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Bid Security and Bid Securing Declaration: Similarities and Differences

The Procurement ClassRoom

APRIL 24, 2016

During the bidding process, it is customary to require interested bidders to provide a bid security or bid securing declaration along with their bid. It is a notarized sworn statement made by a bidder committing to sign the contract if they are selected before the end of the bid validity period stipulated in the bidding documents.

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Bid Security and Bid Securing Declaration: Similarities and Differences

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