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Bid Security 2

  1. A Procuring Entity (PE) initiated procurement proceedings for the procurement of computers, where there was a requirement for the submission a bid security in the form of a Manager’s Cheque; 
  2. Two companies deviated from this requirement;
  3. One company submitted a Tender Bond from an insurance agency and the other submitted a bid guarantee from a bank in the required amount.
  4. The PE advanced that it was specifically stated in the bid document that a bid security must be submitted in the form of a Manager’s Cheque; and thus required guidance on how to proceed.
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