https://www.gao.gov/products/103296

B-189025: Aug 15, 1977

A protester asserted that the contracting officer acted improperly in rejecting his bid on the basis of a preaward finding that he was not financially responsible. The determination of nonresponsibility was upheld because bidder was shown to be technically insolvent and his line of credit was fully extended, but the award does not have to be withheld interminably to permit bidder to cure the cause...

https://www.gao.gov/products/441979

B-189025: Aug 15, 1977

CONTRACTING OFFICER'S DETERMINATION THAT APPARENT LOW BIDDER WAS NOT RESPONSIBLE DUE TO UNSATISFACTORY FINANCIAL CAPACITY IS UPHELD BECAUSE FINANCIAL ANALYSIS. SHOWED THAT BIDDER WAS TECHNICALLY INSOLVENT AND BECAUSE BIDDER'S LINE OF CREDIT WAS FULLY EXTENDED. SA WAS THE LOWEST EVALUATED BIDDER FOR ONE GROUP OF ITEMS UNDER THE IFB. THE PROCURING ACTIVITY HAD NOT DONE BUSINESS WITH THE PROTESTER AN...