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Annex 1 Bid Form for Security Services for CY 2022 Security services on a 24hour daily basis (night and day shifts), including Saturdays, Sundays and holidays, to secure PSA RSS DAVAO REGION, PSA

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What is bid proposal form security?

Bid proposal form security is a financial guarantee provided by a bidder to ensure they will fulfill the terms of a contract if awarded.

Who is required to file bid proposal form security?

All bidders participating in a competitive bidding process are typically required to file bid proposal form security.

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Bidders must typically provide a certified check, bond, or other financial instrument as bid proposal form security.

What is the purpose of bid proposal form security?

The purpose of bid proposal form security is to protect the project owner from financial loss in case the winning bidder fails to fulfill their obligations.

What information must be reported on bid proposal form security?

Bid proposal form security typically includes the bidder's name, contact information, and the amount of the security provided.

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