Bid Guarantee Sample Clauses

Bid Guarantee. The Contractor shall post a bid guarantee bond of 5 percent of the bid price as assurance that the bidder will, upon acceptance of his or her bid, execute such contractual documents as may be required within the time specified in the bid documents. (Applicable to contracts over $10,000.)

Bid Guarantee. The bid must be accompanied by a bid security which shall not be less than five percent (5%) of the amount of the bid, and at the option of the bidder may be certified check, bank draft, U.S. Government Bonds (at par value) or a bid bond in the form attached to the Bid Form. No bid will be considered unless it is so guaranteed. Certified Check or bank draft must be made payable to the order of the WCPS. Cash deposits will not be accepted. The bid guarantee shall insure the execution of the contract and the furnishing of performance and payment bonds by the successful bidder as specified in the Contract Documents. In case Bid Guarantee is in the form of a certified check, bank draft, or U.S. Government Bonds, the WCPS may make such disposition of the same as submitted. Certified check or bank drafts or the amount thereof and U.S. Government Bonds of the unsuccessful bidders will be returned as soon as practicable after opening of bids.

Bid Guarantee. The deposit i.e. bid guarantee amount shall be returned to the Seller within 3 business days of receipt of the Bank Guarantee for Timely and Quality Execution of the IC or the ERC approval, in compliance with Article 11 of the Rules of Electricity Procurement for the Requirements of the US, adopted by the ERC. If the Seller fails to conclude an IC within 5 work days of IC submission at the latest, the deposit shall not be returned, i.e. the bid guarantee shall be released.

Bid Guarantee. (1) When required, a Bid Guarantee in the proper amount and in the proper form must accompany the proposal. No bid will be considered unless it is so guaranteed. Cashier’s check, certified check or money order must be made payable to the order of the Owner. Cash deposits will not be accepted. The Owner reserves the right to cash or deposit the cashier’s check, certified check or money order. (2) The amount of the bid guarantee shall be not less than five (5%) percent of the amount of the bid, including any alternates, and at the option of the bidder may be a cashier’s check, certified check, money order or a satisfactory bid bond attached to the bid form, unless, a project, funded in whole or in part by State and/or Federal Funds, is governed by State and/or Federal Regulations or Laws which require a bid guarantee in a different amount, in which event the State and/or Federal Regulations or Laws shall take precedence. (3) Bid Guarantees of the three lowest bidders will be retained by the Owner until the Contract is executed or until final disposition is made of the bids submitted. Bid Guarantees of all other bidders will be returned within ten (10) days after the canvass of bids. (4) Bids shall remain binding for at least forty-five (45) days after the date set for Bid Opening. In the event the Owner issues the Letter of Award during this period, the bid accepted shall continue to remain binding until the Execution of Contract. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ and the lowest responsible bidder, by mutual written consent, may agree to extend the deadline for award by one or more extensions of thirty (30) calendar days. (5) The successful bidder, upon his failure or refusal to execute Contract with Owner and deliver performance and payment bonds and any other required submittal within a period of ten (10) calendar days after original date of Owner’s Letter of Award, as defined in the General Specifications, shall forfeit to Owner, as liquidated damages for such failure or refusal, the security deposited with his bid. (6) To the extent permitted by law, the Bond requirements as set forth herein are waived insofar as Community Development housing rehabilitation construction contracts are concerned for single family, owner-occupied dwellings. The Parish Attorney’s office will omit the requirements in connection with Community Development housing rehabilitation construction contracts for single family, owner-occupied dwellings.

Bid Guarantee. Each bid shall, as a guarantee of good faith on the part of the bidder, be accompanied by Bid Guarantee in an amount of not less than five percent (5%) of the total bid. Bid bonds and cashier's checks which have an expiration date of less than one year are not acceptable. Bid Guarantee shall be forfeited as liquidated damages if the bidder, upon award to him/her, fails to enter into contract within 30 days following award. IB-2

Bid Guarantee. The Bid must be accompanied by a Bid Guarantee in the form of cash, a certified check, a cashier’s check, or a bidder’s bond. The Bid Guarantee must be executed by an admitted surety insurer in favor of the Agency, the amount of which must be not less than 10 percent of the Base Bid amount, or other security acceptable to the Agency. Bids not accompanied by a Bid Guarantee will be rejected. The Agency is authorized to forfeit sums of the Bid Guarantee as specified in Section 3-8 of these Specifications.

Bid Guarantee. At the submission of the bid, the Contractor shall furnish a "bid" guarantee equivalent to ten percent of the bid price. The “bid guarantee” must consistof a firm commitment such as a bid bond, certified check, or other negotiable instrument accompanying a bid as assurance that the bidder will, upon acceptance of the bid, execute such contractual documents as may be required within the time specified.