TenderHub guide
Bid Security and Bid Bonds in Sri Lanka
Bid security is a financial assurance requested by the procuring entity to protect the tender process. The exact amount, acceptable instrument, validity and beneficiary must come from the current tender document.
Read the instrument requirements exactly
Tender documents may specify a bank guarantee, deposit or another accepted form. Check the currency, amount, validity period, issuing institution and wording before arranging it.
Allow time for verification
Ask your bank or finance team early. A security that has the wrong beneficiary, expiry date or amount can make an otherwise strong bid non-responsive.
Keep the evidence with the bid file
Store the original or approved electronic instrument, receipt and related correspondence with the final submission copy. Follow the tender's instructions for packaging and delivery.
Frequently asked questions
Is one bid-security format valid for every tender?
No. The procuring entity's current tender document controls the acceptable form, amount, validity and submission method.