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Bid Security

Post by slayer on Tue Mar 31, 2009 11:33 am

Good day.

Were do the Bids Security goes after the Bidding. For example the losing bidder? It must be put to the treasury or will be given to the bidder directly right after the bidding? regardless in any form?

thanks

slayer
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Re: Bid Security

Post by engrjhez® on Tue Mar 31, 2009 11:49 am

Bid securities of all losing bidders may be returned provided they file a waiver of "no protest" to the results of the bidding/evaluation process. Only Bid Securities of those bidders who "may be awarded" shall be held in custody of the BAC until the Award is issued. Very Happy
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Re: Bid Security

Post by slayer on Tue Mar 31, 2009 12:03 pm

The problem sir is it was turned over to the cashier for reimbursement by the bidder later. it has implications on it?

Thanks again

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Re: Bid Security

Post by engrjhez® on Tue Mar 31, 2009 12:24 pm

slayer wrote:The problem sir is it was turned over to the cashier for reimbursement by the bidder later. it has implications on it?

Thanks again
What seems to be the problem? Is the bidder supposed to be awarded? If not, and the prescribed period of filing motions and protests were already past due, then there should be no problem at all. Very Happy


By the way: If Q&A members in this forum seemed to be both online, let us use the CHAT BOX if both shall be available for chatting.
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