"The tender assessment panel, having assessed all valid tenders, shall decide upon the successful tenderer."
The tender security of the successful tenderer will be disch` arged o` r returned upon the tenderer executing the Contract an` d furnishing the required perfo` rmance security.
The Bid Bond of a successful tenderer will be refunded upon furnishing of the required Performance Bond.
Upon the furnishing by the successful tenderer of a performance security in accordance with the provisions of Clause34 hereof, the Employer will promptly notify the other tenderers that their tenders have been unsuccessful.
The successful tenderer will be required to hand over a specified proportion of flats selected at random within the development to the government for sale to eligible purchasers at designated prices.
Unsuccessful tenderers shall return the bidding documents and relevant materials within 7 days upon receipt of notification, and the bid invitation unit shall refund the tenderer the deposit.
This sum shall be forfeited to the government if any tenderer fails or refuses to implement an accepted tender. The deposits will be returned to unsuccessful tenderers.
