ANSWER:
No, a bond may not be used as a bid security. The procurement documentation carefully avoids the term "bond" and is quite specific on the acceptable form of the bid security. According to para 2.17 of the Guidelines, the bid security must be in the form of a certified check, a letter of credit or a bank guarantee from a reputable bank. No other form of security is allowed, nor is issuance of the security from an institution other than a reputable bank allowed (such as an insurance company, bonding company, etc.). Please note that the bid security should not be confused with the performance security.
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