A successful bidder refuses to enter into the contract or fails to furnish required performance security within the pres...
Type: MCQ • Marks: 1
A successful bidder refuses to enter into the contract or fails to furnish required performance security within the prescribed period, where the tender conditions provide for such consequence The procuring entity may:
Options
A. Ignore the default
B. Take the prescribed action, which may include forfeiture of Bid Security
C. Pay the bidder compensation
D. Automatically increase the contract price
Explanation
Such post-award defaults are among the circumstances that may be covered by bid-security provisions.
Want to attempt the full test series with a timer and instant score? Purchase the package to unlock the complete test.
Purchase Now
UPSC Principal & Vice PrincipalManagement Finance Administration
Practice more
This page is indexed for search so students can find questions directly from Google.
