Validity Period of the Bid Security: How Long Is It?

Pursuant to Clause 2, Article 33 of the Law on Investment in the form of Public-Private Partnership 2020 (effective January 1, 2021) stipulating the validity of bid security as follows:

The validity period of the bid security is specified in the bidding documents, which is the validity period of the bid plus an additional 30 days.

Moreover, according to this regulation, the validity period of the bid documents may be extended. To be specific:

In the event of an extension of the validity period of the bid documents, the procuring entity must request the investor to correspondingly extend the validity period of the bid security, provided that the content of the submitted bid documents remains unchanged. If the investor refuses to extend the validity period, the bid documents will no longer be valid and will be disqualified.

For more information on this issue, you can refer to the Law on Investment in the form of Public-Private Partnership 2020 (effective January 1, 2021).

Sincerely!