B-213313: Apr 24, 1984

A firm protested the rejection of its bid under a Navy solicitation. The Navy rejected the bid because one of the sureties listed on the protester's bid bond: (1) did not have a sufficient net worth because of other obligations; and (2) failed to disclose information bearing on its net worth. The protester contended that the Navy's inquiry into the surety's net worth was arbitrary and conducted in...

B-213313: Apr 24, 1984

DIGEST: ALLEGATION THAT FINDING OF SURETY UNACCEPTABILITY WAS MADE IN BAD FAITH IS WITHOUT MERIT WHERE RECORD DISCLOSES REASONABLE BASIS FOR AGENCY DETERMINATION THAT INDIVIDUAL SURETY DID NOT POSSESS SUFFICIENT ASSETS. BARCLAY'S BID WAS REJECTED BECAUSE THE NAVY DETERMINED THAT ONE OF THE INDIVIDUAL SURETIES ON ITS BID BOND DID NOT HAVE A SUFFICIENT NET WORTH IN VIEW OF THAT SURETY'S OUTSTANDING...