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:
Bid and Performance Security. The stipulated Bid Security amount shall be thirty thousand dollars ($30,000). Upon award, the successful Contractor shall replace the Bid Security by submitting to PEI Department of Transportation, Infrastructure and Energy (the Department) a Performance Security. The Performance Security shall remain in place until the warranty period expires (one year after substantial completion).
Bid and Performance Security. If bid security is required, a bid bond or cashier’s check in the amount indicated on the bid cover must accompany the bid and be made payable to The City of Fairhope of Xxxxxxx County, Al. Corporate or certified checks are not acceptable. Bonds must be in a form satisfactory to the City and underwritten by a company licensed to issue bonds in the State of Alabama. If bid security fails to accompany the bid, it shall be deemed unresponsive, unless the Purchasing Manager deems the failure to be non-substantial. All checks will be returned to the bidders after the contract has been approved. If a performance bond is required, the successful bidder will be notified after the awarding of the contract.
Bid and Performance Security. The Contractor hereby and herewith deposits with and delivers to the St Xxxxxx Area Development Corporation, 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:
