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Tanzania Public Procurement Forum

Bridging gaps and breaking walls for a better understanding of Procurement Act and Regulations

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» HOW TO REGISTER A COMPANY FOR PPRA PROCUREMENTS
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyWed Dec 18, 2019 9:13 pm by yohanaamon@yahoo.com

» Is non-submission of invalid CRB receipt voucher a major deviation?
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyTue Dec 17, 2019 1:00 am by RJM

» MAKANDARASI KUWEKWA NDANI KWA KUTOKAMILISHA MIRADI NDANI YA MUDA
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyTue Dec 17, 2019 12:46 am by RJM

» How Supplier can register in e-Procurement system (TANePS)
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyThu Dec 12, 2019 5:48 am by pms

» Kukosekana risiti ya ununuzi wa tenda
Bid Security – Fixed Sum or Percentage of a Bid Price EmptySat Apr 27, 2019 6:05 pm by ALLY MUNIR

» IS IT TIME TO THINK OF DEACTIVATING TENDER BOARDS AND INTRODUCE A MECHANISM OF PROCUREMENT PROFESSIONAL OPINION?
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyThu Apr 11, 2019 3:40 pm by pms

» e-Procurement System is now operational
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyThu Apr 11, 2019 3:14 pm by Admin

» TENDA ZINAPOKOSA WAOMBAJI
Bid Security – Fixed Sum or Percentage of a Bid Price EmptyThu Jan 10, 2019 10:42 pm by thanksme

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Bid Security – Fixed Sum or Percentage of a Bid Price

3 posters

Tanzania Public Procurement Forum :: PUBLIC PROCUREMENT ACT AND REGULATIONS :: Procurement of Goods, Works and Non Consultancy Services

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Bid Security – Fixed Sum or Percentage of a Bid Price Empty BID SECURITIES AS FIXED AMOUNT VS AS A PERCENTAGE OF THE BID

Post  freddy.mbeyella Thu Jun 23, 2011 9:07 pm

I do agree with suthman's point of view. Bid security in fixed amount has numerous benefits. Just to mention a few: it makes life easier for PEs and bidders - no need for computation; it solves the problem of unscrupulous bidders who collude with financial institutions issuing bid security to fix price, does not tie substantial amount of money; rate of non-responsive bidders due submission of insufficient security is minimized etc

freddy.mbeyella

Posts : 74
Join date : 2009-08-25

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Bid Security – Fixed Sum or Percentage of a Bid Price Empty Bid securities as fixed amount Vs As a percentage of the bid

Post  suthman Wed May 25, 2011 12:51 am

In my opinion from the bidders point of view and convenience, it is better that the bid securities are expressed as a fixed amount than a percentage of the bidder's bid price.

suthman

Posts : 3
Join date : 2011-05-25
Location : Kampala, Uganda

http://www.ppda.go.ug

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Bid Security – Fixed Sum or Percentage of a Bid Price Empty Bid Security – Fixed Sum or Percentage of a Bid Price

Post  RJM Tue May 10, 2011 3:03 pm

There are arguments going on that to instruct bidders to submit bid securities as a Fixed Sum is more convenient to procuring entities than a Percentage of their Bid Prices.

What is your take on this?
RJM
RJM

Posts : 260
Join date : 2009-07-30
Age : 73
Location : What is written without effort is in general read without pleasure

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