Regulations for the Establishment of Radio Broadcasting Enterprises Article 28

In any of the following circumstances, the bidder’s posted tender bond shall be reimbursed without interest:1. When a bidder is not qualified for bidding after the examination as described in Paragraph 2 of Article 20, the tender bond will be reimbursed without interest within a fifteen-day period from the following day the regulatory agency announces the list of qualified applicants.2. When a bidder participates in the bidding but has not been awarded with the bid, the tender bond shall be reimbursed without interest within a fifteen-day period from the following day the regulatory agency announces the list of nominated bidders.3. When a bidder participated in bidding has secured a bid and has remitted the winning bid or the initial installment as regulated, the tender bond is to be reimbursed without interest. The nominated bidder may transform the paid bidding bond into a part of its initial installment without interest.Should a bidder encounter one of the following circumstances, the bidder’s posted tender bond shall not be reimbursed, and when it has previously been reimbursed, it shall be subject to retroactive recuperation:1. A bidder, upon being awarded with the bid, fails to remit the winning bid in one lump sum or remit the first installment of the winning bid and post the guarantee for the remainder of the winning bid and interest.2. A bidder is revoked of or has lost competitive bidding qualification as described in Article 24.