When writing a regret letter for not bidding on a project, it's important to maintain clarity and politeness. Clearly state the reason for not bidding and express regret for any inconvenience caused. Maintain a professional tone throughout the letter and leave the door open for future collaboration.
Sample Letter for Regret for not Bidding
To,
The Manager,
__________(Name of the Company)
__________(Address)
Date: __/__/____(Date)
Subject: Regret for not bidding
Dear Sir/Madam,
This letter is in reference to the bid for ________ (project name).
In this regard, we regret to inform you that we are unable to bid for upcoming project _______ (project name) due to _________ (mention reason for not bidding). We hope that you will understand the situation and will continue to work with us in the future also.
We sincerely apologize for the inconvenience caused to you.
Regards,
____________ (Your name)
____________ (Designation)
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Sandeep Bhandari 
Kshitij Tarun