https://www.gao.gov/products/118703

B-203608: Jun 15, 1982

A firm protested the award of a contract under an invitation for bids (IFB) issued by the General Services Administration (GSA) for custodial services. The protest stemmed from the rejection of the protester's bid as nonresponsive based on the financial inadequacy of one of the individual sureties listed on the protester's bid bond. The protester contended that it was unreasonable for GSA to accep...

https://www.gao.gov/products/468909

B-203608: Jun 15, 1982

BONDS - BID - SURETY - MORE THAN ONE - NET WORTH REQUIREMENTS - PROPRIETY AGENCY'S REQUIREMENT THAT BOTH INDIVIDUAL SURETIES ON A BID BOND HAVE NET WORTHS IN EXCESS OF THEIR TOTAL OUTSTANDING SURETY OBLIGATIONS IN ORDER TO BE DEEMED ACCEPTABLE SURETIES IS UNOBJECTIONABLE SINCE IT IS REASONABLY RELATED TO THE PURPOSE FOR WHICH A BID GUARANTEE IS INTENDED. RESPONSIBILITY MATTER QUESTIONS CONCERNING...