Page 98 - BASIC PRINCIPLES OF QUANTITY SURVEYING PROFESSIONAL PRACTICES

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4.4.4 Tender Validity Period

• The amount of time during which each Tenderer's Tender
Offer must be valid and open for acceptance by the Client is

referred to as the Tender Validity Period.

• The minimum validity period for a tender is ninety (90) days

from the date it is closed. The agency must ensure that the
tender validity time is not excessively extended, as this will

cause the tenderer to increase their offer price.

• Agencies are discouraged from extending the validity time

stated by the tenderer, as this may result in the tenderer
forfeiting his offer. If a tender offer's validity period needs to be

extended, it must be conducted with the Chairman of the

Agency's Procurement Board's consent before the original
validity period expires.

• The following considerations must be considered when

determining a reasonable tender validity period:

i. Timeframe for assessing the technical proposal.

ii. Timeframe for assessing the cost proposal.

iii. Timeframe for evaluating the tenderer's technical

ability.

iv. Timeframe for preparing the tender report and deciding

whether to accept the tender

v. Timeframe for determining and issuing the Letter of

Acceptance to the successful tenderer.

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