Why should Bid Security not ordinarily be forfeited merely because a b

Type: MCQ • Marks: 1

Why should Bid Security not ordinarily be forfeited merely because a bidder was unsuccessful?

A. Its purpose is to protect against specified defaults, not to penalise unsuccessful competition

B. Losing a tender is a criminal offence

C. Bid security belongs to the auditor

D. It is always a charitable contribution

Explanation

Competitive procurement requires that genuine bidders not be penalised simply for failing to win.

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UPSC Principal & Vice Principal Management Finance Administration

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Why should Bid Security not ordinarily be forfeited merely because a bidder was unsuccessful?