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...