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B-192893 1 (1978-12-27)

handle is hein.gao/gaobadgtt0001 and id is 1 raw text is: 01.1,ER THE COMPTROLLER GENERAL DECISION OF THE UNITED STATES WASHINGTON, D.C. 20548 FILE: B-192893 DATE: December 27, 1978 MATTER OF: Chemical Technology, Inc. DIGEST: 1. Protester's bid is properly rejected as nonrespon- sive where Irrevocable Letter of Credit submitted to comply with IFB's bid guarantee requirement is defective because letter was issued by protester rather than other independent credit source. 2. Bidder acting as personal surety when required to provide bid guarantee has not met requirement. Bonding company's post bid opening offer to stand behind bidder's personal quarantee is not for con- sideration, and public interest in strict main- tenance of competitive bidding process outweighs any monetary savings Government might realize by waiving deficiencies in protester's bid guarantee. 3. Failure to inspect contract site prior to opening which IFB puts in nonmandatory terms does not render bid nonresponsive. 4. Low responsive bidder may voluntarily decrease bid price after bid opening. 5. Contracting officer determination of price reason- ableness was not abuse of discretion where low, responsive bidder's price was considered fair and reasonable even prior to voluntary price reduction.