A supplier submits a Performance Bank Guarantee that cannot be authenticated with the issuing bank The Principal should:

Type: MCQ • Marks: 1

A. Accept it because the supplier is well known

B. Take action according to applicable procurement and contract provisions after verification

C. Release all other securities

D. Ignore the matter

Explanation

The procuring entity must ensure that the security is genuine and enforceable.

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UPSC Principal & Vice Principal Management Finance Administration

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