17 AAC 42.357. Proposal deposit

(a) The airport manager may require that each proposer submit with the proposer's proposal a deposit in an amount and form that the manager determines appropriate to ensure that the successful proposer executes the lease, permit, or concession. The deposit amount may not exceed the manager's estimate of one year's rents and fees payable under the lease, permit, or concession to be awarded. The manager shall specify in the request for proposals the deposit amount and form and how the deposit will be applied.

(b) If the successful proposer does not within the required time sign the lease, permit, concession, or any other required document or perform any other requirement of the request for proposals, the proposer forfeits the deposit as liquidated damages for the lost benefit to and related additional costs incurred by the department. However, the proposer does not forfeit the deposit if the airport manager finds that the proposer's failure is excused by extraordinary circumstances beyond the proposer's control. After the manager has awarded and executed the lease, permit, concession, and any other required document, the manager shall return the deposit of each unsuccessful proposer. The manager shall return all proposal deposits if the manager rejects all proposals or cancels the request for proposals.

History: Eff. 1/14/2001, Register 157

Authority: AS 02.15.020

AS 02.15.060

AS 02.15.070

AS 02.15.090

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