Refund of Bid Security

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Refund of Bid Security

Post by The Rock_CPA on Tue Jan 21, 2014 3:40 pm

Good pm,

Are the Bid Securities of the lose bidders refundable?

thank you  Very Happy 
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Re: Refund of Bid Security

Post by ajac on Tue Jan 21, 2014 11:55 pm

27.4. Without prejudice to the provisions of the Act and this IRR on the forfeiture of bid securities, bid securities shall be returned only after the bidder with the Lowest Calculated Responsive Bid or Highest Rated Responsive Bid, as the case may be, has signed the contract and furnished the performance security, except to those declared by the BAC as failed or post-disqualified in accordance with this IRR, upon submission of a written waiver of their right to file a motion for reconsideration and/or protest.

Does the highlighted phrase refers to losing bidder?

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Re: Refund of Bid Security

Post by The Rock_CPA on Wed Jan 22, 2014 3:11 pm

yes, the highlighted phrase refers to losing bidder
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