bidder shall furnish, as a part of his bid, a Bid Security in an
amount of Rs. 50 Lakhs (Rupees Fifty Lakhs only ... last date for
submission of the bid.
7.2. A bid not accompanied by an acceptable bid security shall be rejected
by National Highways Authority
Clause 2.20.6 of) the bid document, the 2nd
respondent is entitled to forfeit and appropriate the bid security as
damages in the various contingencies specified ... terms of Clause 2 of the bid document. He further submitted that, as a
matter of fact, bid security amount deposited by the petitioner
letter of acceptance.
30. Performance Security/Security Deposit
30.1 Security Deposit shall consist of two parts:
a. Performance Security to be submitted at award ... bid security deposited in the form of
demand draft shall be adjusted against the initial security
deposit.
If the performance security is provided
Since the respondent's
5
bid was the highest bid among the bids submitted pursuant to the
Bid Notice dated 31.12.2008, a letter ... bid validity in violation of the above-mentioned
agreement in paragraph 8 of the offer/bid, the full value of Bid
Security was liable
bid was substantially responsive bid and lowest evaluated bid. They have the necessary experience and expertise to perform the contract satisfactorily. Further, the bid ... petitioner's bid was under consideration and the request to extend the bid till 2.4.1993 and consequent bid security till
Security
2.20.1 The Bidder shall furnish as part of its Bid, a Bid Security
referred to in Clauses 2.1.7 and 2.1.8 hereinabove in the form ... bid is a non-responsive bid, the damages are
restricted to 5 per cent of the value of the bid security. The question,
thus, arises
submits the lowest
evaluated bid does not accept the correction of errors, its bid shall be
disqualified and its bid security may be forfeited ... submitted the
lowest evaluated bid does not accept
the correction of errors, its Bid shall
be disqualified and its bid security
may be forfeited
techno-commercial bids
and financial bids, at the initial stage itself. At the time of submitting
the bid, a bid security was to be furnished ... forfeited:
a) If the bidder withdraws his bid during the
period of bid validity specified in the bid/EOI
document or
b) In the case
bids and
out of 10 only 2 bids were held to be responsive in terms of Standard
Bidding Documents and 8 bids were declared ... difference between Performance Security
and Bid Security? Can Performance Security be a substitute to
the Bid Security and can the submission of the former
bid document and it must be delivered along with the bids. It was also stipulated that the above said bid security amount should be enclosed ... Procedure for Bidding contained in 'RFP' specifically mentions to the effect that any bid submitted without the Bid Security in the form
