Government contracts can be a great way for businesses to make money. Unlike individuals hiring your company, the government will not fail to follow through on payment. One successful contract can also potentially open the door to a continued stream of government revenue.
To secure a government contract, you first have to bid on it. Your company may have invested substantially in the creation of a competitive bid, only to lose out to another business. Maybe you believe they have some backdoor connection that helped them get the contract, or perhaps you simply think there was a mistake. You may also feel like the bidding terms were unfair or even illegal.
You may want to initiate a bid protest in that situation.
What could a bid protest do?
If you follow the right procedure for a bid protest, you can initiate a review of the recent bid process and the decision reached or of the criteria in place for the bidding process. Occasionally, a bid protest might result in the agency awarding the contract to a different party than the one that they initially selected.
Especially in scenarios where you believe that one person’s connections or some kind of misconduct may have influenced the decision, a bid protest could help you compete on a more level playing field. Given how much money your company likely invested in a bid on a government project, following through when you suspect misconduct may make sense.
Understanding the rules that regulate government contracts can help your company be more competitive when bidding for them.