The meaning of bid security
Bid bond refers to the written guarantee issued by the bank, which is generally required by the tenderer to submit the bid documents to ensure that the bidder shall not cancel the bid documents and conclude a contract with the tenderer without justifiable reasons after winning the bid.
Frequently asked questions on bid guarantee
1. How to check the authenticity of the letter of guarantee?
1. The guarantee has a guarantee number. You don't need to go to the bank, you can call directly with the bank contact information on file.
2. You can call the customer service phone of the bank, switch to the manual service, check the bank phone number of the letter of guarantee, call the phone number of the letter of guarantee again, and make a trip to check the authenticity.
3. For example, CCB can check the authenticity of the letter of guarantee through the message system of each branch and the internal system of the bank.
2. What are the advantages of bank bid guarantee?
1, in order to save the cash flow of enterprises, most of the bid bond should be returned after the bid opening, especially some projects should be returned after the first bidder wins the bid and signs the contract, which will delay the time. The bank guarantee will automatically become invalid after it expires, and there is no need to return it.
2. Many enterprises bid, which saved a lot of money and went through the refund procedures.
3. After winning the bid for some projects, the bid bond will be converted into performance bond. Both bidding and performance are guaranteed by banks, which saves costs.
3. Are there any special requirements for bank bid guarantee?
Some banks' bid guarantees require driving to basic account. At present, only the letter of guarantee of basic households can be operated in CCB. In addition, some letters of guarantee need special format and need to communicate with the bank.
4. What should I do if I need to rush it?
The fastest way to deal with it is to send the letter on the same day, SF Express and deliver it the next day. Some customers with urgent needs can choose air express.
5. Which banks can issue bid guarantees?
At present, banks that can issue bank guarantees mainly include China Construction Bank, Shanghai Pudong Development Bank, Asian Development Bank and village banks. As an established bank, CCB has the widest application scope, the highest user recognition and the highest fees.
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