Validity of Credit Line Certificate

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Validity of Credit Line Certificate

Post by olrac_tm on Thu Nov 24, 2011 11:52 am

Good day! may i ask the people in the forum if how long will the validity of Credit Line Certificate be valid? is it the same with the bid validity of 120 CD which we require in our bidding? thanks
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Re: Validity of Credit Line Certificate

Post by joyie on Fri Nov 25, 2011 12:56 pm

olrac_tm wrote:Good day! may i ask the people in the forum if how long will the validity of Credit Line Certificate be valid? is it the same with the bid validity of 120 CD which we require in our bidding? thanks
YES, and you have to specify in your Bid Data Sheet (BDS) particularly in ITB Clause 18.2 the validity period of bid security to which should not exceed the bid validity of 120 CD as what stated in ITB 17.1 in the Phil. Bidding Docs (PBDs).
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Re: Validity of Credit Line Certificate

Post by engrjhez® on Fri Nov 25, 2011 3:04 pm

olrac_tm wrote:Good day! may i ask the people in the forum if how long will the validity of Credit Line Certificate be valid? is it the same with the bid validity of 120 CD which we require in our bidding? thanks

By its nature, I believe the Credit Line Certificate must be valid until the "intended completion date". The CLC is an alternative for NFCC, the intent of which is to ensure that the supplier/contractor can have enough financial capacity to execute the contract to completion. The Bid Security on the other hand, which has 120 cd at most validity, is required to ensure that bidders who submitted bid proposals are bound to accept the award if declared the winner -that is why Performance Security is replaces Bid Security during Contract Signing. Smile
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