• Oman

    • Oman’s Tender Board Determines Criteria for Exemption from Temporary Bid Security Guarantee

    By on May 17, 2023
    Tender Board 
    Tender Board 

    Muscat: The Tender Board has determined the criteria for exempting bidding companies from providing temporary bid security (bid guarantee), as a condition for taking part in the tender, as this exemption will reflect positively on the competitiveness of companies in government tenders.

    The decision stipulated that companies should be exempted from providing the 1% temporary bid security when submitting their bid for a period of one year.

    This exemption aims at facilitating bidding procedures for tenders, increasing the number of companies taking part in the government tenders, and raising the capabilities of the small and medium enterprises to compete for government tenders as well as encouraging competition in the tendering process in order to obtain the best bids.

    To ensure the seriousness and the capabilities in implementing the bids, the participating company in the tender must sign a document confirming its commitment to the submitted bid proposal for the determined period of the adopted bidding strategy. – ONA

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