NATIONAL FOOD AUTHORITY CARAGA REGION Butuan ... - NFA

The bid price offer must be on a per kilogram basis and up to two (2) decimal places only.12. Price offers below the Indicative Price of P25.00 per kilogram but not lower than 10% from the indicative priceshall be recommended for award to the NFA Administrator.Bidder’s bond of all buyers whose offers are recommended for award shall be retained by NFA and any actionon the Bond shall be made upon approval or disapproval of the recommendation to award.13. The buyers shall submit the offer personally or through the authorized representative using the appropriate BidForms provided by NFA and placed inside a sealed envelope marked as follows:Name of OfferorREGIONAL SMDP COMMITTEENFA Caraga, Butuan CityDo not open before _______, 2011Buyers shall submit together with the sealed bid offer a Bid Bond equivalent to TEN PERCENT (10%) of the totalamount of bid/offer in the form of CASH, CASHIER’S OR MANAGER’S CHECK issued by a reputable commercialbank payable to the NFA. Otherwise, the offer shall be automatically rejected.The CASHIER’s/MANAGER’s CHECK must be accompanied by an Application to Purchase CASHIER’s/MANAGER’sCHECK duly signed and approved by the bank manager and official receipt or machine validation of payment.Further, CASHIER’s/MANAGER’s CHECK shall be subject for the confirmation by the issuing bank before an NFAOfficial Receipt is issued to the bidder.The application to purchase CASHIER’s/MANAGER’s CHECK must be secured by the bidder and withdrawn fromthe account of the bidder in the issuing bank, otherwise the bid bond shall be rejected and the bidderdisqualified.The application to purchase CASHIER’s/MANAGER’s CHECK shall also be submitted to the SMDP Secretariat.14. No Manager’s/Cashier’s check secured by and withdrawn from the account of any other person or personssubmitted as bid bond by the bidder shall be accepted during the opening of the bids.15. Forfeiture of the bid bond shall include among others – the withdrawal of bid after it has been submitted,opened by the committee and recommended for award, refusal to accept award, refusal to accept correctionof mathematical error on bid price, refusal to post the performance bond or the refusal to allow the conversionof the bid bond into a performance bond after award is made to the bidder, etc.16. The sealed offers shall be publicly opened in the place and time aforementioned in the presence of all offerorswho desire to be present.17. No bid Bond shall be returned upon the opening of offers before issuance of Notice of Award except to thosewhose offers were not recommended by the Committee for award.18. The Committee may conduct the auction and recommend award even if there is only one buyer, provided,however, that the offered price is within the acceptable price for award.19. All Bid Bonds of offerors whose offers were recommended for award by the Committee shall be converted toPerformance Bond upon approval of the recommendation and the issuance of award to the offerors.Page 4 of 6