{"id":17919,"date":"2021-08-12T21:15:50","date_gmt":"2021-08-13T02:15:50","guid":{"rendered":"https:\/\/projectcalls.com\/dev?p=17919"},"modified":"2021-08-26T10:31:00","modified_gmt":"2021-08-26T15:31:00","slug":"bid-security-removed-for-state-projects-under-7m","status":"publish","type":"post","link":"https:\/\/projectcalls.com\/dev\/bid-security-removed-for-state-projects-under-7m\/","title":{"rendered":"Bid security removed for state projects under $7M"},"content":{"rendered":"<p>As he underscored that government will keep implementing policies across the board for small businesses\u2019 growth, Minister with responsibility for Finance Dr Ashni Singh says that the bid security for contracts under $7 million has been removed and he lauded the increased participation of small contractors in the public bidding process.<\/p>\n<div class=\"in-article mbo\">\n<div class=\"in-article-wrapper\"><\/div>\n<\/div>\n<p>He explained that as government works to ensure that at least 20% of state contracts go to small contractors, the National Procurement and Tender Administration Board (NPTAB) implemented a system where those bidding will now sign a self-declaration form guaranteeing their commitment for contracts $7 million and under, instead of the previously required bid security.<span id=\"more-631922\"><\/span><\/p>\n<figure id=\"attachment_631928\" class=\"wp-caption alignleft\" aria-describedby=\"caption-attachment-631928\"><figcaption id=\"caption-attachment-631928\" class=\"wp-caption-text\">Tarachand Balgobin \u201cWe feel that the small businesses of today are the medium and large businesses of tomorrow and as they are helped, we would see more and more small entrepreneurs entering the economic space here. Government has taken a number of steps to make it easier for small businesses to participate in the bidding process. NPTAB, for example, has taken a number of steps to simply encourage more and more participation in the public procurement process,\u201d Dr. Singh told the Sunday Stabroek in an interview.<\/figcaption><\/figure>\n<p>\u201cWe actively believe in promoting small businesses, and that is across board with assistance, as you will see, from the Small Business Bureau\u2026and other agencies as I have listed, such as NPTAB et cetera, all playing their part to encourage small entrepreneurs,\u201d he added.<\/p>\n<p>Dr Singh pointed to works done under current Chairman of NPTAB Tarachand Balgobin, such as small businesses being given a 5% advantage in bidding and the removal of the bid security.<\/p>\n<p>Balgobin noted that in order to acquire bid security, a contractor would have to go to the bank or to an insurer to secure a guarantee. \u201cFor the bank to give you that bid security, you would have to have collateral; some assets. If you don\u2019t have that asset base, but you have the skill, the competency, the experience, the papers and all of that, you still wouldn\u2019t qualify. You would not have qualified. But we have taken that off,\u201d he explained to this newspaper.<\/p>\n<p>He continued, So now you have what is called a Bid Securing Declaration. You don\u2019t have to find any money. All you have to do is to sign a declaration that is incorporated in the bid, which says that if you don\u2019t comply\u2014as in the same way you would have had a bid security\u2014you are voluntarily saying to the government \u2018Throw me out\u2019\u201d.<\/p>\n<div class=\"in-article mbo\">\n<div class=\"in-article-wrapper\"><\/div>\n<\/div>\n<p>The NPTAB Chairman said that in the same way that a defaulting contractor would lose the bid security, with the declaration process they would accept liability to be penalised by government, which could extend to their ability to be considered for future contracts.<\/p>\n<p><strong>\u2018Margin of preference\u2019<\/strong><\/p>\n<p>In March of this year, Balgobin had explained that to allow small businesses access to 20% of government procurement, the NPTAB had implemented a 5% margin of preference to those businesses that qualify under law.<\/p>\n<div class=\"in-article\">\n<div class=\"in-article-wrapper\"><a href=\"https:\/\/www.stabroeknews.com\/2021\/07\/18\/news\/guyana\/bid-security-removed-for-state-projects-under-7m\/\" target=\"_blank\" rel=\"noopener\">more\u00a0<\/a><\/div>\n<div><\/div>\n<\/div>\n<div><em>image:pexels-kindel-media<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>As he underscored that government will keep implementing policies across the board for small businesses\u2019 growth, Minister with responsibility for Finance Dr Ashni Singh says that the bid security for&#8230;<\/p>\n","protected":false},"author":1091,"featured_media":17920,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[112],"tags":[128,190,116,224],"class_list":["post-17919","post","type-post","status-publish","format-standard","has-post-thumbnail","category-newsdevelopments","tag-bids","tag-construction","tag-guyana","tag-project"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2021\/08\/pexels-kindel-media-8486905-scaled.jpg?fit=1920%2C2560&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6u9Qa-4F1","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":25268,"url":"https:\/\/projectcalls.com\/dev\/almost-80-of-govt-contracts-awarded-to-small-medium-sized-businesses-nptab-ceo\/","url_meta":{"origin":17919,"position":0},"title":"Almost 80% of gov\u2019t contracts awarded to small, medium-sized businesses \u2013 NPTAB CEO","author":"Mayra Bonilla Lopez","date":"November 24, 2022","format":false,"excerpt":"Guyana As he appealed for small contractors countrywide to tap into the opportunities afforded to them under the laws of Guyana, National Procurement and Tender Administration Board (NPTAB) Chief Executive Officer Arvind Parag says that nearly 80% of government contracts to date have gone to small and medium-sized businesses. However,\u2026","rel":"","context":"In \"Contracts\"","block_context":{"text":"Contracts","link":"https:\/\/projectcalls.com\/dev\/tag\/contracts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Business-Office-Contract-Agreement-Deal-rawpixel-Pixabay.jpg?fit=1024%2C682&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10960,"url":"https:\/\/projectcalls.com\/dev\/procurement-bill-can-remove-veil\/","url_meta":{"origin":17919,"position":1},"title":"Procurement Bill Can \u2018Remove Veil\u2019","author":"Michele Marius","date":"October 31, 2019","format":false,"excerpt":"A top engineer yesterday hailed the draft Public Procurement Bill as a tool that can \u201cremove the veil\u201d and \u201copaque processes\u201d surrounding the award of multiple government contracts. Quentin Knowles, the Bahamas Society of Engineers (BSE) president, told Tribune Business that the long-awaited legislation that has been released for a\u2026","rel":"","context":"In &quot;News\/Developments&quot;","block_context":{"text":"News\/Developments","link":"https:\/\/projectcalls.com\/dev\/category\/newsdevelopments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2019\/10\/curtain-dark-fingers-Raphael-Brasileiro-Pexels.jpg?fit=1024%2C896&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2019\/10\/curtain-dark-fingers-Raphael-Brasileiro-Pexels.jpg?fit=1024%2C896&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2019\/10\/curtain-dark-fingers-Raphael-Brasileiro-Pexels.jpg?fit=1024%2C896&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2019\/10\/curtain-dark-fingers-Raphael-Brasileiro-Pexels.jpg?fit=1024%2C896&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":28057,"url":"https:\/\/projectcalls.com\/dev\/contractor-for-90m-prison-complex-named\/","url_meta":{"origin":17919,"position":2},"title":"Contractor for $90m prison complex named","author":"Mayra Bonilla Lopez","date":"May 25, 2023","format":false,"excerpt":"Bahamas NATIONAL Security Minister Wayne Munroe said the contractor for the new corrections and related facilities is Walker\u2019s Industries \u2013\u2013 though the bidding process for the project remains unclear. Mr Munroe recently revealed that construction plans for the Bahamas Department of Corrections have expanded, moving from just a $40m high-medium\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Buildings-construction-cranes-Juhasz-Imre-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Buildings-construction-cranes-Juhasz-Imre-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Buildings-construction-cranes-Juhasz-Imre-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Buildings-construction-cranes-Juhasz-Imre-Pexels.jpeg?fit=1024%2C768&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":24355,"url":"https:\/\/projectcalls.com\/dev\/nptab-hands-tied-over-kares-contract-source\/","url_meta":{"origin":17919,"position":3},"title":"NPTAB hands tied over Kares contract \u2013 source","author":"Mayra Bonilla Lopez","date":"September 29, 2022","format":false,"excerpt":"Guyana As questions continue to swirl in relation to the award of the $566.9 million contract to Kares Engineering Inc for the reconstruction of the North Ruimveldt Secondary School, a source at the national tender board told Stabroek News yesterday that despite Kares\u2019 disastrous work on the Kato Secondary School,\u2026","rel":"","context":"In &quot;Articles&quot;","block_context":{"text":"Articles","link":"https:\/\/projectcalls.com\/dev\/category\/articles\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/09\/pexels-rodolfo-quiro%CC%81s-2219024-1-scaled-e1664471029324.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/09\/pexels-rodolfo-quiro%CC%81s-2219024-1-scaled-e1664471029324.jpg?fit=1024%2C683&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/09\/pexels-rodolfo-quiro%CC%81s-2219024-1-scaled-e1664471029324.jpg?fit=1024%2C683&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2022\/09\/pexels-rodolfo-quiro%CC%81s-2219024-1-scaled-e1664471029324.jpg?fit=1024%2C683&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":11317,"url":"https:\/\/projectcalls.com\/dev\/high-court-rules-in-favour-of-govt-on-garbage-collection-contracts\/","url_meta":{"origin":17919,"position":4},"title":"High Court rules in favour of Gov&#8217;t on garbage collection contracts","author":"Michele Marius","date":"December 4, 2019","format":false,"excerpt":"In a landmark judgment delivered on Wednesday, the High Court has upheld the Government\u2019s policy that requires small and medium contractors to tender for garbage collection contracts, in keeping with the local government reform ideals. Justice Joan Charles dismissed the application for judicial review brought by four contractors against the\u2026","rel":"","context":"In &quot;News\/Developments&quot;","block_context":{"text":"News\/Developments","link":"https:\/\/projectcalls.com\/dev\/category\/newsdevelopments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/PSU-Law-Gavel-Penn-State-flickr-e1699564513757.jpg?fit=1025%2C802&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/PSU-Law-Gavel-Penn-State-flickr-e1699564513757.jpg?fit=1025%2C802&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/PSU-Law-Gavel-Penn-State-flickr-e1699564513757.jpg?fit=1025%2C802&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2017\/08\/PSU-Law-Gavel-Penn-State-flickr-e1699564513757.jpg?fit=1025%2C802&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":5619,"url":"https:\/\/projectcalls.com\/dev\/gibson-insists-water-contract-was-clean\/","url_meta":{"origin":17919,"position":5},"title":"Gibson Insists Water Contract Was Clean","author":"Michele Marius","date":"May 18, 2018","format":false,"excerpt":"Long Island\u2019s $5m water deal went to the only bidder that \u201csubstantially\u201d met the Water & Sewerage Corporation\u2019s terms, its chairman saying yesterday: \u201cI don\u2019t believe in hanky panky.\u201d Adrian Gibson told Tribune Business there were sound reasons why the two-phase infrastructure contract was awarded to BHM Company (Bahamas Hot\u2026","rel":"","context":"In &quot;News\/Developments&quot;","block_context":{"text":"News\/Developments","link":"https:\/\/projectcalls.com\/dev\/category\/newsdevelopments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Water-Splashes-and-Streams-Hilary-Halliwell-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Water-Splashes-and-Streams-Hilary-Halliwell-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Water-Splashes-and-Streams-Hilary-Halliwell-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/projectcalls.com\/dev\/wp-content\/uploads\/2018\/03\/Water-Splashes-and-Streams-Hilary-Halliwell-Pexels.jpeg?fit=1024%2C682&ssl=1&resize=700%2C400 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/17919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/users\/1091"}],"replies":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/comments?post=17919"}],"version-history":[{"count":2,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/17919\/revisions"}],"predecessor-version":[{"id":17922,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/posts\/17919\/revisions\/17922"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media\/17920"}],"wp:attachment":[{"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/media?parent=17919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/categories?post=17919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/projectcalls.com\/dev\/wp-json\/wp\/v2\/tags?post=17919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}