Coal Can't Be Used As Bid Bond Asset: Fed. Circ.
In an opinion filed Wednesday, the U.S. Court of Appeals for the Federal Circuit upheld the U.S. Court of Federal Claims' ruling dismissing Tip Top's bid protest action, ruling that the pledged coal was a speculative asset and thus did not comply with the Federal Acquisition Regulation's requirements.
The court agreed with the FHWA's...
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