Examples of Bid guarantee in a sentence
Forfeiture of earnest Money/ Bid Guarantee: Earnest money/bid guarantee guarantee shall be forfeited incase of following: ⮚ If during the period of validity, the bidder withdraws/modifies its bid as a whole or in part.⮚ If the bidder deviates from any clarification/confirmation given by him sub-sequent to submission of his bid.In the case of successful bidder, if the bidder fails:⮚ To accept LOI/Order unconditionally and sign contract.⮚ To furnish contract performance bond as per enclosed profoma.
Bid Guarantee (Earnest Money Deposit) in physical form should be placed and submitted in a separate sealed cover duly super-scribed “BID GUARANTEE FOR Empanelment of advertising agency “and submitted in the Administrative Office of the Punjab Engineering College (Deemed to be University), Chandigarh on the specified date.
In case the Contract is to be signed beyond the stipulated time, the Bid Guarantee submitted with the Proposal will have to be extended accordingly.
Until Supplier shall have issued the Performance and Warranty Guarantee as per the above, ISR will retain the Bid Guarantee and may consider the Bid Guarantee as the Performance and Warranty Guarantee (or part thereof) for any and all purposes.
The tenderer(s) should submit their tender in three parts i.e. (i) Bid Guarantee (Earnest Money Deposit) (ii) Technical Bid (iii) Price Bid.