Advance Payment: Sealed Bid Auction Sample Clauses

Advance Payment: Sealed Bid Auction. 2.1.1.1. The Purchaser shall submit one (1), three hundred ($300.00) dollar bank certified check, personal check, or money order as a “bid guarantee” and it must be included with the sealed bid form. One (1) bid guarantee check will cover all tract bids for that day and will be returned within five (5) working days if none of the bids are successful. For a successful bidder, the bid guarantee will be applied to the advance payment on the first tract awarded. This payment acknowledges agreement to the Timber Sale Contract conditions for any tracts on which they are the successful bidder. Successful bidders will have fifteen (15) days to submit the remainder of the balance for the down payment which is fifteen (15%) percent of the “bid-up” value. Failure to do so will result in rejection of bid, loss of bidding privileges for one (1) regularly scheduled auction, and loss of the “bid guarantee”.
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Related to Advance Payment: Sealed Bid Auction

  • National Competitive Bidding Goods estimated to cost less than $250,000 equivalent per contract and works estimated to cost less than $500,000 equivalent per contract, may be procured under contracts awarded on the basis of National Competitive Bidding.

  • RESERVE PRICE AND BIDDING AT AUCTION CONDITIONS OF SALE

  • Competitive Bidding 3.5.2.1 Bidding Documents shall consist of bidding requirements and proposed Contract Documents.

  • BFR (Bona Fide Request) The process described in the Network Element Attachment that prescribes the terms and conditions relating to a Party's request that the other Party provide a UNE that it is not otherwise required to provide under the terms of this Agreement.

  • HOW TO BID 3.1. E-Bidders may browse through the EHSAN AUCTIONEERS SDN. BHD. website and select the properties they wish to bid & click VIEW DETAIL to see more.

  • International Competitive Bidding Except as otherwise provided in paragraph 2 below, goods and works shall be procured under contracts awarded on the basis of International Competitive Bidding.

  • AFTER AUCTION 6.1 Any successful E-bidders shall and undertake to sign the contract of sale and pay the additional 10% for the difference of the purchase price within two (2) working days to ESZAM AUCTIONEER SDN BHD bank account or prepare a bank draft. In the event that the successful E-bidder fail to pay additional deposit, the Bank will forfeit the deposit and the sale will be deemed cancelled/terminated and the property may be put up for subsequent auction without further notice to the said E-bidders.

  • E-AUCTIONS 4.1 The Contracting Body shall be entitled to formulate its Statement of Requirements in accordance with paragraph 3 above and invite the Supplier to a further competition using a reverse auction in accordance with the rules laid down by the Contracting Body in accordance with the Regulations prior to the commencement of any such further competition.

  • Bidding Amount 8.1. The Auctioneer shall have discretion to determine the increase of bidding rate based on the total number of Registered E-Bidders and value of the property auctioned.

  • BID ACCEPTANCE PERIOD A bid shall constitute an irrevocable offer for a period of ninety (90) days from the bid opening date or until the date of award. In the event that an award is not made by the County within ninety (90) days from the bid opening date, the Bidder may withdraw their bid or provide a written extension of their bid.

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