Bid security is primarily intended to:

Type: MCQ • Marks: 1

A. Guarantee the quality of every product forever

B. Discourage frivolous or non-serious bidding and protect the procuring entity against specified bidder defaults

C. Replace performance security

D. Serve as the supplier's profit

Explanation

Bid security, where applicable, protects the procuring entity against certain pre-contractual defaults.

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UPSC Principal & Vice Principal Management Finance Administration

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