Bid Security 15 Sample Clauses

Bid Security 15. 1 Pursuant to ITB clause 9, the bidder shall furnish, as part of its bid, a bid security in the amount specified in the Bid Data Sheet. 15.2 The bid security is required to protect the Purchaser against the risk of bidder’s conduct which would warrant the security’s forfeiture, pursuant to ITB clause 15.7. 15.3 The bid security shall be in Pak Rupees and shall be in one of the following forms: (b) Bank Call Deposit (CDR), Demand Draft (DD), Pay Order (PO) or Banker’s cheque valid for thirty (30) days beyond the validity of bid. 15.4 Any bid not secured in accordance with ITB clauses 15.1 and 15.3 will be rejected by the Purchaser as non-responsive, pursuant to ITB clause 24. 15.5 Unsuccessful bidder bid security will be discharged or returned as promptly as possible but not later than thirty (30) days after the expiration of the period of bid validity prescribed by the Purchaser pursuant to ITB clause 16. 15.6 The successful bidder’ bid security will be discharged upon the bidder signing the contract, pursuant to ITB clauses 32 and furnishing the performance security, pursuant to ITB clause 33. 15.7 The bid security may be forfeited: a) If a bidder withdraws its bid during the period of bid validity specified by the bidder on the Bid Form; or b) In the case of a successful bidder, if the bidder fails: (i) To sign the contract in accordance with ITB clause 32; Or (ii) To furnish performance security in accordance with ITB clause 33.
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Related to Bid Security 15

  • Bid Security 2.1 Bid security, as a guarantee of good faith, in the form of a certified check, cashier's check, or bidder's bond, may be required to be submitted with this bid document, as indicated on the bid.

  • Security Bond The security bond provides protection to Owner if Contractor presents an acceptable guaranteed maximum price (“GMP”) to Owner but is unable to deliver the required payment and performance bonds within the time period stated below.

  • Security Badging Any Company employee, or any employee of its contractors or agents, that require unescorted access to the Security Identification Display Area (SIDA) to perform work under this Agreement will be badged with an Airport identification badge (hereinafter referred to as "Badge") provided by Authority’s ID Badging Department and will be subject to an FBI fingerprint-based criminal history records check (CHRC) and an annual Security Threat Assessment (STA). A new or renewed Badge will not be issued to an individual until the results of the CHRC and the STA are completed and indicate that the applicant has not been convicted of a disqualifying criminal offense. If the CHRC or STA discloses a disqualifying criminal offense, the individual’s new or renewed badge application will be rejected. The costs of the CHRC and the annual STA will be paid by Company. These costs are subject to change without notice, and Company will be responsible for paying any increase in the costs. All badged employees of Company and its contractors or agents will comply with Authority's regulations regarding the use and display of Badges. Company will be assessed a fine for each Badge that is lost, stolen, unaccounted for or not returned to Authority at the time of Badge expiration, employee termination, termination of the Agreement, or upon written request by Authority. This fine will be paid by Company within 15 days from the date of invoice. The fine is subject to change without notice, and Company will be responsible for paying any increase in the fine. If any Company employee is terminated or leaves Company’s employment, Authority must be notified immediately, and the Badge must be returned to Authority promptly.

  • E7 Security E7.1 The Authority shall be responsible for maintaining the security of the Authority’s Premises in accordance with its standard security requirements. The Contractor shall comply with all security requirements of the Authority while on the Authority’s Premises, and shall ensure that all Staff comply with such requirements.

  • Application Security The ISP will require that in-house application development be governed by a documented secure software development life cycle methodology, which will include deployment rules for new applications and changes to existing applications in live production environments.

  • Bid and Performance Security The Contractor hereby and herewith deposits with and delivers to the Minister, as security of the due fulfilment of the Contract, one of the following, which shall remain in effect for a minimum of 30 days after tender closing:

  • UNION SECURITY AND CHECK-OFF 5.01 All present seniority employees who are currently members of the Union will be required to continue to be members of the Union as a condition of employment for the duration of this Agreement.

  • Credit Union Lien and Security Interest To the extent you owe the Credit Union money as a borrower, guarantor, indorser or otherwise, the Credit Union has a lien on any or all of the funds in any account in which you have an ownership interest at the Credit Union, regardless of the source of the funds. The Credit Union may apply these funds in any order to pay off your indebtedness without further notice to you. If the Credit Union chooses not to enforce its lien, the Credit Union does not waive its right to enforce the lien at a later time. In addition, you grant the Credit Union a consensual security interest in your accounts and agree the Credit Union may use the funds from your accounts to pay any debt or amount owed the Credit Union, except obligations secured by your dwelling, unless prohibited by applicable law. All accounts are nonassignable and nontransferable to third parties.

  • Contractor Security Clearance Customers may designate certain duties and/or positions as positions of “special trust” because they involve special trust responsibilities, are located in sensitive locations, or have key capabilities with access to sensitive or confidential information. The designation of a special trust position or duties is at the sole discretion of the Customer. Contractor or Contractor’s employees and Staff who, in the performance of this Contract, will be assigned to work in positions determined by the Customer to be positions of special trust, may be required to submit to background screening and be approved by the Customer to work on this Contract.

  • UNION SECURITY AND CHECKOFF 5:01 It shall be a condition of continued employment for all employees including probationary employees, as defined in Article 2, to become members and maintain membership in good standing in the Union.

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