Step 6
Payment of Bid Bond
- Application stage: Postulación CINA
The Bid Bond is an initial payment that guarantees the producer’s commitment to the execution of the project and their obligations.
It corresponds to 2.2% of the budget subject to CINA, with a cap of COP 140.072.400 It functions as an advance payment to the system and is deducted from the value of the producer’s contribution if their project is accredited.
Enter the estimated values of your budget in Colombia and view the results:
*If the calculation of the Bid Bond exceeds COP 140.072.400 the amount to be paid is equivalent to this cap.
Frequently asked questions
What happens if the calculation of 2.2% of the Bid Bond exceeds the limit of COP 140.072.400?
In that case, the producer only has to pay the maximum amount of COP140.072.400
What happens if the project is NOT approved?
90% of the amount paid is refunded, unless there is false information in any document.
Can the producer withdraw the project application?
Yes, but only 90% of the payment for the Bid Bond will be refunded, unless the withdrawal occurs after the project has been approved.
What happens if the project IS approved?
The amount paid is credited to the CINA system as an advance on the producer’s mandatory contribution to the CINA system.