bid guarantee

bid security

The deposit of cash, certified check, cashier’s check, bank draft, money order, or bid bond submitted with a bid and serving to guarantee to the owner that the bidder, if awarded the contract, will execute such contract in accordance with the bidding requirements and the contract documents.
References in periodicals archive ?
Deposits and Guarantees required: As part of the bid, the economic operator should obligatory provide bid guarantee (participation guarantee) in the amount of 3 % of the total bid value without VAT.
Aeroplate argued that the relevant FAR provision (274) mandates that as long as a bid guarantee (bid bond) is proper on its face, the bidder has satisfied its requirements for the bid.
Deposits and Guarantees required: 1) Every contractor is obliged to secure its bid guarantee of 200 000 PLN (say two hundred thousand zloty).
Simont argues that its bid was improperly rejected for lack of a bid guarantee, and explains that it omitted the bid guarantee in good faith based on its reading of the amended IFB.
In a sealed bid procurement which required the submission of a bid guarantee in the amount of 20 percent of the bid price, agency properly rejected protester's bid as nonresponsive, where the bid included a bid guarantee that stated that the penal sum amount was limited to 20 percent of the bid price, but the liability limit of the surety was limited to an amount that was significantly less than 20 percent of the bid price.
The Corps rejected Horizon's proposal on the ground that the firm's bid guarantee was unacceptable.
Deposits and Guarantees required: Submitting a bid guarantee endorsement will be necessary, and if the contractor must provide a guarantee of contract performance.
Deposits and Guarantees required: As part of the bid, the economic operator shall obtain a bid guarantee (participation guarantee) in the amount of no less than 3 % of the total value of the bid, VAT not included;
Deposits and Guarantees required: Contractor is obliged to secure its bid guarantee of 13 000,00 zl thirteen thousand zlotys .
Bid Guarantee Must Be Included With Bid (bid Bond, Cashier s Check, Certified Check Or Bank Draft In The Sum Of Five (5%) Of The Bid).
Bid Guarantee: Each bid shall be accompanied by an acceptable form of bid guarantee in an amount equal to ten percent (10%) of the amount of the base bid payable to the Erie Canal Harbor Development Corporation as a guarantee that if the bid is accepted, the bidder will execute the Contract within ten (10) days after the notice to proceed.