¡¡¡¡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. ¡¡¡¡15.3 offers of technical alternatives¡¡shall¡¡be¡¡accompanied¡¡by¡¡allinformation¡¡necessary¡¡for¡¡a¡¡complete¡¡evaluation,¡¡ including¡¡ designcalculations, drawings, method statements and specifications for materialsand workmanship where the alternative is not covered by the specification,together with¡¡a¡¡breakdown¡¡of¡¡the¡¡alternative¡¡prices¡¡and¡¡the¡¡totalalternative contract sum. ¡¡¡¡15.4 only those alternative offers which appear to provide¡¡additionalfinancial, economic or technical benefits over the¡¡basic¡¡offer¡¡will¡¡beconsidered by the employer in tender evaluation (refer to clause 28).16. pre-tender meeting ¡¡¡¡16.1 the tenderer or his official representative is advised to¡¡attenda pre-tender meeting which will convene on ______________at ___________ atthe ___________. ¡¡¡¡16.2 the purpose of the meeting will¡¡be¡¡to¡¡clarify¡¡issues¡¡and¡¡toanswer questions on any matter that may be raised at¡¡that¡¡stage¡¡and¡¡toallow tenderers to inspect the site and to examine conditions. ¡¡¡¡16.3 tenderers are requested to submit any questions in writing or¡¡bytelex or telegram, to reach__________ not later than one week¡¡before¡¡themeeting. ¡¡¡¡16.4 minutes of the meeting, including copies of the questions¡¡raisedandresponses¡¡given,¡¡will¡¡be¡¡furnished¡¡expeditiously¡¡to¡¡all¡¡thoseattendingthe meeting, and subsequently to all pre-qualified tenderers whohave pickedupthe¡¡tender¡¡documents.¡¡any¡¡modification¡¡of¡¡the¡¡tenderdocuments listed in sub-clause 6.1 which may become necessary as a¡¡resultof the pre-tender meeting shall be made¡¡by¡¡the¡¡employer¡¡or¡¡his¡¡agent___________ exclusivelythrough the¡¡issue¡¡of¡¡an¡¡addendum¡¡pursuant¡¡toclause 8, and not through the minutes of the pre-tender meeting.17. format and signing of tenders ¡¡¡¡17.1 the tenderer shall prepare one original and two duplicate¡¡copiesof the documents comprising the tender as described in clause 10.1 hereof,bound within the volume 3, and clearly marked "original tender" and"duplicate tender"as appropriate. in the event of any discrepancy betweenthem, the original shall prevail. ¡¡¡¡17.2 the original and two duplicate copies¡¡of¡¡the¡¡tender¡¡shall¡¡betyped or written in indelible ink and shall¡¡be¡¡signed¡¡by¡¡a¡¡person¡¡orpersonsduly authorised to bind the tenderer to¡¡the¡¡contract.¡¡proof¡¡ofauthorisation shall be furnished¡¡in¡¡the¡¡form¡¡of¡¡a¡¡written¡¡power¡¡ofattorney which shall accompany the tender. all pages of the¡¡tender¡¡whereentries or amendments have been made shall be initialled by the person¡¡orpersons signing the tender. ¡¡¡¡17.3 the complete tender shall be without alterations, interlineationsor erasures, except those to accord with the instructions¡¡of¡¡any¡¡agendaissued,or as necessary to correct errors made by the tenderer,¡¡in¡¡whichcase such corrections shall be initialled by the person or persons signingthe tender. ¡¡¡¡17.4 only one tender may be submitted by each tenderer, not¡¡includingalternative offers submitted pursuant to clause 15 hereof. no tenderer mayparticipate in the tender of another for the same contract in any relationwhatsoever.18. sealing and marking of tenders ¡¡¡¡18.1 the tenderer shall seal the original and¡¡two¡¡duplicate¡¡tenderseach in an inner and an outer envelope, duly marking the envelopes as"original" and "duplicate". ¡¡¡¡18.2 the inner and outer envelopes shall: ¡¡¡¡(a) be addressed to _________. (address of employer's agent) ¡¡¡¡(b) bear the following details: ¡¡¡¡(i) tender for construction of contract _________; ¡¡¡¡(ii) _________ project; ¡¡¡¡(iii) "do not open before __________." ¡¡¡¡18.3 the inner envelopes shall¡¡bear¡¡the¡¡name¡¡and¡¡address¡¡of¡¡thetenderer to enable the tender to¡¡be¡¡returned¡¡unopened¡¡in¡¡case¡¡it¡¡isdeclared late. the outer envelope shall not bear any identification of thetenderer. ¡¡¡¡18.4 if¡¡the¡¡outer¡¡envelope¡¡is¡¡not¡¡marked¡¡as¡¡instructed¡¡above,_________ company will assume no responsibility for¡¡the¡¡misplacement¡¡orpremature opening of the tender. a¡¡tender¡¡opened¡¡prematurely¡¡for¡¡thiscause will be rejected by¡¡the¡¡employer¡¡or¡¡his¡¡agent¡¡___________¡¡andreturned to thetenderer.19. deadline for submission of tenders ¡¡¡¡19.1 tenders¡¡must¡¡be¡¡received¡¡by¡¡______________¡¡at¡¡the¡¡addressspecified above no later than _________. ¡¡¡¡19.2 the employer or¡¡his¡¡agent¡¡__________¡¡company¡¡may,¡¡at¡¡theirdiscretion, on giving not less than ________ calendar days notice by telexor telegram to all pre-qualified tenderers who have picked up¡¡the¡¡tenderdocuments, extend the deadline for the submission of tenders by issuing anaddendum in accordance with¡¡clause¡¡8,¡¡in¡¡which¡¡case¡¡all¡¡rights¡¡andobligations of the employer and the tenderers previously¡¡subject¡¡to¡¡thedeadline shall thereafter be subject to the new deadline as extended.20. late tenders ¡¡¡¡any tender¡¡received¡¡by¡¡___________¡¡company¡¡after¡¡the¡¡prescribeddeadline for submission of tenders will be returned unopened.21. modification andwithdrawal of tenders ¡¡¡¡21.1 the tenderer may modify or withdraw his tender after¡¡submission,provided that the modification or notice¡¡of¡¡withdrawal¡¡is¡¡received¡¡inwritingby¡¡__________¡¡company¡¡prior¡¡to¡¡the¡¡prescribed¡¡deadline¡¡forsubmission of tenders. ¡¡¡¡21.2 the tenderer's modification or¡¡notice¡¡of¡¡withdrawal¡¡shall¡¡beprepared, sealed, marked and despatched in accordance with the¡¡provisionsfor thesubmission of tenders. a notice of withdrawal may also be sent¡¡bytelex or telegram, but shall be followed by a¡¡signed¡¡confirmation¡¡copy,postmarked not later than the deadline for submission of tenders. ¡¡¡¡21.3 subject to clause 24 hereof, no tender may be modified subsequentto the deadline for submission of tenders. ¡¡¡¡21.4 withdrawal of a tender during the interval between¡¡the¡¡deadlineforsubmission of tenders and the¡¡expiration¡¡of¡¡the¡¡period¡¡of¡¡tendervaliditymay result in the¡¡forfeiture¡¡of¡¡tender¡¡security¡¡pursuant¡¡toclause 14. ¡¡¡¡ ¡¡¡¡tender opening and evaluation22. tender opening ¡¡¡¡22.1 the employer or his agent __________ will open¡¡the¡¡tenders,¡¡inthepresence of¡¡tenderers'¡¡representatives¡¡who¡¡choose¡¡to¡¡attend,¡¡at___________ on _______________ at the offices¡¡of¡¡__________.¡¡tenderers'representatives who are present shall sign¡¡a¡¡register¡¡evidencing¡¡theirattendance. ¡¡¡¡22.2 tenders for which an acceptable notice¡¡of¡¡withdrawal¡¡has¡¡beensubmitted pursuant to clause 21 hereof shall not be opened.¡¡the¡¡employeror his agent ___________ will examine the¡¡tenders¡¡to¡¡determine¡¡whetherthey are complete, whether¡¡the¡¡requisite¡¡tender¡¡securities¡¡have¡¡beenfurnished, whether the documents have been properly¡¡signed,¡¡and¡¡whetherthe tenders are generally in order. ¡¡¡¡22.3 the tenderers' names, total¡¡amounts¡¡of¡¡tenders,¡¡tender¡¡pricemodifications¡¡and¡¡tender¡¡withdrawals,¡¡if¡¡any,¡¡the¡¡presence¡¡of¡¡therequisite tender security and such other details as the¡¡employer¡¡or¡¡hisagent ____________, at their discretion, may consider appropriate will¡¡beannounced at the opening. ¡¡¡¡22.4 the employer or his agent _____________ shall prepare minutes¡¡ofthetender opening for his own records. such minutes shall be sent to¡¡theworld bank together with the report on the evaluation of tenders¡¡as¡¡soonas the latter is available.23. process to be confidential ¡¡¡¡23.1 after the public opening of tenders, information relating to¡¡theexamination, clarification,¡¡evaluation¡¡and¡¡comparison¡¡of¡¡tenders¡¡andrecommendations concerning the award of contract shall not be disclosed totenderers or other persons not¡¡officially¡¡concerned¡¡with¡¡such¡¡processuntil the awardof¡¡a¡¡contract¡¡to¡¡the¡¡successful¡¡tenderer¡¡has¡¡beenannounced. ¡¡¡¡23.2 any effort by a tenderer to influence the employer in the processof examination, clarification, evaluation and comparison¡¡of¡¡tenders¡¡anddecisions concerning award of contract may result in the rejection of¡¡histender.24. clarification of tenders ¡¡¡¡to assist in the examination, evaluation and¡¡comparison¡¡of¡¡tenders,theemployer and _______________ company may¡¡ask¡¡tenderers¡¡individuallyfor clarification of their tenders, including breakdowns of¡¡unit¡¡prices.the requestfor clarification and the response shall be in writing¡¡or¡¡bytelex or telegram, but no change in the price or substance of¡¡the¡¡tendershall be sought, offered or permitted except as required¡¡to¡¡confirm¡¡thecorrection of arithmetical errors discovered by the¡¡employer¡¡during¡¡theevaluation of tenders in accordance with clause 26 hereof.25. determination of responsiveness ¡¡¡¡25.1 prior to the detailed evaluation of¡¡tenders,¡¡the¡¡employer¡¡and_________ company will determine¡¡whether¡¡each¡¡tender¡¡is¡¡substantiallyresponsive to the requirements of the tender documents. ¡¡¡¡25.2 for the purpose of this clause, a substantially responsive tenderis one which conforms to all the terms, conditions and¡¡specifications¡¡ofthe tender documents without material deviation or reservation. a materialdeviation is one which affects in any substantial way the¡¡scope,¡¡qualityor administration of the works, or which limits in¡¡any¡¡substantial¡¡way,inconsistent with the tender¡¡documents,¡¡the¡¡employer's¡¡rights¡¡or¡¡thetenderer's obligations under the contract, and the rectification of¡¡whichdeviation or reservation would affect unfairly the competitive position ofother tenderers offering substantially responsive tenders. ¡¡¡¡25.3 if a tender is not substantially responsive to¡¡the¡¡requirementsof the tender¡¡documents,¡¡it¡¡shall¡¡be¡¡rejected¡¡by¡¡the¡¡employer¡¡and_________ company.26. correction of errors ¡¡¡¡26.1 tenders determined to be substantially responsive will be checkedby the employer for any arithmetical errors in computation and¡¡summation.errors will be corrected by the employer as follows: ¡¡¡¡(a) where there is a discrepancy between amounts¡¡in¡¡figures¡¡and¡¡inwords, the amount in words will normally govern, unless it is¡¡clear¡¡fromthe context that the amount in figures is correct; and ¡¡¡¡(b) where there is a discrepancy between the unit rate and¡¡the¡¡totalamount derived from the multiplication of the unit rate and the¡¡quantity,the unit rate as quoted will normally govern unless, in the opinion of theemployer, there is obviously a gross error in¡¡the¡¡unit¡¡rate;¡¡in¡¡whichevent the totalamount as quoted will govern and the¡¡unit¡¡rate¡¡will¡¡becorrected. ¡¡¡¡26.2 the amount stated in the form of tender will be adjusted¡¡by¡¡theemployer in accordance with the above¡¡procedure¡¡for¡¡the¡¡correction¡¡oferrors and, with the concurrence of the tenderer, shall be¡¡considered¡¡asbinding upon the tenderer. the tenderer may, at his option,¡¡withdraw¡¡histender if acceptance of the corrected amount would cause hardship. howeverin cases such as this, the tenderer is warned¡¡that¡¡such¡¡an¡¡action¡¡maycause his tender security to be forfeited.27. conversion to single currency ¡¡¡¡the tender price is the sum of all payments stated or expressed¡¡as¡¡apercentage in various currencies required to be made to the¡¡tenderer.¡¡tofacilitate evaluation and comparison of tenders, the employer will convertthe amountsin various currencies in which the tender price is payable(excluding¡¡provisional¡¡sums¡¡but¡¡ including¡¡ daywork,¡¡ where¡¡ pricedcompetitively) to rmb atthe selling rates established by bank¡¡of¡¡china,on the date specified for theopening of tenders.28. evaluation and comparison of tenders ¡¡¡¡28.1 the employer and _____________ company will evaluate and¡¡compareonly those tenders¡¡determined¡¡to¡¡be¡¡substantially¡¡responsive¡¡to¡¡therequirements of the tender documents in accordance with clause 25¡¡hereof.the evaluation and comparison shall be based only on the "basic" offer¡¡todetermine the lowest evaluated tenderer for award of the contract. ¡¡¡¡28.2 in evaluating tenders,¡¡the¡¡employer¡¡will¡¡determine¡¡for¡¡eachtender the evaluated¡¡tender¡¡price¡¡by¡¡adjusting¡¡the¡¡tender¡¡price¡¡asfollows: ¡¡¡¡(a) making any correction for errors pursuant to clause 26; ¡¡¡¡(b)¡¡excluding¡¡provisional¡¡sums¡¡and¡¡the¡¡provision,¡¡if¡¡any,¡¡forcontingencies in the summary bill of quantities,¡¡but¡¡including¡¡dayworkswhere priced competitively; ¡¡¡¡(c) converting all amounts to a single currency; ¡¡¡¡(d) adding any monetary cost of¡¡mobilisation¡¡advances,¡¡assessed¡¡inaccordance with sub-clause 28.3 ¡¡¡¡(e)¡¡making¡¡an¡¡appropriate¡¡adjustment¡¡for¡¡any¡¡other¡¡acceptablequantifiable variations, deviations or alternative offers not reflected inthe tender price or in the above-mentioned other adjustments. ¡¡¡¡(f)¡¡such¡¡other¡¡factors¡¡as¡¡the¡¡employer¡¡considers¡¡may¡¡have¡¡apotentially significant impact on contract execution, price and¡¡payments,including the effect of items¡¡or¡¡unit¡¡rates¡¡in¡¡the¡¡tender¡¡that¡¡areunbalanced or unrealistically priced. ¡¡¡¡28.3 the monetary costs to the employer of variations in the amount ofmobilisation advances requested by tenderers pursuant to sub-clauses 15.1(a), using a discount rate of ______ percent per annum, shall be added¡¡tothe respective tenderer's tender price for comparison purposes only. ¡¡¡¡28.4 the employer and ___________ company reserves the right to acceptor reject any¡¡variation,¡¡deviation¡¡or¡¡alternative¡¡offer.¡¡variations,deviations, alternative offers and other factors which are¡¡in¡¡excess¡¡ofthe requirements of the¡¡tender¡¡documents¡¡or¡¡otherwise¡¡result¡¡in¡¡theaccrual of unsolicited benefits to the employer¡¡may¡¡not¡¡be¡¡taken¡¡intoaccount in tender evaluation. ¡¡¡¡28.5 price adjustment provisions applying to the period¡¡of¡¡executionof the contract shall not be taken into account in tender evaluation. ¡¡¡¡28.6 if the tender of the successful tenderer is seriously¡¡unbalancedin relation to the engineer's estimate of the real¡¡cost¡¡of¡¡work¡¡to¡¡beperformed under the contract, the employer may require that the amount¡¡ofthe performance security set forth¡¡in¡¡clause¡¡34¡¡be¡¡increased¡¡at¡¡theexpense of the successful tenderer to a level sufficient¡¡to¡¡protect¡¡theemployer against financial loss in the event of subsequent default of¡¡thesuccessful tenderer under the contract.29. preference for domestic tenderers ¡¡¡¡29.1 domestic tenderers shall satisfy the¡¡following¡¡criteria¡¡to¡¡beeligible for a _______% margin of preference in the¡¡comparison¡¡of¡¡theirtenderswith those of non-eligible tenderers: ¡¡¡¡(a) be registered within china; ¡¡¡¡(b) have majority ownership by nationals of china; and ¡¡¡¡(c) shall not subcontract more than ________% of the contract works(in terms of value) to foreign contractors. ¡¡¡¡29.2 combinations and joint¡¡ventures¡¡between¡¡domestic¡¡and¡¡foreignfirms shall be eligible for the margin of preference provided: ¡¡¡¡(a) the domestic partner or partners individually satisfy the criteriaforeligibility set out above; ¡¡¡¡(b) the domestic partner or¡¡partners¡¡will,¡¡under¡¡the¡¡arrangementsproposed, carry out at least ________% of the contract works, measured¡¡interms of value. ¡¡¡¡(c) the domestic partner or partners would not be¡¡qualified¡¡for¡¡thecontract works in question on technical or financial grounds¡¡without¡¡theforeignparticipation. ¡¡¡¡29.3 the following procedure will be used to give effect to the marginof preference: ¡¡¡¡(a) after tenders have been evaluated fully¡¡in¡¡accordance¡¡with¡¡theprovisions of clause 28 hereinabove, responsive tenders will be classifiedinto the following groups; ¡¡¡¡(i) group¡¡a:¡¡tenders¡¡offered¡¡by¡¡domestic¡¡tenderers¡¡meeting¡¡thecriteria set forth in sub-clause 29.1 hereinabove and¡¡by¡¡joint¡¡venturesmeetingthe criteria set forth in sub-clause 29.2 hereinabove; and ¡¡¡¡(ii) group b: tenders offered by other tenderers. ¡¡¡¡(b) for the purpose of further evaluation and¡¡comparison¡¡of¡¡tendersonly, an amount equal¡¡to¡¡_________¡¡percent¡¡of¡¡the¡¡tender¡¡price¡¡(asadjusted pursuant to paragraphs (a), (b) and (c) of sub-clause 28.2)¡¡willbe added tothe evaluated tender price of tenders classified in group b. ¡¡¡¡ ¡¡¡¡award of contract30. award criteria ¡¡¡¡subject to clause 31, the employer and ________ company may award¡¡thecontract¡¡to¡¡the¡¡tenderer¡¡whose¡¡tender¡¡has¡¡been¡¡determined¡¡to¡¡ besubstantially responsive to the tendering documents and¡¡who¡¡has¡¡offeredthe lowest evaluated tender price pursuant to clause 28 and paragraph¡¡(b)of sub-clause 29.3 (if applicable), provided further that the tenderer hasthe capability and resources to carry out the contract effectively¡¡(referto sub-clause 3.5), butthe¡¡employer¡¡and¡¡_________¡¡company¡¡gives¡¡noguarantee that the lowest orany tender will be accepted.31. employer's rights ¡¡¡¡notwithstanding clause 30, the employer reserves the right¡¡to¡¡acceptor reject any tender, and to annul the tendering process¡¡and¡¡reject¡¡alltenders, at any time prior to award of contract, without thereby incurringany liability to the affected tenderer or tenderers or any¡¡obligation¡¡toinform¡¡the¡¡affected¡¡tenderer¡¡or¡¡tenderers¡¡of¡¡the¡¡grounds¡¡for¡¡theemployer's action.32. notification of award ¡¡¡¡32.1 prior¡¡to¡¡the¡¡expiration¡¡of¡¡the¡¡period¡¡of¡¡tender¡¡validityprescribed by the¡¡employer,¡¡the¡¡employer¡¡will¡¡notify¡¡the¡¡successfultenderer by telex or telegram confirmed in writing¡¡by¡¡registered¡¡letterthat his tender has been accepted. this letter¡¡(hereinafter¡¡and¡¡in¡¡theconditions of contract called the "letter of acceptance") shall¡¡name¡¡thesum which the employer will pay to the contractor in consideration of¡¡theexecution, completion and maintenance of the works by¡¡the¡¡contractor¡¡asprescribed by the contract (hereinafter and in the conditions of¡¡contractcalled the "tender sum"). ¡¡¡¡32.2 the notification of award will constitute the¡¡formation¡¡of¡¡thecontract. ¡¡¡¡32.3 upon the furnishing by the successful tenderer of¡¡a¡¡performancesecurity in accordance with¡¡the¡¡provisions¡¡of¡¡clause¡¡34¡¡hereof,¡¡theemployer will promptly notify the other tenderers that their tenders¡¡havebeen unsuccessful.33. signing of agreement ¡¡¡¡33.1 within ________ days of notifying the¡¡successful¡¡tenderer¡¡thathistender has been accepted, the employer will send to the¡¡tenderer¡¡twocopies of¡¡the¡¡form¡¡of¡¡agreement¡¡provided¡¡in¡¡the¡¡tender¡¡documents,incorporating all agreements between the parties. ¡¡¡¡33.2 within__________ days of receipt of the form¡¡of¡¡agreement,¡¡thesuccessful tenderer shall execute the agreement by signing or sealing,¡¡asappropriate, and return both copies to the¡¡employer.¡¡the¡¡employer¡¡willthen execute the agreement and return one copy to the contractor.34. performance security ¡¡¡¡34.1 within _________ days of receipt of the letter of acceptance, thesuccessful tenderer shall furnish to the employer a security for¡¡the¡¡dueperformance¡¡of¡¡the¡¡contract,¡¡in¡¡accordance¡¡with¡¡the¡¡conditions¡¡ofcontract.¡¡the¡¡form¡¡of¡¡performance¡¡security¡¡provided¡¡in¡¡the¡¡tenderdocuments may be used, or some other form acceptable to the employer. ¡¡¡¡34.2 if the performance security is to be provided by¡¡the¡¡successfultenderer in the form of a bank guarantee, it shall be issued either¡¡by¡¡alocal bank; by a foreign bank through a correspondent local bank; or by¡¡aforeign bank which has been determined by the tenderer to be acceptable tothe employer. ¡¡¡¡34.3 if the performance security is to be provided by¡¡the¡¡successfultenderer in the form of a bond,¡¡it¡¡shall¡¡be¡¡issued¡¡by¡¡a¡¡bonding¡¡orinsurance company¡¡which¡¡has¡¡been¡¡determined¡¡by¡¡the¡¡tenderer¡¡to¡¡beacceptable to the employer. ¡¡¡¡ ¡¡¡¡34.4¡¡failure¡¡of¡¡the¡¡successful¡¡tenderer¡¡to¡¡comply¡¡ with¡¡ therequirements of clauses¡¡33¡¡or¡¡34¡¡hereof¡¡shall¡¡constitute¡¡sufficientgrounds for the annulment of¡¡the¡¡award¡¡and¡¡forfeiture¡¡of¡¡the¡¡tendersecurity, inwhich event the employer may¡¡make¡¡the¡¡award¡¡to¡¡the¡¡nextlowest evaluatedtenderer or, if there are no other¡¡tenderers,¡¡call¡¡fornew tenders.