B-224437: Sep 15, 1986

A firm protested the Navy's refusal after award to accept irrevocable letters of credit in lieu of bid bonds under a demolition contract, contending that: (1) the Navy informed it that such letters would be acceptable; and (2) the solicitation did not prohibit the use of letters of credit. The Navy refused to accept the letters because they would have expired before contract completion. GAO held t...

B-224437: Sep 15, 1986

CONTRACTS - PROTESTS - AUTHORITY TO CONSIDER - CONTRACT ADMINISTRATION MATTERS DIGEST: WHETHER IRREVOCABLE LETTERS OF CREDIT TENDERED AFTER CONTRACT AWARD ARE ACCEPTABLE ALTERNATIVES TO SURETIES ON PERFORMANCE AND PAYMENT BONDS INVOLVES A MATTER OF CONTRACT ADMINISTRATION NOT COGNIZABLE UNDER GENERAL ACCOUNTING OFFICE BID PROTEST REGULATIONS. AWARD WAS MADE TO ALBERT ON JUNE 27. THE NAVY REFUSED T...