or a bond issued by an insurance company or bonding company likewiselocated. the format of the bank guarantee or bond shall be in accordancewith one of the sample forms included in these documents; other formatsmay be permitted subject to the prior approval of the employer or hisagent __________. letters of credit, bank guarantees and tender bondsshall be valid for one calendar month beyond the validity of the tender.
14.3 in the event of a tenderer agreeing to a specified extension oftender validity in accordance with clause 13 of the instructions totenderers, the tenderer shall provide an extension in the validity of thetender security of one calendar month beyond the validity of the extendedtender.
14.4 any tender not accompanied by an acceptable tender security willbe rejected by _________ as non-responsive.
14.5 the tender securities of unsuccessful tenderers will bedischarged or returned as promptly as possible, but not later than ______days after the expiration of the period of tender validity prescribed.
14.6 the tender security of the successful tenderer will be dischargedor returned upon the tenderer executing the contract and furnishing therequired performance security.
14.7 the tender security may be forfeited:
(a) if a tenderer withdraws his tender during the period of tendervalidity; or
(b) in the case of the successful tenderer, if he fails to:
(i) sign the agreement; or
(ii) furnish the necessary performance security.15. alternative offers
15.1 the tenderer shall submit a basic tender which complies fullywith the requirements of the tender documents. the tenderer may, at hisoption,and in addition to the basic tender, offer tenders incorporatingalternativesto any of the following items now specified:
(a) advance loan for mobilisation
an interest free advance loan will be made available to assist thecontractor before commencing construction of the works. offers may be madefor such a loan of up to ________% of the tender sum. evaluation will bemade of theassociated costs or savings accruing to the employer inaccordance withclause 28.
(b) (written as specific conditions).
15.2 alternatives may be submitted in addition to basic tender. inorder for alternatives to be considered in the process of tenderevaluation, each alternative shall be accompanied by a detailed pricebreakdown indicating the tenderer's estimate of the additional or reducedcost in presentvalue to the employer (refer to subclause 28.3 hereof)compared to the basic tender sum. comparison and evaluation will be donefor the basic offer andalternatives of the lowest evaluated tenderer willbe given due consideration.ifthe alternative offers were to be acceptedby the employer, these will be incorporated into the contract. alternativeoffers which are not priced, or which are not substantiated in sufficientdetail, will be rejected.
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