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STANDARD BIDDING DOCUMENT PROCUREMENT OF CIVIL WORKS (Road Works)PART 1: COMPLETE BIDDING DOCUMENT (Valid unto Rs. 1 crore)GOVERNMENT OF HARYANA PUBLIC WORKS (BUILDINGS & ROADS) DEPARTMENTSTANDARD
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Bid security RS is a guarantee provided by a bidder to ensure they will fulfill their obligations if awarded a contract.
All bidders participating in a particular tender or procurement process are required to file bid security RS.
Bid security RS can typically be filled out by submitting a specified form or document provided by the procuring entity, along with the necessary financial guarantee.
The purpose of bid security RS is to assure the buyer that the bidder is serious and capable of fulfilling their obligations if awarded the contract.
Bid security RS usually requires information such as the name of the bidder, the amount of the guarantee, the validity period, and the issuing bank.
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