Regulations for Bid Bond, Guarantee Bond and Other Guarantees Article 6

Where the tender documentation requires a supplier to deposit a bid bond, it shall also prescribe that the supplier shall deposit the bid bond, prior to the closing time for submission of tenders, to a designated place of receipt or a designated account held with a financial institution. Except for cash, a supplier may send the bid bond by enclosing it in the tender.Where the tender documentation requires a supplier to deposit a guarantee bond or provide other guarantees, it shall also prescribe the deadline for deposit and place of receipt or account held with a financial institution.Where a supplier deposits a bid bond or guarantee bond in the form of a financial institution’s pledged certificate of deposit, a designated depositing financial institution shall not be required as a restriction; where a supplier requests for creation of pledge at a financial institution, the pledgee shall not be required to undertake such action jointly.A bid bond or guarantee bond may be deposited via electronic means approved by the responsible entity.