In a tender the bidders were required to attach a bidder check as a guarantee for the benefit of the tender holder. The bidder company recently changed its name and the check carried its previous name.
The Court held that one must be precise with the terms of the tender to ensure maximum accuracy and compliance with the requirements of tenders rules and language of the guarantees, and avoid any slippery slope and unwanted out-of-line flexibility in the tender committees. The Court disqualified the bid and held that the company’s signature rights protocol demands signature together with the company stamp or printed name and because the name is no longer the name of the company, the check does not carry the “company’s printed name" and thus was not duly signed by the company and the bid was disqualified