A bid protest challenges a procurement decision. It can be filed with the agency, the Government Accountability Office or the Court of Federal Claims.
Grounds
Evaluation inconsistent with the solicitation, unequal treatment, unreasonable technical or price evaluation, organizational conflicts.
Timing
Strict. Generally within ten days of knowing the basis, or within five days of a required debriefing to get an automatic stay.
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Considerations
Cost, relationship with the agency, likelihood of success. Many protests are resolved by corrective action.
Always request a debriefing first. It is often more valuable than a protest.