Section 51, The Public Procurement Act, 2016

(1) The bidding documents may require every bidder tosubmit a bid security, which shall be on such terms and conditions as the Authority may by statutory instrument prescribe. (2) Forfeiture of a bid security may be imposed only in the event of– 48 49 Submission of bids. Bid security. (a) a modification or withdrawal of a bid after the deadline for submission of bids and during its period of validity; (b) refusal by a bidder to accept a correction of an arithmetical error appearing on the face of the bid; (c) failure by the successful bidder to sign a contract in accordance with the terms set forth in the bidding documents; or (d) failure by the successful bidder to provide a security for the performance of the contract if required to do so by the bidding documents.