Navigation
 Portal
 Index
 Memberlist
 Profile
 FAQ
 Search
Latest topics
December 2016
MonTueWedThuFriSatSun
   1234
567891011
12131415161718
19202122232425
262728293031 

Calendar Calendar

Statistics
We have 862 registered users
The newest registered user is oshe

Our users have posted a total of 1208 messages in 336 subjects
Who is online?
In total there are 3 users online :: 0 Registered, 0 Hidden and 3 Guests

None

[ View the whole list ]


Most users ever online was 32 on Fri Mar 08, 2013 10:22 pm

LOST BID SECURITY

View previous topic View next topic Go down

Re: LOST BID SECURITY

Post  RSM on Fri Jul 15, 2011 1:41 pm

RJM + nkinyanjui

May be I am naive here. Why should the PE refund the whole amount of bid security which was in a form of Bank Guarantee?

May be you need to elighten me on what is Bank Guarantee? When I say someone submitted a Bank Guarantee for USD 200,000/- does this mean that this person submitted USD 200,000 to me?

RSM

Posts : 150
Join date : 2009-08-11

View user profile

Back to top Go down

Re: LOST BID SECURITY

Post  nkinyanjui on Wed Jul 13, 2011 2:10 pm

The unsuccessful bidder should be paid back. The thing is once the bid security was submitted, it was in the jurisdiction of PE. The agreement was that unsuccessful bidders are to get their bid securities refunded. The bidder was unsuccesful so he should have his bid security refunded. Anyway, its quite a shame because unfortunately it reflects badly on doing business with the country as a whole.
http://naomikinyanjui.wordpress.com

nkinyanjui

Posts : 9
Join date : 2011-06-21

View user profile

Back to top Go down

LOST BID SECURITY

Post  RJM on Tue Jul 12, 2011 5:31 pm

This has happened!

PE has admitted that the bid security in form of Bank Guarantee amounting to USD 200,000 is missing. In fact the bidder was informed this when he was notified that his bid was unsuccessful and he should come to collect his bid security. The bidder is coming from Canada. PE after searching everywhere without success they informed the bidder that they are going to write a letter to the bank issued the security; first to inform them about the missing security and second to release the said amount. On the other hand the bidder does not agree with PE’s suggestions and he is insisting PE should pay him the same amount otherwise he is going to file the case.

What is your take on this?

RJM

Posts : 256
Join date : 2009-07-30
Age : 66
Location : What is written without effort is in general read without pleasure

View user profile

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum