Under what circumstances will the bid deposit be confiscated?
The bid deposit will be confiscated in the event of withdrawal of the bid, refusal to sign the contract after winning the bid, refusal to pay the performance bond, bid-rigging, and fraudulent activities. According to the Bidding and Tendering Law, the bid-winning party may not be refunded if they refuse to sign the contract, and the amount involved shall not exceed the statutory upper limit.
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