Bid Guaranty definition

Bid Guaranty means a bid bond or other instrument of security authorized by ORC Section 153.54 submitted with the Bid to provide assurance that the Bidder will execute the Agreement.
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Bid Guaranty. A cashiers or certified check in the amount of five (5%) percent of the total bid, payable to the San Antonio River Authority, or an acceptable bid bond for the same, as a guarantee that the bidder will enter into a contract and furnish all required bonds within a specific time. Bonds: Bid, performance, payment and maintenance bonds and other instruments of security.
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Bid Guaranty means all the guaranties issued for the purpose to participate in the bid (bid insurance).
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Examples of Bid Guaranty in a sentence

  • Failure to file the acceptable Bonds or Insurance Certificates within the prescribed time shall be just cause for the forfeiture of the Bid Guaranty and may constitute a material breach of this Contract.

  • Most of the contractor, surety, and surety agent information will be included on the Bid Form and Bid Guaranty documents.

  • Surety A Person providing a Bid Guaranty or a Bond to a Bidder or a Contractor, as applicable, to indemnify the State against all direct and consequential damages suffered by failure of the Bidder to execute the Contract, or of the Contractor to perform the Contract and to pay all lawful claims of Subcontractors, Material Suppliers and laborers, as applicable.

  • Failure of the bidder to whom the Contract is awarded to execute the Agreement and file acceptable bonds shall be just cause for the forfeiture of the Bid Guaranty and may constitute a material breach of this Contract.

  • The Bid Guaranty shall be in the form of a bond in the sum of 10 percent (10%) of the amount of the bid, or a certified check, cashier's check, or letter of credit payable to the Owner in the sum of ten percent (10%) of the total amount of the bid.

  • The successful Bidder’s Bid Guaranty will be returned as soon as the Airport Authority receives the contract bonds as specified in the subsection titled REQUIREMENTS OF CONTRACT BONDS AND INSURANCE of this section.

  • In order to be acceptable to the County, a Surety Company issuing Evidence of Bond ability, Bid Guaranty Bonds or 100% Public Payment and Performance Bonds or Letters of Credit called for herein shall meet and comply with the minimum standards set forth in as part of the Contract Documents.

  • The Notice of Preliminary Award letter, if it is mailed within 30 Days of the Bid Opening, shall bind the Lowest Responsible Bidder to Accept the Contract or to reject the Contract and forfeit the Bid Guaranty it has provided.

  • A Bid Guaranty is given as security that, if the Bid is accepted, the Bidder will enter into a contract in conformance with the Bid Documents.

  • The requirement of the Bid Guaranty is to ensure that the Bidder will promptly execute the Contract in accordance with the Advertisement and in the manner and form required by the Contract Documents and that the Bidder will furnish good and sufficient Contract Bonds and required insurance.


More Definitions of Bid Guaranty

Bid Guaranty means the bid bond, certified check or cashier's check submitted as part of the bid proposal, payable to the Borough of Keyport, which shall insure that the successful bidder will enter into the Lease Agreement for the operation of the charter fishing and party boat service.
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Bid Guaranty. Not less than five percent (5%) of the Total Bid Price. Bid Documents Electronic copies of the plans, specifications, reference documents, and any addenda for this solicitation are available on the King County Procurement website shown below. Printed documents may be ordered from United Reprographics at ▇▇▇-▇▇▇-▇▇▇▇. Copies of documents are not available for purchase from King County, but are available for review 8:00 a.m. – 5:00 p.m. M thru F at the Contracts Counter: Chinook Bldg, 3rd Floor, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. C01072C17 page 3 of 3 §00020 Rev. 12/29/2015 Invitation to Bid To receive email notifications of addenda or other important information concerning this solicitation, you must register to be a planholder under the “Solicitations” tab at the following link: ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/procurement_ovr/login.aspx?ReturnUrl=%2fprocurement_o vr%2fdefault.aspx This information is available in alternate formats for individuals with disabilities upon advance request by calling ▇▇▇-▇▇▇-▇▇▇▇, TTY Relay: 711. Note: Bids received after Sealed Bid Time will not be considered. Bidders accept all risks of late delivery, regardless of fault. King County is not responsible for any costs incurred in response to this Invitation to Bid. END OF SECTION ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/procurement_ovr/login.aspx?ReturnUrl=%2fprocurement_ovr%2fdefault.aspx ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇/procurement_ovr/login.aspx?ReturnUrl=%2fprocurement_ovr%2fdefault.aspx C01072C17 page i of i §00100 Rev 05/12/2017 Instructions to Bidders SECTION 00100 INSTRUCTIONS TO BIDDERS
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Related to Bid Guaranty

  • Bid guarantee means the bid bond, cashier's check or certified check submitted as part of the bid proposal, payable to the contracting unit, ensuring that the successful bidder will enter into a contract.

  • Limited Guaranty With respect to any Series (or Class within such Series), any guarantee of, or insurance policy or other comparable form of credit enhancement with respect to, amounts required to be distributed in respect of such Series (or Class) or payments under all or certain of the Underlying Securities relating to such Series or Class, executed and delivered by a Limited Guarantor in favor of the Trustee, for the benefit of the Certificateholders, as specified in the related Supplement.

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • Guaranty Agreement means an agreement executed by the Guarantors in substantially the form of Exhibit F-2 unconditionally guarantying on a joint and several basis, payment of the Indebtedness, as the same may be amended, modified or supplemented from time to time.

  • Holdings Guaranty means the Holdings Guaranty made by Holdings in favor of the Administrative Agent on behalf of the Secured Parties, substantially in the form of Exhibit F-1.