Bid Security – Fixed Sum or Percentage of a Bid Price

I do agree with suthman's point of view. Bid security in fixed amount has numerous benefits. Just to mention a few: it makes life easier for PEs and bidders - no need for computation; it solves the problem of unscrupulous bidders who collude with financial institutions issuing bid security to fix price, does not tie substantial amount of money; rate of non-responsive bidders due submission of insufficient security is minimized etc

In my opinion from the bidders point of view and convenience, it is better that the bid securities are expressed as a fixed amount than a percentage of the bidder's bid price.