Section 46, The Public Private Partnership Act, 2014

A bidder shall not forfeit any bid security that it may havebeen required to provide, other than in cases of- (a) withdrawal or modification of a proposal after a specified deadline; (b) failure to sign the PPP Agreement, if required by the contracting authority to do so, after the proposal has been accepted; or Two-stage bidding procedure. Bid securities. 36 37 (c) failure to provide the required security for the fulfilment of PPP Agreement after the proposal has been accepted or to comply with any other condition prior to signing PPP Agreement as specified in the request for