Performance Security definition

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.

Performance Security means monetary amount or financial guarantee to be furnished by the successful bidder for due performance of the contract placed on it. Performance Security is also known as Security Deposit.

Performance Security means the security (or securities, if any) under Sub-Clause 4.2 [Performance Security].

Examples of Performance Security in a sentence

• The letter of award shall request the successful tenderer to furnish the Performance Security within 21 days of the date of the letter.

• If the Performance Security furnished by the successful Tenderer is in the form of a bond, it shall be issued by a bonding or insurance company that has been determined by the successful Tendererto be acceptable to the Procuring Entity.

• Within twenty-one (21) days of the receipt of the Form of Acceptance from the Procuring Entity, the successful Tenderer, if required, shall furnish the Performance Security in accordance with the GCC 3.9, using for that purpose the Performance Security Form included in Section VIII, Contract Forms, or another Form acceptable to the Procuring Entity.

• The Service Provider shall provide the Performance Security to the Procuring Entity no later than the date specified in the Form of acceptance.

• You are requested to furnish the Performance Security within 30 days in accordance with the Conditions of Contract, using for that purpose the of the Performance Security Form included in Section X, Contract Forms, of the Tendering document.

More Definitions of Performance Security

Performance Security means monetary or financial guarantee to be furnished by the successful bidder for due performance of the contract placed on it.

Performance Security and “Additional Performance Security” shall have the meaning set forth in Clause 7.1;

Performance Security means the irrevocable and unconditional bank guarantee provided by the Consultant from a scheduled Indian bank as guarantee for the performance of its obligations in respect of the Contract;

Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.3 of this RFP Document

Performance Security shall have the meaning set forth in Clause 4.4;

Performance Security means the Demand Draft submitted to the Authority by the Developer for due performance of its obligations under this Agreement, in accordance with Clause 5.1.

Performance Security means the security to be provided by the Service Provider in pursuant with corresponding clause for the due performance of the contract.