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.
Appears in 3 contracts
Sources: Purchase Agreement, Purchase Agreement, Purchase Agreement