bid validity period

Procurement bids have an initial validity period generally of three months, sometimes six months, which means the procurement award process must be completed within that bid validity period to avoid compromise of the tender process.

“The bids that we have been looking at in the context of this inquiry have been bids with an initial bid validity period of, I think, three months, possibly six months in one case. That presupposes that your procurement process from date of submission of bid to date of award can be comfortably achieved within that bid validity period, because if it cannot be achieved within that bid validity period, then you run the risk of having tender processes that get compromised because the extension to the bid validity period is not unanimously agreed by bidders.”