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BIDS AND AWARDS COMMITTEE SECURITY PLANT COMPLEXINVITATION TO BID 1. The Bangkok Central NG Filipinas (BSP), through its Bids and Awards Committee Security Plant Complex (BASIC), invites Bidders to
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Bids and awards committee security refers to the security deposit required by government agencies from bidders to ensure they participate seriously in the bidding process.
All bidders who wish to participate in government procurement projects are required to file bids and awards committee security.
Bidders need to accomplish the required forms provided by the procuring entity and submit the security deposit either in cash or through a surety bond issued by an accredited bonding company.
The purpose of bids and awards committee security is to ensure that bidders are serious and financially capable of participating in government procurement projects.
The bids and awards committee security must include details such as the name of the bidder, amount of security deposit, form of security (cash or bond), and the specific procurement project being bid for.
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