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Bid cancellation is the decision to terminate the bidding process due to many different reasons. This decision may come from the bidding party or due to objective factors. This article will present details about bid cancellation cases, bid cancellation process from January 15, 2025, consequences and bidding consulting solutions at Long Phan.
Bid cancellation is the termination of contractor selection activities before signing a contract. According to the Law on Bidding 2023, cancellation of bids can only be done in certain specific cases and must follow strict procedures. The decision to cancel the bid can be made by the bidding party or at the request of a competent state agency.
Bid cancellation is different from “bid cancellation”. Cancellation of bidding applies when the bidding process has serious violations, requiring the bidding to be re-started from the beginning. Canceling a bid usually does not require re-bidding, except in special circumstances.
Understanding the regulations on bid cancellation helps bidding parties protect their legal rights and avoid unnecessary disputes.
The Law amending the Law on Planning, Law on Investment, Law on Public-Private Partnership Investment and Law on Bidding 2024 has added a number of new cases of bid cancellation, effective from January 15, 2025. Specifically, in addition to the cases specified in Clauses 1 and 2, Article 17 of the Law on Bidding 2023, there will be additional cases of bid cancellation as prescribed in Clause 5, Article 42 of the Law on Bidding 2023, amended and supplemented in 2024. Accordingly, cases of bid cancellation from January 15, 2025 will include:
The bid cancellation process is specifically regulated in the Law on Bidding 2023. After the decision to cancel the bid, the bid solicitor must notify all participating bidders and publicize the information on the National Bidding Network System.
Contractors have the right to appeal the decision to cancel the bid if they believe that the decision is not in accordance with the law.
The bid cancellation process includes the following basic steps:
Cancellation of bids causes many consequences for both the bid solicitor and the contractor.
For the bidding party, canceling the bid slows down the project progress, affects reputation and may require compensation to the contractor.
For contractors, canceling bids wastes time, effort and costs of participating in bidding. Contractors may also lose business opportunities.
To minimize the consequences of bid cancellation, the parties need to firmly understand the law, follow the correct process and carefully evaluate the documents before making a decision.
Long Phan is a reputable unit with a team of experienced experts in the field of bidding. We provide full bidding consulting services for customers, including:
Long Phan commits to accompanying customers, helping customers successfully implement bidding projects, ensuring legal rights and economic efficiency.
Bid cancellation is a complex issue, requiring a deep understanding of the Law on Bidding and its guiding documents. For detailed advice and professional support, please contact Long Phan via the hotline 0906735386. Thank you!
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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