Bid Deposit definition

Bid Deposit means a financial guarantee to ensure the successful bidder will enter into an agreement.

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Bid Deposit means the form of security required by the terms and conditions of Bid Solicitations to guarantee that the successful Supplier enters into a Contract with the Corporation, as required by Section 26 of this By-law;

Bid Deposit means currencies, certified cheques, bid bond issued by a surety company licensed to operate by the Government of Canada or the Province of Ontario or another form of negotiable instrument acceptable to the City to compensate the City if the successful bidder does not enter into a contract.

Examples of Bid Deposit in a sentence

If Seller fails to materially comply with any of Seller’s obligations under this Paragraph 6 or Seller materially breaches this Contract, and Buyer elects to terminate this Contract as a result of such failure or breach, then the Bid Deposit shall be refunded to Buyer as the sole remedy to Buyer.
If the Property is not in substantially the same or better condition at Closing as on the date of this offer, reasonable wear and tear excepted, Buyer may terminate this Contract by written notice delivered to Seller and the Bid Deposit shall be refunded to Buyer.
If Buyer timely delivers the Termination Notice, this Contract shall be terminated and a portion of the Bid Deposit shall be returned pursuant to Paragraph 1(e).
MINIMUM BID AND ESTIMATED LOG VOLUMES: Agreement # Sort # Species and Sort Specifications Average Log Length Estimated Volume Tons Per MBF Minimum Bid Delivered Prices Total Appraised Value Bid Deposit Mbf Tons $/mbf $/Ton Totals: 632 3349 $234,430.00 CERTIFICATION: This sale is certified under the Sustainable Forestry Initiative® program Standard (cert no: BVC-SFIFM-018227) PAYMENT SECURITY: To be determined by the State as described in Clause P-045.2 of the Purchaser’s Contract.

More Definitions of Bid Deposit

Bid Deposit means the form of security required by the terms and conditions of Bid Solicitations to guarantee that the successful Supplier enters into a Contract with the Corporation.

Bid Deposit means currencies, certified cheques, bond surety issued by a surety company or other form of negotiable instrument to ensure the successful bidder will enter into an agreement;

Bid Deposit means a financial guarantee to ensure that the Successful Bidder will enter into an agreement.

Bid Deposit means bank drafts, certified cheques, money orders, or bond surety issued by a surety company or other form of negotiable instrument to ensure the Successful Bidder will enter into a contract;

Bid Deposit means currency, certified cheque, bank draft, bond surety issued by a surety company, Irrevocable Letter of Credit, or other form of negotiable instrument submitted by a Bidder as evidence of their commitment to enter into an Agreement to do the work outlined in the Bid Solicitation;

Bid Deposit means the refundable bid deposit of €20,000 (twenty thousand euros) paid by an Eligible Bidder to the Agency, in accordance with section 9.2.

Bid Deposit. - means currency, certified cheque, bank draft, bond surety issued by a surety company or other form of negotiable instrument submitted by a bidder as evidence of their commitment to do the work outlined in the Request for Quote or Tender.