Proposal Guarantee definition

Proposal Guarantee means the Proposal bond, cashier's check or certified check submitted as part of the Proposal, payable to the contracting unit, ensuring that the successful Proposer will enter into a contract.
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Proposal Guarantee means security provided by a Proposer to the Airport Authority with a Proposal to guarantee that the Proposer will enter into a contract with the Airport Authority within the time specified in the RFP, based upon the substantive terms and conditions contained in the form of contract included in the RFP.
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Proposal Guarantee means the security to be furnished by the Bidder as a guarantee of good faith that it will enter into a Contract and execute the required Bonds covering the Work if awarded the Contract.
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Examples of Proposal Guarantee in a sentence

  • Proposal Guarantee: See “Security Instructions” section of this bid in bids&tenders™ for Bid Security requirements.

  • It shall be understood by the Bidder that, in the event of annulment of the award, the amount of the Proposal Guarantee deposited with the Proposal shall be retained by the City, not as a penalty, but as liquidated damages.

  • Each Offer Proposal must be accompanied by an original Proposal Guarantee issued by a corporate surety company licensed to conduct business in the State of Texas, in the amount of not less than five percent (5%) of the greatest total amount of Proposal.

  • If a check is offered as guaranty, the check must be in the Department’s possession by 10:00 A.M. the day of the bid opening and must be attached to the signed Proposal Guarantee form, which is a vailable for printing on the Construction Division’s website.

  • NOTE: If a check is offered as the bid guaranty, the check and the executed Proposal Guarantee must be received by the Department with the bid package.

  • Proposal Guarantee A guarantee granted by the Buyer on the terms of the Public Notice for an amount corresponding to ten percent (10%) of the Minimum Price (as defined in the Public Notice), a copy of which guarantee is a constituent part of this Agreement as EXHIBIT B.

  • If a check is offered as guaranty, the check must be included in the bid package and must be attached to the signed Proposal Guarantee form.


More Definitions of Proposal Guarantee

Proposal Guarantee means a bond or other instrument of security furnished by the PROPOSER/CONTRACTOR to provide assurance that the PROPOSER/CONTRACTOR will execute the Contract Form.
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Proposal Guarantee means the security designated in the Proposal to be furnished by the Bidder as a guarantee of good faith to enter into a contract with the City if the Work is awarded to the Bidder.
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