Performance Guarantee/ Performance Security definition

Performance Guarantee/ Performance Security has the meaning given to it in Schedule G;
Sample 1Sample 2Sample 3

Examples of Performance Guarantee/ Performance Security in a sentence

  • The Bid Security of successful bidder will be returned on receipt of Bank Guarantee towards Performance Guarantee (Performance Security).

  • Successful bidder(s) is to furnish Security Deposit cum Performance Guarantee (Performance Security) as below- The rate of security deposit (performance security) as per the prevailing terms and condition of the Company is @ 5% of total estimated order value.

  • As soon as practicable after a notice for termination under Clause 16.4 has taken effect, the Authority shall immediately return the Advance Guarantee/ Performance Guarantee/ Performance Security, as the case may be, provided by the Contractor and shall proceed to determine the balance amount of the Contract Price not already paid to the Contractor.

  • However, Performance Guarantee (Performance Security) of the Service Provider will stand forfeited.

  • The Tender Inviting Authority shall be at liberty to deduct/ appropriate from the Contract Performance Guarantee/ Performance Security Deposit such sums as are due and payable by the contractor to the Employer as may be determined in terms of the contract, and the amount appropriated from the Performance Guarantee/ Performance Security Deposit shall have to be restored by Contractor subsequently.

  • As soon as practicable after a notice for termination under Clause 16.3 has taken effect, the Authority shall immediately return the Advance Guarantee/ Performance Guarantee/ Performance Security, as the case may be, provided by the Contractor and shall proceed to determine the balance amount of the Contract Price not already paid to the Contractor.

  • Failure of the successful SS Provider to comply with the requirement of the terms and conditions of the Performance Guarantee/ Performance Security shall constitute sufficient grounds for the annulment of the contract and forfeiture of the Bid Security, in which event the IDBI Bank may award the contract to the other evaluated successful SS Provider or may call for new bids.

  • Performance Guarantee: Performance Security for an amount of 5% of the order value may be furnished in the form of an Account payee Demand Draft, Fixed Deposit Receipt from a Commercial bank or Bank Guarantee from a Commercial bank in an acceptable form by the successful bidder.

  • Upon acceptance of the tender, the successful tenderer shall within 15 days of receipt of intimation of acceptance of the tender, deposit with the KIAL a Performance Guarantee (Performance Security) of 5% of contract sum minus EMD.

  • The successful tenderer will be asked to provide a Performance Guarantee (Performance Security – Demand Guarantee) of 10% of the amount of the contract at the signing of the contract.

Related to Performance Guarantee/ Performance Security

  • Performance Security means monetary guarantee to be furnished by the successful Tenderer for due performance of the contract placed on it. Performance Security is also known as Security Deposit or Performance Bank Guarantee.

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Performance Guarantees means specific measurement indicators assigned to Contract tasks representing timeliness and quality of task output.

  • energy performance contracting means a contractual arrangement between the beneficiary and the provider of an energy efficiency improvement measure, verified and monitored during the whole term of the contract, where investments (work, supply or service) in that measure are paid for in relation to a contractually agreed level of energy efficiency improvement or other agreed energy performance criterion, such as financial savings;

  • Performance Guaranty means the Performance Guaranty, dated as of the Closing Date, entered into by Performance Guarantor in favor of Administrative Agent.

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • Interest Free Security Deposit/ Performance Security means interest free amount to be deposited by the Licensee with NMRC as per terms and conditions of License Agreement as a security against the performance of the License Agreement.

  • Capacity Performance Resource means a Capacity Resource as described in Tariff, Attachment DD, section 5.5A(a).

  • Energy savings performance contract means a public contract between a contracting agency and a qualified energy service company for the identification, evaluation, recommendation, design and construction of energy conservation measures, including a design-build contract, that guarantee energy savings or performance.

  • Performance and Guarantee Test means all operational checks and tests required to determine and demonstrate capacity, efficiency and operating characteristics as specified in the Contract Documents.

  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • Performance Assurance means collateral in the form of cash, letters of credit, or other security acceptable to the requesting Party.

  • Performance Agreement means an agreement between an HSP and its CEO that requires the CEO to perform in a manner that enables the HSP to achieve the terms of this Agreement and any additional performance improvement targets set out in the HSP’s annual quality improvement plan under the Excellent Care for All Act, 2010;

  • Guaranteed energy savings contract means a contract that includes all of the following:

  • Performance Data means a rating, ranking, quotation, discussion or analysis regarding an aspect of the investment performance of an investment fund, an asset allocation service, a security, an index or a benchmark;

  • Performance and Guarantee Tests , shall mean all operational checks and tests required to determine and demonstrate capacity, efficiency, and operating characteristics as specified in the Contract Documents.

  • Performance Bank Guarantee/ Security Deposit means interest free amount to be deposited by the Contractor with NMRC as per terms and conditions of Contract Agreement as a security against the performance of the Contract agreement

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • performance requirement means a requirement that:

  • Performance Contract means the annual agreement negotiated and entered into by a community

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.