Which of the following best describes forfeiture of Bid Security?

Type: MCQ • Marks: 1

A. Automatic punishment for every unsuccessful bidder

B. Appropriation of the security in circumstances specifically provided by applicable procurement rules/tender conditions

C. Transfer of the security to the lowest bidder

D. Conversion into Government salary expenditure

Explanation

Forfeiture should have a prescribed contractual/rule-based basis.

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UPSC Principal & Vice Principal Management Finance Administration

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