Common use of Tender Security Clause in Contracts

Tender Security. The tenderer shall furnish, as part of its tender, a tender security for the amount specified in the Appendix to Invitation to Tenderers. The tender security shall be in the amount of 0.5 – 2 per cent of the tender price.

Tender Security. The tenderer shall furnish, as part of its tender, a tender security for the amount and form specified in the Appendix to Invitation to Tendererstender. The tender security shall be in the amount of 0.5 – not exceeding 2 per cent of the tender price.