Examples of Conditional Award in a sentence
The Issuing Officer or a designee shall be the sole point of contact regarding the RFP from the date of issuance of the RFP until the issuance of the Notice of Conditional Award.
Said agency shall remain in effect during the performance of the Contract and for 6 years following Acceptance.The Award or Conditional Award is not binding upon the Department until the Department has executed the Contract.
Within ten State business days of the date of Award or Conditional Award, the Bidder to whom the Contract has been awarded shall complete and deliver a Performance Bond and a Payment Bond on forms furnished by the Department.Each bond shall be the sum of not less than the Total Contract Price less the lump sum bid for the Pay Item “Performance Bond and Payment Bond” and shall be maintained by the Contractor until Acceptance.
Failure on the part of the Bidder, whom the Contract has been awarded, to execute and deliver the Contract, Performance Bond and Payment Bonds, and other documents as specified in 103.06, in the manner and within the time specified, is just cause for annulment of the Award or Conditional Award and for the exclusion of the Bidder from bidding on subsequent projects for such period as the Department may deem appropriate.
The Department reserves the right to cancel an Award or Conditional Award at any time before the execution of said Contract by all parties without incurring any liability of any kind.