A joint venture protested the rejection of its bid as nonresponsive because of alleged deficiencies in the letter of credit furnished as a bid guarantee. A documentary letter of credit did not constitute a firm commitment as required since it was not accompanied by the bidder's signed withdrawal application which would have to be presented to the bank for the letter of credit to be honored...

SINCE LETTER OF CREDIT WAS NOT ACCOMPANIED BY BIDDER'S SIGNED WITHDRAWAL APPLICATION WHICH WOULD HAVE TO BE PRESENTED TO BANK IN ORDER FOR LETTER OF CREDIT TO BE HONORED. THE PROTESTER'S BID WAS REJECTED ON THE BASIS OF TWO ALLEGED DEFICIENCIES IN THE LETTER OF CREDIT FURNISHED AS THE 20 PERCENT BID GUARANTEE REQUIRED UNDER SOLICITATION PARAGRAPHS 21. THE CONTRACTING OFFICER DETERMINED THAT THE PR...