The provisional guarantee covers the bidder’s failure to sign the contract following the award; it is automatically released when the contract is signed between the chosen bidder and the contracting authority. The latter shall release the guarantee vis-à-vis the other bidders (not awarded) within 30 days of the award.
Article 1 paragraph 4 of Legislative Decree No. 76 of 16 July 2020 establishes the “procedures for promoting investments during the emergency period in relation to the award of sub-threshold public contracts”. It therefore defines that the contracting station may not request the provisional guarantee, or halve the amount requested with respect to that provided for by art. 93.
These conditions can be applied only if there are specific needs, such as to justify the absence of the guarantee; in this case it must be indicated in the notice of the call for tenders or in another equivalent document mercer county bail bonds.
Definitive public procurement guarantee: what it is
The definitive guarantee replaces the provisional one.
Once the contract has been awarded, it must be delivered to the contracting authority together with the tender offer (art. 103 Legislative Decree 50/2016). If the contractor does not present the final guarantee, the award is forfeited; the contracting station thus acquires the provisional guarantee and awards the contract to the second in the ranking.
Definitive guarantee: what is the goal?
The definitive guarantee is equal to 10% of the contractual amount; it can be presented as a definitive guarantee or in the form of a surety.
guarantees that the contractual obligations are respected by the person who is awarded the contract;
covers failure or incorrect fulfillment of the obligations under the contract;
protects the contracting station and compensates it when the contractor of the contract is unable to complete what was requested.
The release of the definitive guarantee takes place progressively, up to a maximum of 80% of the guaranteed amount. The remaining part is retained until the certificate of regular execution is issued or up to 12 months from the date of completion of the works. The release is automatic.