Tender Security definition

Tender Security means the security required to be submitted by the Tenderer with its Tender Offer.

Tender Security means the security required to be submitted by each Tenderer with their Tender Offer;

Tender Security means a security provided to the procuring entity to secure the fulfilment of any obligation referred to in article 32 (1) (f) and includes such arrangements as bank guarantees, surety bonds, stand-by letters of credit, cheques on which a bank is primarily liable, cash deposits, promissory notes and bills of exchange;

Examples of Tender Security in a sentence

• A Tenderer may refuse the request without forfeiting its Tender Security.

• If a Tender Security is requested in accordance with ITT 21.1, it shall also be extended for thirty (30) days beyond the deadline of the extended validity period.

• If the JV has not been legally constituted into a legally enforceable JV at the time of tendering, the Tender Security or the Tender-Securing Declaration shall be in the names of all future members as named in the letter of intent referred to in ITT 4.1 and ITT 11.2. 21.10 A tenderer shall not issue a tender security to guarantee itself.

• We take this opportunity to remind you to again note and strictly comply with the provisions as regards the Tender Security, Signing of Contract and Performance Security as stated in the Instructions to Tenderers.We look forward to a cordial and mutually beneficial business relationship.

• If a Tender Security is requested in accordance with ITT 18, it shall also be extended for a corresponding period.

More Definitions of Tender Security

Tender Security means a guarantee required from tenderers by the procuring entity and provided to the procuring entity to secure the fulfillment of any obligation in the tender process and includes such arrangements as bank or insurance guarantees, surety bonds, standby letters of credit, cheques for which a bank is primarily liable, cash deposits, promissory notes and bills of exchange tender securing declaration, or other guarantees from institutions as may be prescribed;

Tender Security means the form of security required to be submitted by each Tenderer with their Tender Offer as detailed in the Tender Particulars and these Instructions to Tenderers;

Tender Security means a security required from suppliers or contractors by a procuring entity and provided to a procuring entity to secure the fulfilment of an obligation and includes such arrangements as bank guarantees, indemnities, surety bonds, standby letters of credit, cheques for which a bank is primarily liable, cash deposits, promissory notes, bills of exchange and other like instruments;

Tender Security has the meaning set forth in Section 10.3 hereof.

Tender Security means securing the fulfilment of the tenderer’s obligations to the contracting authority resulting from the submission of the tender, which takes the form of a guarantee;

Tender Security means a security required from suppliers or contractors by the procuring entity and provided to the procuring entity to secure the fulfilment of any obligation referred to in article 17 (1) (f) of this Law and includes such arrangements as bank guarantees, surety bonds, standby letters of credit, cheques on which a bank is primarily liable, cash deposits, promissory notes and bills of exchange. For the avoidance of doubt, the term excludes any security for the performance of the contract.

Tender Security means a guarantee or bond from a tenderer’s bank or an insurance company which should be provided by the tenderer as part of its bid with the aim of protecting the procuring entity against the risk of tenderer’s conduct during the tender period which would warrant the security’s forfeiture or otherwise returned to the tenderer after tender process.