How to write a statement of the situation and a written letter of not participating in the bidding

How to write the information of not participating in bidding as follows:

"To: XXX tendering agency (or owner) Our company will not participate in the bidding of this project due to XXXXX." No detailed explanation is needed, because the bidder has the right to decide whether to participate in the bidding before the bidding deadline. If you quit after the bid opening, your deposit will be deducted for whatever reason, so generally don't quit, otherwise you won't win the bid.

Bidding is a technical term of bidding, which refers to the behavior of bidders to submit bidding documents to the tenderer within the specified time limit at the invitation of the tenderer in accordance with the conditions stipulated in the tender announcement or invitation letter. In most countries, government agencies and public utilities purchase equipment, materials and daily necessities through bidding. Bidding is also often used when exploring resources, developing mineral deposits or inviting investment in construction projects.

The basic method of bidding: the bidder first obtains the bidding documents, and after careful analysis and research (on-the-spot investigation), prepares the tender. In essence, the tender is a valid quotation or preliminary preparation before the specified bid opening date, and its content must be very clear. All the important contents that should be included in the contract signed with the tenderer after winning the bid shall not be withdrawn, the bid quotation changed or the bid contents substantially modified within the validity period. In order to prevent bidders from withdrawing their bids or refusing to sign contracts after winning the bid, tenderers usually require bidders to provide a certain percentage or amount of bid bond. After the tenderer determines the winning bidder, the deposit paid by the unsuccessful bidder will be refunded.

People's Republic of China (PRC) Bidding Law Article 28 A bidder shall deliver the bidding documents to the bidding place before the deadline for submitting the bidding documents. After receiving the tender documents, the tenderee shall sign and keep them, and shall not open them. If there are less than three bidders, the tenderer shall re-invite tenders in accordance with this Law.

Tender documents delivered after the deadline for submission of tender documents required by the tender documents shall be rejected by the tenderer.