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City of Portland

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5.34.680 Time for City Acceptance; Extension.

(Amended by Ordinance Nos. 185898 and 189878, effective March 4, 2020.)

A.  Time for Offer Acceptance.  An Offer submitted as a Firm Offer is irrevocable, valid and binding on the Offeror for not less than 60 Days from Closing unless otherwise specified in the Solicitation Document. After 60 Days, or such other period of time specified in the Solicitation Document, the Offer may lapse unless extended.

B.  Extension of Acceptance Time.  The City may request, orally or in Writing, that Offerors extend, in Writing, the time during which the City may consider and accept their Offer(s).  If an Offeror agrees to such extension, the Offer shall continue as a Firm Offer, irrevocable, valid and binding on the Offeror for the agree-upon extension period.  The extension may occur after the 60-Day time period referenced in Subsection 5.34.680 A.