NATIONAL FOOD AUTHORITY CARAGA REGION Butuan ... - NFA

27. Release of performance bond shall be made only after the issuance of the provincial committee of acertification that the winning bidder has fully paid and withdrawn the awarded stocks.28. That inasmuch as the weight of the stocks subjected to bidding are merely based on estimates which are thebases of the payment prior to the issuance of the “Authority to Issue” there are instances, as a matter ofexception and during the last issuance of awarded stocks prior to the exhaustion of total stocks for sale, thatthe estimated weight exceeds that which had been actually paid by the awardee in which case, the awardeeshall be under obligation to make additional payments corresponding to the excess and to withdraw the samewithin the original period.Likewise, if stocks for sale are already exhausted and the actual volume withdrawn/issued to the buyer is lessthan what the buyer has paid for, the NFA shall reimburse the balance following the NFA reimbursementvoucher system.29. Stock IssuancesAwarded stocks shall be withdrawn in the designated warehouse(s) number as indicated in the Authority toIssue and are non-transferrable to other warehouses.All stocks issuances of awarded stocks shall be ex-warehouse. NFA shall shoulder the handling expense in thein-warehouse movements of the awarded stocks from the pile to scale to buyer’s truck. The hauling of thestocks from the issuing NFA warehouse shall be borne by the buyer.THE NFA RESERVES THE RIGHT TO REJECT ANY OR ALL OFFERS, TO WAIVE ANY FORMALITIES OR DEFECTS FOUNDTHEREIN AND ACCEPT ONLY SUCH OFFERS WHICH ARE MOST REASONABLE AND ADVANTAGEOUS TO THE NFAWITHOUT THEREOF INCURRING ANY LIABILITY TO THE AFFECTED OFFERORS.(SGD) CAMILO D. MAGTRAYOAssistant Regional DirectorChairperson – NFA Caraga BAC---------------------------------------------------------------------------------------------------------------------------------------RECOMMENDING APPROVAL:APPROVED:------------------------------------------------------------------------------------------------------------------------------RECAMILO D. MAGTRAYOJAVIERPage 6 of 6