The primary purpose of Performance Security in Government procurement is to:
Type: MCQ • Marks: 1
The primary purpose of Performance Security in Government procurement is to:
Options
A. Encourage suppliers to submit bids
B. Secure due performance of the contractual obligations by the successful supplier
C. Finance the procurement process
D. Replace inspection of goods
Explanation
Performance Security protects the procuring entity against specified risks arising from failure of the successful contractor/supplier to perform contractual obligations.
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UPSC Principal & Vice PrincipalManagement Finance Administration
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