Is getting a bank guarantee a big issue for you? Perhaps you have been involved with a procurement activity that had poor performance because of a lack of bidders submitting their bank guarantee documents?
One thing i have seen in certain procurements is that the bidders fail to pass the evaluation because they are not able to submit ther bank gurantees. Is it that private sector in developing economies need to be educated more about how to carry out business with public sector?
I think many fail to know how to handle this situation because yes they would like to submit their bid for the contracting works or services but on the other hand they do not qualify because of the bank guarantee which may be a criteria in the bid documents.
How can private sector organisations prepare themselves better with regards to their bank guarantees inorder to make it past the first evaluation process? Have you gotten any experience on this?
Would like to hear your experiences on the same…