It is becoming more and more important for companies responding to Government tenders in South Africa, to proof that the company responding, has financial capacity to execute the contract. The reason for this is to safeguard Government Entities against companies being awarded a tender and then failing to execute because of a lack of financial resources.
Underneath is a typical Financial Guarantee requirement we found in a recent Gauteng Provincial Government tender:
By Werner van Rooyen
31 January 2019
Those of you who are familiar with responding to tenders will know that it is common practice for procuring entities to extend the bid price validity period. We received the undermentioned queries regarding the extension of the validity period of the bid price.
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