Performance Security definition
Performance Security means monetary guarantee to be furnished by the successful Tenderer for due performance of the contract placed on it. Performance Security is also known as Security Deposit or Performance Bank Guarantee.
Performance Security means the security (or securities, if any) under Sub-Clause 4.2 [Performance Security].
Performance Security means monetary amount or financial guarantee to be furnished by the successful bidder for due performance of the contract placed on it. Performance Security is also known as Security Deposit.
Examples of Performance Security in a sentence
Further, for the avoidance of doubt, with respect to anything contained herein that allows Owner to offset, set-off or draw against any Performance Security any amount then owed to Contractor, Owner shall have the express right to include in the amount offset, set-off or drawn under such Performance Security all of the reasonable costs and expenses it incurs in connection with enforcing such provision (including reasonable attorneys’ and other consultants’ fees).
More Definitions of Performance Security
Performance Security means monetary or financial guarantee to be furnished by the successful bidder for due performance of the contract placed on it.
Performance Security and “Additional Performance Security” shall have the meaning set forth in Clause 7.1;
Performance Security means the irrevocable and unconditional bank guarantee provided by the Consultant from a scheduled Indian bank as guarantee for the performance of its obligations in respect of the Contract;
Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.3 of this RFP Document
Performance Security shall have the meaning set forth in Clause 4.4;
Performance Security means (i) cash or (ii) a Letter of Credit in the amount set forth on the Cover Sheet.
Performance Security means the Demand Draft submitted to the Authority by the Developer for due performance of its obligations under this Agreement, in accordance with Clause 5.1.