BID MISTAKES: A PRACTICAL APPROACH TO THE PROBLEM

Although unilateral mistakes of the bidder cannot be corrected, most states allow some form of equitable relief, such as return of the bidder's deposit, in certain cases. A strict approach has been adhered to in a few jurisdictions, requiring a forfeiture of the proposal quarantee upon refusal to execute a contract, no matter what the nature of the mistake and regardless of whether the government has suffered any damage. Both approaches are discussed in this paper. A few common situations are analyzed and a few selected cases are discussed at some depth. Ways in which the procedure for handling bid mistakes may be simplified are suggested.

Language

  • English

Media Info

Subject/Index Terms

Filing Info

  • Accession Number: 00178348
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Aug 31 1998 12:00AM