Validity period
The binding period is a term that is primarily used in business in connection with binding offers. In special areas - such as the construction industry - the binding period is subject to a statutory regulation. The binding period in the construction industry is based on Section 10 (7) VOB / A in the version of 2012 VOB / A. In the old version from 2006, the term "binding period" was directly mentioned in Section 19 (3) VOB / A. This is no longer the case in the 2012 version, although the wording has not changed.
Accordingly, the binding period is the period in which a bidder is bound to his offer .
In the case of public contracts, the bidder is bound by his offer according to Section 145 BGB until the end of the binding period. VOB / A and VOL / A ensure that the bidder is only allowed to change and withdraw his offer during the offer period and no longer in the subsequent binding period. The binding period must be reasonable, since the bidders are limited in their business decisions and dispositions during this period.
In private-sector agreements, the binding period denotes a period in which the offering company undertakes to
- a certain service (e.g. delivery of goods),
- on a specific date,
- at a certain price,
- and in a specific execution.
Often, in connection with the binding period, a contractual penalty - e.g. B. for missed deadlines - agreed between the contracting parties.
However, the legal effectiveness is doubtful
- both a binding period on performance (i.e. not only on the conditions)
- as well as an 'agreed' contractual penalty for non-performance,
as long as the provider did not also issue an order confirmation after the offer (see discussion page).
In insurance law, the binding period means that when the application is sent, the applicant is bound to his application for a certain period of time and can no longer revoke it outside of his right of revocation or objection, Section 145 BGB.
Individual evidence
- ↑ - ( Memento of the original from May 22, 2014 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
