Proposal Bond definition

Proposal Bond means a surety bond issued by an insurance company, bank, or other financial institution to ensure that the winning proposer will enter into a contract.

Proposal Bond means the security furnished with a Proposal to guarantee that the Proposer will enter into the Contract if the Proposer’s Proposal is accepted and satisfies all other conditions of Award.

Proposal Bond means a bond to secure the obligations of a Proposer under the ITP,

Examples of Proposal Bond in a sentence

• Performance Bond, Payment Bond, Maintenance Bond, Bid Bond, Proposal Bond and other Surety instruments executed by Surety.

• The Proposal and the Proposal Bond, including the attached Power of Attorney, shall be valid and binding for 60 days subsequent to the date of opening bids.

• The accompanying Power of Attorney must be dated, and the date must be the exact same date as the date on the Proposal Bond.

• That verification was based upon information the XXXX deemed sufficient as to allow general and broad unit pricing and to provide the Proposal Bond that holds the XXXX accountable to maintaining the MACC until execution of the Guaranteed Maximum Price Amendment.

• The proposal bond for the successful Proposer shall be returned at such time as Proposer has satisfied all conditions of execution and award set forth in ITP Section 6.1. If the next best value Proposer is notified during the 180-day period that it is selected for negotiations, such Proposer shall obtain an extension of the Proposal Bond for the period until 270 days after the Price Proposal Due Date.

More Definitions of Proposal Bond

Proposal Bond means the written financial guaranty of a financial guarantor (surety) that the bidder will execute a contract with the BPU upon notification that the bid has been awarded to that contractor.

Proposal Bond means the bond identified in Section 3.3.2 of Exhibit B.

Proposal Bond means the security that Proposers may submit to Department with their Proposals as further described in ITP Section 4.9.

Proposal Bond means the bond identified in Section 2.6 of Exhibit C-1 to the ITP.

Proposal Bond means a corporate surety bond, or a certified check drawn on a national bank, in the amount specified in the Instruction to Proposers, submitted with the proposal as a guarantee that the proposer will, if called upon to do so, accept and enter in the Contract.

Proposal Bond means the bond identified in Section 3.3.2 of Exhibit B. “Proposal Revisions” has the meaning set forth in ITP Section 5.8.

Proposal Bond means a bond or certified check made payable to Owner in accord with Applicable Law to protect Owner from loss against a former Winning Offeror where such Person has failed to comply with the procurement process.