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Bid Security

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Bid Security

Post by Abecedarian on Tue Jul 05, 2011 11:33 am

Two LCBs were disqualified one after the other for failure to submit the TCC. Can we forfeit their respective bid security? Anyone please....thanks
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Re: Bid Security

Post by Guest on Tue Jul 05, 2011 12:03 pm

Hi there...

Is that the tax clearance? I believe it is clear in Rule X Section 34.1 and 34.2 that failure to submit the enumerated requirements on time is a ground for forfeiture of bid security.

I hope this helps...

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Re: Bid Security

Post by Abecedarian on Tue Jul 05, 2011 3:29 pm

Thanks eagerlearner. How is it done?
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Re: Bid Security

Post by Guest on Tue Jul 05, 2011 5:27 pm

What was the format provided? surety? bank guarantee?

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Re: Bid Security

Post by ikuz23 on Tue Jul 05, 2011 5:32 pm

good day,
just inform the supplier's (into writing) that they are disqualified for an award due to the following grounds (eg. Failure to submit the following requirements on time which is 7 calendar days post qual period: Tax Clearance Cert.) also inform them that their bid security is forfeited for non submission of the said requirement.
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Re: Bid Security

Post by Abecedarian on Wed Jul 06, 2011 5:02 pm

Surety, thanks again eagerleaner.
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Re: Bid Security

Post by engrjhez® on Thu Jul 07, 2011 9:21 am

ikuz23 wrote:good day,
just inform the supplier's (into writing) that they are disqualified for an award due to the following grounds (eg. Failure to submit the following requirements on time which is 7 calendar days post qual period: Tax Clearance Cert.) also inform them that their bid security is forfeited for non submission of the said requirement.

Please be reminded that submission of postqual documents should be done within 3 c.d. (not 7). Smile
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Re: Bid Security

Post by ikuz23 on Fri Jul 08, 2011 11:35 am

noted engrjhez. tnx
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Re: Bid Security

Post by fe a. araya on Fri Jul 08, 2011 3:59 pm

Right, jhez. The seven (7) c.d in the old IRR or IRR-A was amended with 3 cd in the Revised IRR
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Re: Bid Security

Post by Abecedarian on Thu Jul 14, 2011 4:23 pm

Good afternoon, who will forfeit the bid security, the BAC or the HOPE? Anyone please...
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Re: Bid Security

Post by sunriser431 on Thu Jul 14, 2011 8:08 pm

Abecedarian wrote:Good afternoon, who will forfeit the bid security, the BAC or the HOPE? Anyone please...
Excerpts from Section 69 of the Revised IRR for your guidance.
69.1 xxxx
69.2. In addition to the penalty of suspension, the bid security or the performance security posted by the concerned bidder or prospective bidder shall also be forfeited.
69.3. The Head of the Procuring Entity may delegate to the BAC the authority to impose the aforementioned administrative penalties.
. bounce
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Re: Bid Security

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