Examples of Proposal Security in a sentence

Failure of the successful Proposer to comply with the requirement of RFP Clause 35 and this provision shall constitute sufficient grounds for the annulment of the award, and forfeiture of the Proposal Security if any, and on which event, UNDP may award the Contract to the Proposer with the second highest rated Proposal, or call for new Proposals.

More Definitions of Proposal Security

Proposal Security means the security provided by the Selected Bidder to the Authority along with the Bid / Proposal in the sum of INR ………….. (Rupees crore) in accordance with the Instructions to Bidders (ITB) and which is to remain in force until substituted by the Construction Performance Security.

Proposal Security means bid security

Proposal Security bears the meaning ascribed thereto in the Power Purchase Agreement;

Proposal Security means the Proposal Bond or the Proposal Letter(s) of Credit, as applicable.

Proposal Security or "Bid Security" means the unconditional bank guarantee in the amount at the rate of USD 5000 (five thousand) per MW or equivalent BDT issued by a scheduled bank in Bangladesh delivered to BPDB to secure (a) the obligations of the Bidder to maintain its Proposal in effect until the issue of the Letter of Intent and (b) thereafter, the obligations of the Company to furnish Performance Security Deposit and execute and deliver the Project Agreements within thirty (30) Days or any other day notified by the BPDB after the issuance of the Letter of Intent.

Proposal Security means the proposal bond as described in Section 3.3 of Exhibit C-2 to the ITP.

Proposal Security means the proposal bond or letter of credit as described in Section 3.3 of Exhibit B to the ITP. For purposes of clarity, the Proposal Security shall be either a conforming Proposal Bond or conforming Proposal Letter of Credit, but not both.