Business StandardCenter·
Govt mandates scrutiny of 'abnormally low bids', sets 30% threshold
The finance ministry has made it mandatory for government agencies to scrutinise bids quoting prices more than 30 per cent below the estimated cost in a government procurements, tightening checks on abnormally low bids to safeguard service and product quality. The Department of Expenditure under the ministry has defined Abnormally Low Bids (ALBs) in government procurement, mandating scrutiny of bids falling below the prescribed threshold and seeking written clarifications wherever "concerns" ar…
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