Bid Bond

Procuring entities require bid security to ensure that only serious bidders participate. The bid bond is usually a fixed amount or a small percentage of the estimated contract value, as set in the bidding documents, and must remain valid for a period beyond the bid validity.

The beneficiary can claim the bid bond if the bidder:

• withdraws or modifies the bid during its validity period;
• refuses to accept arithmetical corrections; or
• after being awarded the contract, fails to sign it or to furnish the required performance guarantee.

Unsuccessful bidders' bid bonds are released after the contract is awarded, and the successful bidder's bond is released once the performance guarantee is submitted and the contract signed.

For the bank, a bid bond is a short-term contingent liability. Since many bids are unsuccessful, the actual risk is usually low, but the bank still assesses the customer and takes margin or collateral.

In Nepal, bid security is required under the Public Procurement Act, 2063 and Public Procurement Rules for many government contracts, and is commonly provided as a bank guarantee from a BFI.

गम्भीर बोलपत्रदाता मात्र सहभागी हुन खरिदकर्ताले बोलपत्र जमानत माग्छ। रकम प्रायः निश्चित वा अनुमानित लागतको सानो प्रतिशत हुन्छ र बोलपत्र मान्य अवधिभन्दा केही बढी अवधिसम्म बहाल रहनुपर्छ।

बोलपत्रदाताले मान्य अवधिमा बोलपत्र फिर्ता/परिवर्तन गरेमा, गणितीय सुधार अस्वीकार गरेमा वा ठेक्का पाएपछि सम्झौता नगरेमा वा कार्यसम्पादन जमानत नदिएमा जमानत जफत हुन्छ।

असफल बोलपत्रदाताको जमानत ठेक्का दिएपछि र सफलको कार्यसम्पादन जमानत बुझाई सम्झौता भएपछि फुकुवा हुन्छ। बैंकका लागि यो अल्पकालीन सम्भावित दायित्व हो। नेपालमा सार्वजनिक खरिद ऐन, २०६३ र नियमावलीअनुसार सरकारी ठेक्कामा अनिवार्य हुन्छ।