Additional Performance Security definition

Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document
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Additional Performance Security shall have the meaning set forth in Clause 7.1;
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Additional Performance Security means a Bank Guarantee for an amount as defined in Article 9.4 of Concession Agreement; submitted by the Concessionaire towards fulfilment of its obligation for on-boarding an Operating Partner for the operations and maintenance of the Convention Centre / Hotel during the Operator Lock-in Period.} 3
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Examples of Additional Performance Security in a sentence

  • Necessary provisions regarding deductions of Security Deposit from the progressive bills of the Contractor as per relevant clauses of the contract will in no way be affected/ altered by this Additional Performance Security.

  • If the bidder fails to complete the work successfully, the Additional Performance Security shall be forfeited at any time during the pendency of the contract period after serving proper notice to the contractor.

  • The Additional Performance Security shall have to be submitted by the selected L1 bidder after issuance of Letter of Acceptance / Letter of Invitation (LoA/LoI) within next seven working days and before issuance of Award of Contract (AoC) in the form of “Bank Guarantee” of any Scheduled Bank approved by RBI, payable at Kolkata or / in West Bengal, as per specimen format Form-6.

  • Additional Performance Security @ 10% of the tendered amount in the form of Bank Guarantee from a Scheduled Bank, valid up to the date of completion of work, shall be obtained from the successful bidder, if the accepted bid value is 80% or less than the estimated amount put to tender.

  • If the bidder fails to submit Additional Performance Security within 7 (seven) working days from the date of LoA or the time period as approved by the Tender inviting Authority, his Earnest Money will be forfeited.

  • The Additional Performance Security shall be submitted in the form of Bank Guarantee from any Scheduled Bank before issuance of the Work Order.

  • If the bidder fails to submit the Additional Performance Security within seven working days from the date of issuance of Letter of Acceptance, his Earnest Money will be forfeited and other necessary actions as per NIT like blacklisting of the contractor, etc, may be taken.

  • Necessary provisions regarding deduction of security deposit from the progressive bills of the contractor as per relevant clauses of the contract shall in no way be altered/affected by provision of this Additional Performance Security.

  • The Additional Performance Security shall be equal to fifty percent of Unbalanced Bid Amount.

  • The Additional Performance Security shall be deposited in lump sum by the successful bidder before execution of Agreement.


More Definitions of Additional Performance Security

Additional Performance Security means a performance security that must be submitted by the Selected Bidder to SJPNL along with Performance Security to secure performance of the obligations of the Bidder under clause 31.5 of the RFP;
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Additional Performance Security means a performance security that must be submitted by the Selected Bidder to the Executive agency before the issue of LOA to secure the obligations of the Concessionaire/Bidder in relation to the clause 16.5 of the RFP document.
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Additional Performance Security shall have the meaning ascribed to it in Article 6.1(c).
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Additional Performance Security means a performance security that must be submitted by the Selected Bidder to the KMC, along with Performance Security and ESHS Security, to secure the obligations of the Concessionaire/Bidder in relation to the clause 16.5 of the RFP document.
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Additional Performance Security shall have the meaning set forth in Clause 7.1; Rangagara to Kaliabor Tiniali of NH-37 (Old) from Km 297+000 to Km 315+315 (18.315 Km), under SARDP-NE, at the Risk and Cost of EPC Contractor on EPC mode March 2024
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Additional Performance Security shall have the mean- ing set forth in Clause 7.1;
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Related to Additional Performance Security

  • Performance Security means monetary guarantee to be furnished by the successful Tenderer for due performance of the contract placed on it. Performance Security is also known as Security Deposit or Performance Bank Guarantee.

  • Key Performance Indicators or “KPIs” means the performance measurements and targets set out in Part 3 of Schedule 1 (Services) of this Framework Agreement;

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.