Bid Security Agreement

A performance guarantee shall be necessary whenever it is clearly established in the tender documents that tenderers must provide a performance guarantee which may, under certain conditions, escape performance which is unsatisfactory for the contracting entity. The tender guarantee shall be charged to the contracting entity if the tenderer: (i) withdraws its tender before the expiry of the period of validity of the tenders, (ii) does not sign the contract after the notification of award or (iii) does not provide, where appropriate, a guarantee of performance. The bid guarantee is intended to deter tenderers from withdrawing their tenders, failing which they would lose the amount of the bid guarantee to the customer. The customer is certain that the selected bidder will sign the contract or lose their bid guarantee. In summary, the offer guarantee is to guarantee the offer and the signing of the contract, and the performance guarantee is to ensure satisfactory performance after the contract is signed. The offer guarantee statement is a non-monetary form of auction guarantee. This is a notarized affidavit from a tenderer who undertakes to sign the contract if he is selected before the expiry of the period of validity of the tender set out in the tender documents. In this affidavit, the bidder agrees to be automatically disqualified, for a specified period, from the bid for future levels of government, if it withdraws its bid or cannot sign the contract before the expiry of the validity of the bid, or cannot, if necessary, provide a guarantee of performance. Your question is an interesting one.

It really depends on the responsiveness. If the tender dossier indicates that a tenderer`s tender is rejected, if he has not submitted the tender guarantee or if the tender guarantee has been presented in a different format than that indicated in the tender document, I would say that yes, the tenderer`s tender should be rejected if the form is different or if the tender guarantee is lacking: even if the bidder is ready, as indicated….