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 80 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
Wow, this really help

T4T

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Ionic Bond Ionic Bond
Energy is released from the breaking of the phosphate bond in ATP when converting to ADP. Energy is released from the breaking of the phosphate bond in ATP when converting to ADP.
Covalent and noncovalent bond energies Covalent and noncovalent bond energies
Peptides and the Peptide Bond Peptides and the Peptide Bond
Industry is responsible for 21% of global greenhouse gas emissions Industry is responsible for 21% of global greenhouse gas emissions
Frederick Griffith’s experiment identifying a ″transformation factor″ responsible for heredity Frederick Griffith’s experiment identifying a ″transformation factor″ responsible for heredity
Video: Polysaccharides

For a complete list of videos, visit our video library