Which statement best distinguishes Bid Security from Performance Security?
Type: MCQ • Marks: 1
Which statement best distinguishes Bid Security from Performance Security?
Options
A. Bid security relates to the bidding stage, whereas performance security relates to contractual performance
B. Both are collected only after successful completion
C. Performance security is submitted by unsuccessful bidders
D. Bid security guarantees product performance after delivery
Explanation
Bid security protects against specified bidder defaults during the tendering stage, while performance security protects the Government during contract execution.
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UPSC Principal & Vice PrincipalManagement Finance Administration
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