Arab World,Gulf Cooperation Council, GCC,Middle East,Middle East and North Africa, MENA
08-06-2020
Work Detail
Quotation are invited for Supply of Power CablePERFORMANCE BONDWith reference to paragraph 21 of the General Instructions to the Bidder the Performance Bond required to be submitted by the successful bidder shall be in the value of ten percent 10 of the Contract Price The successful bidder shall provide the Performance Bond within 10 days of being informed In case of non submission of Performance Bond the bidder may be deemed to have withdrawn their bid and the Company may call and draw down upon the full amount of the Bid Bond In case the successful bidder does not sign a contract with the Company within thirty 30 days after submission of Performance Bond the bidder may be deemed to have withdrawn their bid and the Company may call and draw down upon the full amount of the Performance Bond BID BOND CHEQEUWith reference to paragraph 20 of the General Instructions to the Bidder the bidder shall submit in the Technical Bid envelope the original of the Bid Bond Cheqeu marked with the RFQ number title and the name of the bidder in the lump sum value of Kuwaiti Dinars Five Hundred only KD 500 The bid shall not be considered in the event of failure to submit a Bid Bond The Company may request the bidder to extend the validity of the Bid Bond at no extra cost to the Company The Bid Bond of the unsuccessful bidder shall be returned after the Company has entered into a contract with the successful bidder The bid bond Chcqcu shall be in favour of Kuwait Oil Company KOC TENDER FEEThe Bidder must pay a non refundable fee as follows Kuwaiti Dinars Twenty Five only KD 25 Cash deposit in or money transfer to the Company s bank account 1001058663 with the National Bank of Kuwait Ahmadi Branch Kuwait Swift Code NBOKKVVKW IBAN KW77NBOK0000000000001001058663Important Kuwait Oil Company will NOT accept a bank draft for Tender Fee The bidder must pay any bank charges required by the transmitting bank and by the receiving bank so that KOC account will be credited with the FULL tender fee The bidder shall submit the receipt marked with the RFQ number title and the name of the bidder
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