Common use of Period of Validity of Bids Clause in Contracts

Period of Validity of Bids. 21.1 Bids will remain valid for the period of One hundred Twenty (120) days from the date of bid opening prescribed by the Purchaser. A bid valid for a shorter period will be rejected. The bidders should clearly super scribe on the sealed envelopes of the bids about the validity. 21.2 In exceptional circumstances, the Purchaser may solicit the Bidder’s consent to an extension of the period of validity. The request and the responses there to will be made in writing (or by cable). The Bid Security provided under Clause No.20 will also be suitably extended. A Bidder may refuse the request without forfeiting its Bid Security.