Proposal Security Clause Samples
The Proposal Security clause requires bidders to provide a financial guarantee, such as a bid bond or bank guarantee, as part of their proposal submission. This security is typically held by the project owner to ensure that bidders do not withdraw or modify their proposals during the evaluation period and, if selected, will enter into the contract as agreed. By implementing this requirement, the clause discourages frivolous or non-serious bids and protects the owner from potential losses or delays caused by bidder default.
Proposal Security. (a) The Proposal Security has been delivered to BPDB and is required to be maintained in effect until submission of Performance Security Deposit (PSD). If at any time prior to the submission of PSD, the Proposal Security will expire within thirty (30) Days and the Company does not extend the period of effectiveness of the Proposal Security for a period of not less than 4 (four) Months, BPDB shall be entitled immediately to encash the Proposal Security in full.
Proposal Security. The Sponsor delivered to BPDB the Proposal Security on the Bid Date.
Proposal Security. Purchaser has provided $10,000.00 to Seller as a Proposal Security at the time of making the proposal, in accordance with the requirements of the RFP, to secure Purchaser’s obligation to provide financial and other information, to sign this Agreement and to provide the Deposit described in Section 2.03. It is agreed that the Proposal Security, if not forfeited by the Purchaser, will constitute additional ▇▇▇▇▇▇▇ money for the sale of the Property to Purchaser, and will be applied to the Purchase Price at Closing. The Proposal Security will be held by the Title Company on behalf of Seller and will not be deposited into an interest‐bearing account.
Proposal Security. Each proposal shall be accompanied by a certified check, cashier’s check or corporate surety bond in an amount equal to five percent (5%) of the Shared/Hosted Furnished System base proposal total (excluding optional items). Such check or bond shall be provided as proposal security and be payable to the Metropolitan Emergency Services Board, St. ▇▇▇▇, MN, as a guarantee that vendor will enter into a contract with the Consortium or with the individual PSAP agencies in accordance with the terms of this solicitation in case such vendor is awarded the contract. If a bond, the bond shall be issued by a surety authorized to do business in the State of Minnesota.
Proposal Security. The security designated in the proposal, to be furnished by the Bidder as a guaranty of good faith to enter into a contract with the Owner if the work is awarded to him.
Proposal Security. 23 To secure the obligations of Proposer under this ITP, the Proposal shall include either a 24 Proposal Bond or a Proposal Letter of Credit in the face amount of $50 million.
Proposal Security. 6.1 Due to the nature of this RFP and in accordance with FEMA standards, a bid bond is not necessary.
Proposal Security. N/A 2.24 Payment and Performance Bond – N/A
Proposal Security. All Proposals must be accompanied by a Proposal Bond in accordance with Section 5 of this RFP.