Bid Deposit definition

Bid Deposit means a financial guarantee to ensure the successful bidder will enter into an agreement.

Bid Deposit means the form of security required by the terms and conditions of Bid Solicitations to guarantee that the successful Supplier enters into a Contract with the Corporation, as required by Section 26 of this By-law;

Bid Deposit means currencies, certified cheques, bid bond issued by a surety company licensed to operate by the Government of Canada or the Province of Ontario or another form of negotiable instrument acceptable to the City to compensate the City if the successful bidder does not enter into a contract.

Examples of Bid Deposit in a sentence

• The Bid Deposit of all Bidders, except the three (3) lowest acceptable Bidders, shall be returned within two (2) weeks after opening of bids.

• Bid Deposit Requirements:For the measure of liquidated damages which the City will sustain, the Bidder shall furnish a Bid Deposit in the form of a bond, certified check, or money order in the amount of 5% of Base Bid made payable to the City of Springfield, Missouri.

• A Bid Deposit of five percent (5%) will be required if your bid is $25,000 or above.

• Bid Deposit Not Required Bid Deposit Required as stipulated in the “IFB”.

• Bid Deposit - A deposit required with submitted proposals from bidders to protect the State in the event a low bidder attempts to withdraw its bid or otherwise fails to enter into a contract with the State.

More Definitions of Bid Deposit

Bid Deposit means the form of security required by the terms and conditions of Bid Solicitations to guarantee that the successful Supplier enters into a Contract with the Corporation.

Bid Deposit means a financial guarantee to ensure that the Successful Bidder will enter into an agreement.

Bid Deposit means currencies, certified cheques, bond surety issued by a surety company or other form of negotiable instrument to ensure the successful bidder will enter into an agreement;

Bid Deposit means bank drafts, certified cheques, money orders, or bond surety issued by a surety company or other form of negotiable instrument to ensure the Successful Bidder will enter into a contract;

Bid Deposit. - means currency, certified cheque, bank draft, bond surety issued by a surety company or other form of negotiable instrument submitted by a bidder as evidence of their commitment to do the work outlined in the Request for Quote or Tender.

Bid Deposit means currency, certified cheque, bank draft, bond surety issued by a surety company, Irrevocable Letter of Credit, or other form of negotiable instrument submitted by a Bidder as evidence of their commitment to enter into an Agreement to do the work outlined in the Bid Solicitation;

Bid Deposit means certified cheques, bond surety issued by a surety company or other form of negotiable instrument to ensure the successful bidder will enter into a contract;