If the award is delayed by a period exceeding fifty-six (56) days beyond the expiry of the initial Bid validity period, the Contract price shall determined as follows: in the case of fixed price contracts, the Contract price shall be the Bid price adjusted by the factor specified in the BDS; in the case of adjustable price contracts, no adjustment shall be made; or in any case, Bid evaluation shall be based on the Bid price without taking into consideration the applicable correction from those indicated above. The Bidder shall furnish as part of its Bid, either a Bid-Securing Bid Security Declaration or a Bid Security as specified in the BDS, in original form and, in the case of a Bid Security, in the amount and currency specified in the BDS. A Bid-Securing Declaration shall use the form included in Section IV Bidding Forms. If a Bid Security is specified pursuant to ITB 20.1, the Bid Security be a demand guarantee and in any of the following forms at the Bidder’s option: an unconditional guarantee issued by a bank or non-bank financial institution (such as an insurance, bonding or surety company); an irrevocable letter of credit; a cashier’s or certified check; or another security specified in the BDS, from a reputable source from an eligible country. If an unconditional guarantee is issued by a non-bank financial institution located outside the Employer’s Country the issuing non-bank financial institution shall have a correspondent financial institution located in the Employer’s Country to make it enforceable unless the Employer has agreed in writing, prior to Bid submission, that a correspondent financial institution is not required. In the case of a bank guarantee, the Bid Security shall be submitted either using the Bid Security Form included in Section IV, Bidding Forms, or in another substantially similar format approved by the Employer prior to Bid submission. The Bid Security shall be valid for twenty-eight (28) days beyond the original validity period of the Bid, or beyond any period of extension if requested under ITB 19.2. If a Bid Security or a Bid-Securing Declaration is specified pursuant to ITB 20.1, any Bid not accompanied by a substantially responsive Bid Security or Bid-Securing Declaration be rejected by the Employer as nonresponsive.
If the award is delayed by a period exceeding fifty-six (56) days beyond the expiry of the initial Bid validity period, the Contract price shall determined as follows: in the case of fixed price contracts, the Contract price shall be the Bid price adjusted by the factor specified in the BDS; in the case of adjustable price contracts, no adjustment shall be made; or in any case, Bid evaluation shall be based on the Bid price without taking into consideration the applicable correction from those indicated above. Bid Security The Bidder shall furnish as part of its Bid, either a Bid-Securing Declaration or a Bid Security as specified in the BDS, in original form and, in the case of a Bid Security, in the amount and currency specified in the BDS. A Bid-Securing Declaration shall use the form included in Section IV Bidding Forms. If a Bid Security is specified pursuant to ITB 20.1, the Bid Security be a demand guarantee and in any of the following forms at the Bidder’s option: an unconditional guarantee issued by a bank or non-bank financial institution (such as an insurance, bonding or surety company); an irrevocable letter of credit; a cashier’s or certified check; or another security specified in the BDS, from a reputable source from an eligible country. If an unconditional guarantee is issued by a non-bank financial institution located outside the Employer’s Country the issuing non-bank financial institution shall have a correspondent financial institution located in the Employer’s Country to make it enforceable unless the Employer has agreed in writing, prior to Bid submission, that a correspondent financial institution is not required. In the case of a bank guarantee, the Bid Security shall be submitted either using the Bid Security Form included in Section IV, Bidding Forms, or in another substantially similar format approved by the Employer prior to Bid submission. The Bid Security shall be valid for twenty-eight (28) days beyond the original validity period of the Bid, or beyond any period of extension if requested under ITB 19.2. If a Bid Security or a Bid-Securing Declaration is specified pursuant to ITB 20.1, any Bid not accompanied by a substantially responsive Bid Security or Bid-Securing Declaration be rejected by the Employer as nonresponsive.
SPD-Request-for-Bids-PLANTafterprequalification-January2017.docx