This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: How is an owner compensated when there is a bid bond if the lowest responsible bidder refuses to be ... (Read 42 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: Jul 26, 2018
How is an owner compensated when there is a bid bond if the lowest responsible bidder refuses to be awarded a contract and the project is awarded to the second lowest bidder?
 
  What will be an ideal response?

Question 2

How does the Freedom of Information Act help contractors when they are filing a claim against the government?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nathang24

  • Sr. Member
  • ****
  • Posts: 314
Reply #1 on: Jul 26, 2018
Answer to Question 1

If the lowest responsible bidder refuses to be awarded a contract the owner is compensated by the surety for the difference between the lowest bidder and the second lower bidder up to the bid bond amount.

Answer to Question 2

The Freedom of Information Act helps contractors when they are filing a claim against the government by providing a process for obtaining records kept by the government that pertain to projects that have prompted contractors to file claims.


Melani1276

  • Member
  • Posts: 516
Reply 2 on: Jul 26, 2018
YES! Correct, THANKS for helping me on my review

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

If all the neurons in the human body were lined up, they would stretch more than 600 miles.

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

A double bond between two oxygen atoms A double bond between two oxygen atoms
Directionality of the hydrogen bond Directionality of the hydrogen bond
This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande
A peptide bond configurations, trans and cis (rotation around the CCO-N bond) A peptide bond configurations, trans and cis (rotation around the CCO-N bond)
A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ... A $50 000 bond bearing interest at 5.5% payable semi-annually is redeemable at par on August ...
Frederick Griffith’s experiment identifying a ″transformation factor″ responsible for heredity Frederick Griffith’s experiment identifying a ″transformation factor″ responsible for heredity
Video: A Human Karyotype Preparation Animation

For a complete list of videos, visit our video library