of this RFA;

Bid Bond means the unconditional and irrevocable bank guarantee to be submitted along with the Bid by the Bidder under Clause 2.18 of this RfP, as per the prescribed Format 4.6;

Examples of Bid Bond in a sentence

• When submitting a Bid Bond, it shall contain Power of Attorney for full amount of Bid Bond from a surety company authorized to do business in the State of New Jersey and acceptable to the County.

• Failure to submit a Bid Bond as required will cause a bid to be rejected.

• In some cases, a cashier’s check or certified check submitted as a Bid Bond will be held as the Performance Bond of the successful bidder.

• If required, a Bid Bond in the form of a cashier’s check, certified check, or surety bond issued by a surety company, in an amount stated in the Bid Invitation, must accompany bid.

• The Bid Bond will be forfeited as liquidated damages if the successful bidder fails to provide a required Performance Bond within the period stipulated by AHTD or fails to honor their bid.

More Definitions of Bid Bond

Bid Bond means an insurance agreement in which a third party agrees to be liable to pay a certain amount of money in the event that a specific bidder, if his bid is accepted, failed to accept the contract as bid.

Bid Bond means the security executed by the Bidder and the Surety furnished to TxDOT to guarantee payment of liquidated damages if the Bidder fails to enter into an awarded Contract.

Bid Bond means the unconditional and irrevocable bank guarantee for Rupees Twenty Eight Crore Only (Rs. 28 Crore), to be submitted along with the Technical Bid by the Bidder under Clause 2.11 of this RFP, as per the format prescribed in Annexure 14;

Bid Bond means a bond given to the Township to guarantee entry into a contract. This bond is given to indemnify the Township against increased costs if the bidder does not carry out the specified undertaking to enter into a contract;

Bid Bond means the financial security for the bid, including any pay order or demand draft in the name of USFCo, that an Applicant must furnish to USFCo in accordance with section 39 of this RFA;

Bid Bond means the cash security to be lodged by an Applicant in respect of an Application for Qualification in accordance with these Terms and Conditions.

Bid Bond means an insurance agreement in which a third party agrees to be liable to pay a certain amount of money in the event a specific bidder fails to accept the contract as bid.