bid documents for the procurement of rice mill parts and ...

cooperative or partnership that shall contain in addition to the
contents thereof of the following: “Any statements, utterances,
declaration, opinions and observations expressed during the prebidding
and bidding proper by the authorized representative, in
case of corporation and partnership, shall be binding upon the said
company or principal”.
1.5. It complies with the disclosure provision under Section 47 of the
Act in relation to other provisions of RA 3019;
1.6. It complies with the responsibilities of a prospective or eligible
bidder provided in the PBDs; and
1.7. It complies with the existing labor laws and standards, in the case of
procurement of services.
V. BID SECURITY
The Bid Security shall be in the amount equal to a percentage of the ABC in
accordance with the following schedule:
FORM OF BID SECURITY
AMOUT OF BID SECURITY
(Equal to Percentage of the ABC)
a. Cash, cashier’s/manager’s check issued by a Universal or
Commercial Bank
b. Bank draft/guarantee or Irrevocable Letter of Credit issued
by a Universal or Commercial Bank; Provided, however,
Two Percent (2%)
that it shall be confirmed or authenticated by a Universal or
Commercial Bank, if issued by a Foreign Bank.
c. Surety Bond callable upon demand issued by a surety or
insurance company duly certified by the Insurance
Commission as authorized to issue such security Five Percent (5%)
d. Any combination of the foregoing Proportionate to share of form with
respect to total amount of security.
e. In lieu of a bid security, the bidder may submit a Bid
Securing Declaration that is an undertaking which states
that the bidder shall enter into a contract with the procuring
entity and furnish the required performance security within
ten (10) calendar days, and committing to pay the
corresponding fine and be suspended for a period of time
from being qualified to participate in any government
procurement activity in the event it violates any of the
conditions stated therein as required by the GPPB.
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