Acceptance of Bid and Procurement Contract

Sub-Section 1

The Public Entity shall select for acceptance only the lowest evaluated substantially responsive bid in accordance with Section 25.



Sub-Section 2

Within seven days of the selection of the bid pursuant to Sub-section (1), the Public Entity shall serve a notice of the intent of acceptance of his or her bid to the concerned bidder. Information regarding the name, address of the bidder whose bid has been so selected and the price of the bid shall also be communicated to the other bidders.



Sub-Section 3

If no bidder makes an application pursuant to Section 47 within a period of seven days of providing the notice under Sub-section (2), the bid of the bidder selected pursuant to Sub-section (1) shall be accepted and a notice shall be communicated to the bidder to furnish the performance security to conclude the procurement contract within fifteen days.



Sub-Section 4

The concerned bidder shall have to furnish the performance security and sign the procurement contract under Section 52 within the period set forth in Sub-section (3).



Sub-Section 5

If the bidder fails to furnish the performance security and sign the procurement contract within the period under Sub-section (3), the bid security of that bidder shall be forfeited, and the bid of the other immediately next lowest evaluated substantially responsive bidder shall be accepted and the procurement contract concluded.



Sub-Section 6

If even the bidder under Sub-section (5) fails to furnish the performance security and sign the procurement contract, the bid of the other

immediately next lowest evaluated substantially responsive bidder respectively, shall be accepted, and a notice shall be served to that bidder for concluding the procurement contract pursuant to this Section.



Sub-Section 7

If, within thirty days of the communication of the notice as referred to in Sub-section (2), any bidder whose bid has been rejected requests for grounds for the rejection of its bid, the Public Entity shall have to communicate such information to that bidder.