Is the bid guarantee situation valid or invalid?

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What is a bid guarantee?

6 cases of invalid bid guarantees

• Has a lower value than required in the bidding notice;
• The validity period is shorter than the requirements specified in the bidding documents;
• The name of the beneficiary is not correct, the name of the beneficiary is the name of the Procuring Entity (please note that it is the Procuring Entity, not the Investor).
• No valid signature;
• Sign before the Procuring Entity releases the bidding documents;
• There are conditions that are disadvantageous to the Investor and the Procuring Entity (including failure to fully meet the sample commitments).

The bid guarantee has the wrong address

• The contractor's bid guarantee, although the address is wrong, still has the correct name of the beneficiary as the bidding party (there is no possibility of there being another beneficiary with the same name in Lao Cai province, because in the bid guarantee clearly state that the beneficiary is: Management Board of the administrative and political center of Lai Chau province), the address is not a condition that causes disadvantages to the bidding party. The bidding party needs to determine that the purpose of bidding is not to eliminate contractors, but to find the contractor that best meets the requirements of the bidding party and meets the objectives of the bidding, so the bidding party should The contractor can consider this as the contractor's negligence and allow the contractor to correct the bid guarantee to the correct address of the bidding party.
• Analyzing further, according to the law, the beneficiary here is correct, the name constituting the beneficiary does not include the address of the beneficiary. In the case of a generic beneficiary name, it is possible that any locality has this name, so confusion can easily occur, but in this case there is absolutely no such factor.

What is even more unfortunate here is that this contractor is the contractor offering the most competitive price compared to the remaining contractors. We also checked this contractor on the DauThau.info system through the VIP3 software package for Seeing that I have participated and won many bidding packages, it proves that my ability to actually participate is not "bad". However, through this article we also warn that contractors about to participate in bidding packages can easily be eliminated from the bidding if they are not careful in the bid guarantee preparation step. When receiving a guarantee from the bank, you need to read and review the 6 contents we listed above to avoid unfortunate errors.

Our above article analyzes a specific case of whether a bid guarantee is valid or invalid, and each party's stance on handling a bid guarantee with certain errors. Hopefully the article will be useful not only for contractors but also for the bidding party and the team of experts evaluating bid guarantees with an objective view, ensuring fairness, transparency and economic efficiency for a bid. DauThau.info always accompanies and brings a lot of useful information to interested contractors. If you need support, please contact:

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