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

The letter of award shall request the successful tenderer to furnish the Performance Security within 21 days of the date of the letter.
The letter of award shall request the successful tenderer to furnish the Performance Security within 21days of the date of the letter.
Where a Performance Security will be required, the submission of the said document, and the confirmation of its acceptance by UNDP, shall be a condition for the effectivity of the Contract that will be signed by and between the successful Bidder and UNDP.
The Bid Security of the successful bidder would be returned, without any interest whatsoever, after the receipt of Performance Security from them as called for in the contract.
Where a Performance Security will be required, the submission of the said document, and the confirmation of its acceptance by UNDP, shall be a condition for the effectivity of the Contract that will be signed by and between the successful Proposer and UNDP.

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 shall have the meaning set forth in Clause 4.4;

Performance Security means the security to be provided by the Service Provider in pursuant with corresponding clause for the due performance of the contract.