Bid Surety definition

Bid Surety means letters of credit, bond surety or electronic bonds issued by a Licensed Canadian Surety Company or Canadian Charted Bank to ensure the successful bidder will enter into an agreement.
Sample 1Sample 2Sample 3
Bid Surety means a certified bank check, or a bid bond, issued in the name of the Board in the amount of $15,000. Such surety is posted with the bid proposal and is forfeited should the bidder refuse to undertake a contract for transportation services upon acceptance of his proposal by the Board.
Sample 1
Bid Surety means a monetary commitment by a Bidder in the form of either a certified cheque, Irrevocable Stand-by Letter of Credit or a Bid Bond issued by a surety, (as per the instructions to Bidder in a Bid solicitation);
Sample 1

Examples of Bid Surety in a sentence

  • Failure to provide Bid Surety with bid may be cause for rejection of bid.

  • The Bid Surety of any three bidders in contention will be held until an award has been made according to the specifications of each proposal.

  • The Bid Surety of any three (3) bidders in contention will be held until an award has been made according to the specifications of each proposal.

  • Failure to provide Bid Surety with a bid may be cause for rejection of the bid.

  • The Bid Surety of all bidders may be retained until after the award to the successful bidder is made.

  • The Bid Surety of the successful bidder shall be retained until completion of the Contract or the posting of a Performance Bond, whichever occurs sooner.

  • Bid Surety will be returned to all bidders upon completion of the contract award process, with the exception of the successful bidder.

  • Any Bid Surety and related forms and instruments required must be executed and attached to the bid submittal.

  • All bids shall be accompanied by a Bid Surety in the form of a certified check, or bid bond, made payable to the County Commissioners of Kent County, Maryland for the penal sum of 5% of the bid price.

  • The Bid Surety of all Bidders may be retained until after the award to the successful Bidder is made.

Related to Bid Surety

  • Bid Bond means the unconditional and irrevocable bank guarantee to be submitted along with the Bid by the Bidder under Clause 3.14 of this RFS, in the prescribed Format- 3.

  • Bid/Tender means the Techno Commercial and the Price Bid submitted by the Bidder along with all documents/credentials/attachments, formats, etc., in response to this Bid Document, in accordance with the terms and conditions hereof.

  • Competitive Bid Borrowing means a borrowing consisting of simultaneous Competitive Bid Advances from each of the Lenders whose offer to make one or more Competitive Bid Advances as part of such borrowing has been accepted under the competitive bidding procedure described in Section 2.03.

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.

  • Bid Request means a written request for one or more Bid Loans substantially in the form of Exhibit B-1.

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Surety Ambac, or its successors in interest, or such other surety as may be identified in the Series Supplement.

  • Bid Borrowing means a borrowing consisting of simultaneous Bid Loans of the same Type from each of the Lenders whose offer to make one or more Bid Loans as part of such borrowing has been accepted under the auction bidding procedures described in Section 2.03.

  • Competitive Bid Quote Request means the notice, in substantially the form of Exhibit C hereto, to be delivered by the Company in accordance with Section 2.03 in requesting Competitive Bid Quotes.

  • Competitive Bid Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender.

  • Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan.

  • Bid Loan Lender means, in respect of any Bid Loan, the Lender making such Bid Loan to the Borrower.

  • Notice of Competitive Bid Borrowing has the meaning specified in Section 2.03(a).

  • Competitive Bid Accept/Reject Letter means a notification made by the Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • Absolute Rate Loan means a Bid Loan that bears interest at a rate determined with reference to an Absolute Rate.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

  • Responsive Bidder or Offeror means a person who submits a bid or proposal which conforms in all material respects to the invitation for bids or request for proposals.

  • Guarantor Request and "Guarantor Order" mean, respectively, a written request or order, as the case may be, signed in the name of the Guarantor by the Chairman of the Board, a Vice Chairman, the President or a Vice President, and by the Treasurer or an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Guarantor and delivered to the Trustee.

  • Bids means the Techno Commercial Bid submitted by the Bidder along with all documents / credentials / attachments annexure etc., in response to this RFQ, in accordance with the terms and conditions hereof.

  • Bid Loan has the meaning specified in Section 2.03(a).

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Money Market Absolute Rate Loan means a loan to be made by a Bank pursuant to an Absolute Rate Auction.

  • Submitted Bid has the meaning specified in Section 11.10(d)(i) below.

  • Competitive Bid means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.