Common use of Bid Security Clause in Contracts

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, a Bid security of Rs 20,000 for this particular work. This bid security shall be in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft in favour of Society of Integrated Coastal Management, payable at New Delhi. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 Any bid not accompanied by an acceptable Bid Security and not secured as above shall be rejected by the Purchaser as non-responsive. 7.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amount. 7.6 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, 4.1 All Bids must be accompanied by a Bid security Security of Rs 20,000 the amount of Rs. 18,000/- (Rupees Sixteen Thousand only) drawn in favour of Society of Integrated Coastal Management which shall remain valid for this particular work. 45 days beyond the validity of the bid. 4.2 This bid security shall be in favor favour of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank A Bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft or FD or Letter of Credit in favour of Society of Integrated Coastal Management, payable at New Delhi.. Format for Bank Guarantee for Bid security is attached at Annexure -V. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 4.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in Sub- Clauses 4.1 & 4.2 above shall be rejected by the Purchaser Employer as non-responsive. 7.4 4.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 period or date of receipt of Performance Bank Guarantee from successful bidder, whichever is earlier. The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 4.5 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, 4.1 All Bids must be accompanied by a Bid security Security of Rs 20,000 the amount of Rs. 20,000/- (Rupees Twenty Thousand only) drawn in favour of Society of Integrated Coastal Management which shall remain valid for this particular work. 45 days beyond the validity of the bid. 4.2 This bid security shall be in favor favour of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank A Bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft or FD or Letter of Credit in favour of Society of Integrated Coastal Management, payable at New Delhi.. Format for Bank Guarantee for Bid security is attached at Annexure -V. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 4.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in Sub-Clauses 4.1 & 4.2 above shall be rejected by the Purchaser Employer as non-responsive. 7.4 4.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 period or date of receipt of Performance Bank Guarantee from successful bidder, whichever is earlier. The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 4.5 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 19.1 The Bidder shall furnish, as part of his its Bid, a Bid security of Rs 20,000 for this particular work. This bid security Security in 19.2 The Bid Security shall be be, at the Bidder’s option, a demand guarantee in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one any of the following forms: - a bank forms at the Bidder’s option: (a) an unconditional guarantee issued by a nationalized / scheduled bank or non-bank financial institution (such as an insurance, bonding or surety company); (b) an irrevocable letter of credit; (c) a cashier’s or certified check; or (d) another security specified in the BDS from a reputable source. If the unconditional guarantee is issued by a non-bank financial institution located outside the Purchaser’s Country, the issuing financial institution shall have a correspondent financial institution located in Indiathe Purchaser’s Country to make it enforceable. In the case of a bank guarantee, The Bank Guarantee format the Bid Security shall be as per Attachment submitted either using the Bid Security Form included in Section IV, Bidding Forms, or - Certified Cheque or Bank Draft in favour another substantially similar format approved by the Purchaser prior to Bid submission. In either case, the form must include the complete name of Society of Integrated Coastal Management, payable at New Delhi. 7.2 Bank guarantees issued as surety for the bid Bidder. The Bid Security shall be valid for 45 twenty-eight (28) days beyond the original validity period of the bidBid, or beyond any period of extension if requested under ITB 18.2. 7.3 19.3 Any bid Bid not accompanied by an acceptable a substantially responsive Bid Security and not secured as above shall be rejected by the Purchaser as non-responsive. 7.4 19.4 The Bid Security of unsuccessful bidders will Bidders shall be returned within 28 days of as promptly as possible upon the end of successful Bidder’s signing the bid validity periodContract and furnishing the Performance Security pursuant to ITB 42. 7.5 19.5 The Bid Security of the successful bidder will Bidder shall be discharged when returned as promptly as possible once the bidder successful Bidder has signed the Agreement Contract and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 19.6 The Bid Security may be forfeited: (a) if the a Bidder withdraws the its Bid after Bid opening during the period of Bid validity; (b) if validity specified by the Bidder does not accept on the correction Letter of the Bid PriceBid, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, 4.1 All Bids must be accompanied by a Bid security Security of Rs 20,000 the amount of Rs. 1,40,000/- (Rupees One Lakh Forty Thousand only) drawn in favour of Society of Integrated Coastal Management which shall remain valid for this particular work. 45 days beyond the validity of the bid. 4.2 This bid security shall be in favor favour of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank A Bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft or FD or Letter of Credit in favour of Society of Integrated Coastal Management, payable at New Delhi.. Format for Bank Guarantee for Bid security is attached at Annexure -V. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 4.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in Sub- Clauses 4.1 & 4.2 above shall be rejected by the Purchaser Employer as non-responsive. 7.4 4.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 period or date of receipt of Performance Bank Guarantee from successful bidder, whichever is earlier. The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 4.5 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 19.1 The Bidder shall furnish, furnish as part of his its bid, either a Bid- 19.2 A Bid-Securing Declaration shall use the form included in Section IV, Bidding Forms. 19.3 If a Bid bid security of Rs 20,000 for this particular work. This is specified pursuant to ITB 19.1, the bid security shall be a demand guarantee in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one any of the following forms: - a bank forms at the Bidder’s option: (a) an unconditional guarantee issued by a nationalized / scheduled bank or financial institution (such as an insurance, bonding or surety company); (b) an irrevocable letter of credit; (c) a cashier’s or certified check; or (d) another security specified in the BDS, from a reputable source from an eligible country. If the unconditional guarantee is issued by a financial institution located outside the Employer’s Country, the issuing financial institution shall have a correspondent financial institution located in Indiathe Employer’s Country to make it enforceable. In the case of a bank guarantee, The Bank Guarantee format the bid security shall be as per Attachment submitted either using the Bid Security Form included in Section IV, Bidding Forms, or - Certified Cheque or Bank Draft in favour of Society of Integrated Coastal Management, payable at New Delhi. 7.2 Bank guarantees issued as surety for another substantially similar format approved by the Employer prior to bid submission. The bid security shall be valid for 45 twenty-eight (28) days beyond the original validity period of the bid, or beyond any period of extension if requested under ITB 18.2. 7.3 Any 19.4 If a bid security is specified pursuant to ITB 19.1, any bid not accompanied by an acceptable Bid Security and not secured as above a substantially responsive bid security or Bid-Securing Declaration shall be rejected by the Purchaser Employer as non-non responsive. 7.4 The Bid Security 19.5 If a bid security is specified pursuant to ITB 19.1, the bid security of unsuccessful bidders will Bidders shall be returned within 28 days of as promptly as possible upon the end of successful Bidder’ssigning the bid validity periodContract and furnishing the performance security pursuant to ITB 42. 7.5 19.6 The Bid Security bid security of the successful bidder will Bidder shall be discharged when returned as promptly as possible once the bidder successful Bidder has signed the Agreement Contract and furnished the required Performance Security of 5% of the contract amountperformance security. 7.6 19.7 The Bid Security bid security may be forfeitedforfeited or the Bid-Securing Declaration executed: (a) if the a Bidder withdraws the Bid after Bid opening its bid during the period of Bid validity;bid validity specified by the Bidder on the Letter of Bid, or any extension thereto provided by the Bidder; or (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to to: (i) sign the AgreementContract in accordance with ITB 41; or (ii) furnish the required Performance Securitya performance security in accordance with ITB 42. 7.7 Each bidder 19.8 The bid security or the Bid-Securing Declaration of a JV shall submit only one quotationbe in the name of the JV that submits the bid. If the JV has not been legally constituted into a legally enforceable JV at the time of bidding, the bid security or the Bid-Securing Declaration shall be in the names of all future members as named in the letter of intent referred to in ITB 4.1 and ITB 11.2. 19.9 If a bid security is not required in the BDS pursuant to ITB 19.1, and (a) if a Bidder shall not contact other Bidders withdraws its bid during the period of bid validity specified by the Bidder on the Letter of Bid, or (b) if the successful Bidder fails to sign the Contract in matters relating to this Quotation.accordance with ITB 41; or furnish a

Bid Security. 7.1 12.1 The Bidder shall furnish, as part of his Bid, a Bid security of Rs 20,000 INR 25,000/- (Rupees Twenty Five Thousand only) for this particular work. This bid security shall be in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft or Letter of Credit in favour of Society of Integrated Coastal Management, payable at New Delhi. Cheques will not be accepted. 7.2 12.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 12.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in Sub- Clauses 12.1 and 12.2 above shall be rejected by the Purchaser as non-responsive. 7.4 12.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 12.5 The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 12.6 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 12.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, a Bid security of Rs 20,000 24,000 for this particular work. This bid security shall be in favor of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft in favour of Society of Integrated Coastal Management, payable at New Delhi. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 Any bid not accompanied by an acceptable Bid Security and not secured as above shall be rejected by the Purchaser as non-responsive. 7.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amount. 7.6 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, 4.1 All Bids must be accompanied by a Bid security Security of Rs 20,000 the amount of Rs. 20,000/- (Rupees Twenty Thousand only) drawn in favour of Society of Integrated Coastal Management which shall remain valid for this particular work. 45 days beyond the validity of the bid. 4.2 This bid security shall be in favor favour of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank A Bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft or FD or Letter of Credit in favour of Society of Integrated Coastal Management, payable at New Delhi.. Format for Bank Guarantee for Bid security is attached at Annexure -V. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 4.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in Sub- Clauses 4.1 & 4.2 above shall be rejected by the Purchaser Employer as non-responsive. 7.4 4.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 period or date of receipt of Performance Bank Guarantee from successful bidder, whichever is earlier. The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 4.5 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.

Bid Security. 7.1 The Bidder shall furnish, as part of his Bid, 4.1 All Bids must be accompanied by a Bid security Security of Rs 20,000 the amount of Rs. 18,000/- (Rupees Eighteen Thousand only) drawn in favour of Society of Integrated Coastal Management which shall remain valid for this particular work. 45 days beyond the validity of the bid. 4.2 This bid security shall be in favor favour of Society of Integrated Coastal Management, payable at New Delhi and may be in one of the following forms: - a bank A Bank guarantee issued by a nationalized / scheduled bank located in India, The Bank Guarantee format shall be as per Attachment or - Certified Cheque or Bank Draft or FD or Letter of Credit in favour of Society of Integrated Coastal Management, payable at New Delhi.. Format for Bank Guarantee for Bid security is attached at Annexure -V. 7.2 Bank guarantees issued as surety for the bid shall be valid for 45 days beyond the validity of the bid. 7.3 4.3 Any bid not accompanied by an acceptable Bid Security and not secured as indicated in Sub- Clauses 4.1 & 4.2 above shall be rejected by the Purchaser Employer as non-responsive. 7.4 4.4 The Bid Security of unsuccessful bidders will be returned within 28 days of the end of the bid validity period. 7.5 period or date of receipt of Performance Bank Guarantee from successful bidder, whichever is earlier. The Bid Security of the successful bidder will be discharged when the bidder has signed the Agreement and furnished the required Performance Security of 5% of the contract amountSecurity. 7.6 4.5 The Bid Security may be forfeited (a) if the Bidder withdraws the Bid after Bid opening during the period of Bid validity; (b) if the Bidder does not accept the correction of the Bid Price, or (c) in the case of a successful Bidder, if the Bidder fails within the specified time limit to (i) sign the Agreement; or (ii) furnish the required Performance Security. 7.7 Each bidder shall submit only one quotation. Bidder shall not contact other Bidders in matters relating to this Quotation.