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Bid Security definition

Bid Security means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;
Bid Security. (BS) means Earnest Money Deposit / monetary or financial guarantee to be furnished by a bidder along with its tender.
Bid Security means the bank guarantee or other form of security submitted by a bidder together with a bid to secure the obligations of the bidder participating in a bidding proceedings

Examples of Bid Security in a sentence

  • The Bid Security of the successful bidder would be returned, without any interest whatsoever, after the receipt of Performance Security from them as called for in the contract.

  • During the Suspension/ Banning period, if it is found at any stage that Agency has participated in tender enquiry under a different name then such Agency would immediately be debarred from the tender/contract and its Bid Security / EMD / Performance Security would be forfeited.

  • Upon award, the successful Contractor shall replace the Bid Security with the Performance Security.

  • The Performance Security shall be valid until 60 (sixty) days of the expiry of the Defects Liability Period specified in Clause 15.1.1. Until such time the Performance Security is furnished by the Contractor pursuant hereto and the same comes into effect, the ‘Bid Security’ shall remain in force and effect, and upon such furnishing of the Performance Security, the Authority shall release the Bid Security to the Contractor.

  • Due to any breach of these conditions by the company or firm or any other person the tender will be cancelled and Bid Security will be forfeited at any stage whenever it is noticed and BSNL will not pay any damage to the company or firm or the concerned person.


More Definitions of Bid Security

Bid Security. (i.e. Earnest Money Deposit) means monetary guarantee to be furnished by a Bidder along with its Bid.
Bid Security means the bank guarantee or CDR submitted by a Bidder together with a bid to secure the obligations of the Bidder participating in a bidding proceedings
Bid Security means the bid security provided by the Contractor to the Bilaspur Smart City Limited in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;
Bid Security means bid security as referred to in Clause 15.
Bid Security means the unconditional and irrevocable bank guarantee to be submitted along with the Bid at the RFP stage. The details will be provided to the qualified bidders at the RFP stage.
Bid Security means the refundable amount to be submitted by the Bidder along with Tender Documents to DMRC as a security against the earnestness of bid.
Bid Security means the bid security to be given by the Bidders, as detailed in Clause 14 of the ITB.