Tender Guarantee definition

Tender Guarantee a customary standby letter of credit or bank guarantee or surety issued by a Foreign Issuing Lender in favor of (actual or prospective) counterparties of the Parent Borrower or any of its Subsidiaries for the purpose of securing the obligations assumed under any tender, for construction work or other services.
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Tender Guarantee a customary standby letter of credit or bank guarantee or surety issued by an FCI Issuing Lender (with respect to FCIs) or an Issuing Lender (with respect to the Non-Financial Letters of Credit), in each case in favor of (actual or prospective) counterparties of the Parent Borrower or any of its Restricted Subsidiaries or any of its Joint Ventures for the purpose of securing the obligations assumed under any tender, for construction work or other services.
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Tender Guarantee means a bank guarantee, Government bond or securities recognized by the Government, provided to customer by tender participant prior to or during tender selection, or in the case of being selected, as a guarantee of concluding a contract;
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Examples of Tender Guarantee in a sentence

  • Failure to execute a Contract and file an Acceptable Bond as provided herein shall be just cause for the annulment of the award and the forfeiture of the Tender Guarantee to the Committee, not as a penalty, but in liquidation of damages sustained.

  • The Tender Guarantee of the successful Tenderer must be maintained for a further 30 days from the date of notification of award.

  • All tenders must be accompanied by a Tender Guarantee of minimum <1%> of the total tender amount.

  • Delete the 2nd, 3rd and 4th Paragraphs from the original Clause and replace with the following: Unless otherwise stated, the Contractor shall deliver the Performance Security to the Employer within (14) days from the date of receiving the "Letter of Acceptance " and shall send a copy of the Security to the Engineer, otherwise the Contractor shall be considered withdrawing his Bid and the Employer shall be entitled to forfeit the Tender Guarantee previously submitted by the Contractor.

  • If the successful Tenderer fails to sign and return the Agreement (Option: and the Performance Guarantee) within the days stipulated, the Contracting Authority may consider the acceptance of the Tender to be cancelled without prejudice to the Contracting Authority's right to (Option: seize the Tender Guarantee), claim compensation or pursue any other remedy in respect of such failure, and the successful Tenderer will have no claim whatsoever on the Contracting Authority.

  • A tender guarantee must in full comply with article 15 Tender Guarantee, Section 1 – Instructions to Tenderers, Volume 1 of the Tender Dossier.

  • Question No 1 As requested by the bank, it is neccesary to add descriptions regarding the Tender Guarantee shall be abided by Uniform Rules for Demand Guarantees 758 in the provided Tender Guarantee Form (Volume 1, Section 3), please clarify, many thanks.

  • Evidence of any quality accreditation or ISO Certifications (Option: Performance Guarantee) (Option: Tender Guarantee) (Option: Prepayment Guarantee) <Other relevant documents required> and other relevant information that should be made known to the Contracting Authority.

  • The Tender Guarantee shall be issued in the form of a first demand guarantee, by an internationally recognised bank or other financial institution, and shall be in accordance with the text in the attached guarantee.

  • If the Bidder does not accept the corrected amount, the tender will be rejected and the Tender Guarantee forfeited.


More Definitions of Tender Guarantee

Tender Guarantee means the bond provided by the Tenderer pursuant to Item 3.2 of these Instructions.
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