What is a Tender Offer?

The bid validity period refers to the period during which bidding documents submitted by bidders are required to remain valid for a certain period of time in order to ensure that bidders have sufficient time to complete bid evaluation, bid determination, and contract signing after bid opening.

Bid validity

Article 29 of the Measures for Tendering and Bidding of Engineering Construction Projects, Article 28 of the Measures for Tendering and Bidding of Goods for Engineering Construction Projects, and Article 46 of the Measures for Tendering and Bidding of Survey and Design of Engineering Construction Projects all stipulate that the bidder shall All bidders can be notified to extend the validity of the bid. Bidders who refuse to extend the validity of bids have the right to recover the bid security. Bidders who agree to extend the validity of bids shall respond to the extension of the validity of their bid guarantees, but shall not modify the substance of the bidding documents. Article 40 of the "Interim Provisions on the Bid Evaluation Committee and Methods of Bid Evaluation", Article 56 of the "Measures for Bidding and Tendering of Construction Projects", Article 47 of the "Methods for Bidding and Tendering of Goods for Construction Projects", and "Methods for Bidding and Tendering of Survey and Design of Construction Projects" Article 46 stipulates that the bid evaluation and bidding activities shall be completed 30 working days before the end of the bid validity period. If it cannot be completed, the bidder shall notify all bidders to extend the bid validity period.