Withdrawing a bid after being declared the winner may grant the tender committee the authority to forfeit the bid guarantee
Public Law, Elections Law and Tenders
Dispute Resolution
A bidder that won an Israel Land Authority tender for a lease of a plot withdrew its bid, contending that essential information regarding the scope of building rights had been concealed. The tender committee forfeited ILS 400,000 of the bid guarantee (approximately 25% of the total guarantee). The Court rejected the petition and held that […]