Latest topics

Form of Bid Security

View previous topic View next topic Go down

Form of Bid Security

Post by kurpak13 on Mon Feb 18, 2013 1:00 pm

Good day Sir..

1. May I know what is the difference between a bidder's bond and security Bond?
2. As prescribed in the revised IRR for procurement of Goods, only surety bond can be gleaned from the choices as form of bid security and not bidder's bond. Can the BAC DISQUALIFY a supplier/bidder for using bidder's bond as their for of bid security and not surety bond..

can u help me sir/mam on this matter.. tnx and more power

New Member
New Member

Male Number of posts : 3
Company/Agency : batangas city government
Occupation/Designation : Administrative Officer I
Registration date : 2011-10-11

Back to top Go down

Re: Form of Bid Security

Post by attywaws on Mon Feb 18, 2013 3:43 pm

IMO, we should not differentiate the two terms because "Surety Bond" is merely a classification of "Bidder's Bond" which is just "another" term used for Bid Security.

On the basis of the abovementioned argument, the BAC cannot disqualify the supplier/bidder on the basis that they merely used the title "Bidder's Bond" instead of Bid Security. Of course, it's not the same when the "Bidder's Bond" does not at all meet the minimum amount required.
New Member
New Member

Male Number of posts : 45
Company/Agency : Provincial Government of Tarlac
Occupation/Designation : BAC Secretariat - Legal Researcher
Registration date : 2012-08-08

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum