Requesting Entity: Airfreight 2100, Inc.

Issues Concern: Extension of Bid Security Validity Period

Details

Necessity of extending the validity period of a bid security if the bid opening was postponed for two (2) weeks

[I]t is not necessary to extend the bid security validity period if the bid opening was postponed for two weeks, unless the PE requests in writing to extend such period and the bidder still intends to continue its participation in that specific procurement. It cannot be overemphasized that the PE cannot award and enter into a contract with a winning bidder whose bid and bid security have already lapsed.