Bid Bond definition

Bid Bond means the unconditional and irrevocable bank guarantee to be submitted along with the Bid by the Bidder under Clause 3.14 of this RFS, in the prescribed Format- 3.

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Bid Bond means the financial security for the bid, in the shape of demand draft in the name of USF Co., which an Applicant must furnish to USF Co. in accordance with section 39 of this RFA;

Bid Bond means an insurance agreement in which a third party agrees to be liable to pay a certain amount of money in the event that a specific bidder, if his bid is accepted, failed to accept the contract as bid.

Examples of Bid Bond in a sentence

MBE Good Faith Effort Program Affidavits A, B, C 4 ....................Local Vendor Recognition Affidavit 1 ....................Bid Bond 1 ....................Certificate of Guarantee 1 ....................Performance Bond 2 ....................Payment Bond 2 ....................
Bids shall be accompanied by Bidder’s certified check, cashiers check or Bid Bond in the amount of five percent (5%) of the Bid Price.
The Bid Bond shall insure the City of New York to the extent of not less than 10% of the amount of the Bid Contract Price.
If the Bidder fails to enter into a contract with the City on the terms stated in his Bid, or fails to furnish a performance bond as required by the Contract Documents, the amount of the Bid Bond shall be forfeited to the City as liquidated damages, not as a penalty.
The Bid Bond of all Bidders to whom an award is not being considered shall be returned promptly after the bid opening.

More Definitions of Bid Bond

Bid Bond means the unconditional and irrevocable bank guarantee for Rupees Twenty Eight Crore Only (Rs. 28 Crore), to be submitted along with the Technical Bid by the Bidder under Clause 2.11 of this RFP, as per the format prescribed in Annexure 14;

Bid Bond means a bond given to the Township to guarantee entry into a contract. This bond is given to indemnify the Township against increased costs if the bidder does not carry out the specified undertaking to enter into a contract;

Bid Bond means the financial security for the bid, including any pay order or demand draft in the name of USFCo, that an Applicant must furnish to USFCo in accordance with section 39 of this RFA;

Bid Bond means the cash security to be lodged by an Applicant in respect of an Application for Qualification in accordance with these Terms and Conditions.

Bid Bond means an insurance agreement in which a third party agrees to be liable to pay a certain amount of money in the event a specific bidder fails to accept the contract as bid.

Bid Bond means the unconditional and irrevocable bank guarantee to be submitted along with the Bid by the Bidder under Clause 2.11 of this NIT, as per the prescribed Format 4.6;

Bid Bond means a bond conditioned upon the bidder on a contract entering into the contract, and furnishing the required payment and performance bonds.