Advertisement

Sale by Public Tender: Successful bidder but failed payment within stipulated time. Can this be called unsuccessful tender?

219 Views  ⚫  Asked 1 Year Ago
asked on Mar 20, 2018 at 00:40
by  
edited on Mar 26, 2018 at 19:03
 
There was a public tender recently, and there was a successful bidder of the public tender, and he did not pay up the balance (90%) of the full payment of purchase price within the stipulated period, he only paid the 10% of the purchase price in early beginning. Therefore his deposit been forfeited.

Question is:

Can we call this is unsuccessful tender and put up for sales by public tender again?
0 had this question
Me Too
0 favorites
Favorite
[ share ]
2 Answers

answered on Mar 20, 2018 at 15:08
by  
can we call this is unsuccessful tender and put up for sales by public tender again?
Yes.

If this is a bank tender case, the bank will have to give the 10% payment
forfeited to the property owner.  Get from the bank the new statement of accounts to confirm.
0 found this helpful
Helpful

answered on Mar 22, 2018 at 05:39
by  
edited Mar 26, 2018 at 19:04
 
Yes, your answer is helpful. Thanks.
1 found this helpful
Helpful


You must log in to answer this question.

Not the answer you're looking for? Browse other questions by category or search to find answers.