NFCC Standard Form?

View previous topic View next topic Go down

NFCC Standard Form?

Post by madingcena on Wed Feb 01, 2012 12:20 pm

Is there any standard form for NFCC? Pls. help...
avatar
madingcena
New Member
New Member

Female Number of posts : 19
Company/Agency : Municipality of Minglanilla
Occupation/Designation : Administrative Aide VI/BAC Sec.
Registration date : 2010-11-09

Back to top Go down

Re: NFCC Standard Form?

Post by Jovinal on Wed Feb 01, 2012 11:48 pm

This is the standard computation sec 23.5.2.6 IRR of RA No. 9184 If the prospective bidder submits a computation of its NFCC, the NFCC
must be at least equal to the ABC to be bid, calculated as follows:
NFCC = [(Current assets minus current liabilities) (K)] minus the value
of all outstanding or uncompleted portions of the projects under
ongoing contracts, including awarded contracts yet to be started
coinciding with the contract to be bid.
Where:
K = 10 for a contract duration of one year or less, 15 for a contract
duration of more than one year up to two years, and 20 for a contract
duration of more than two years.
If the prospective bidder submits a CLC, the CLC must be at least equal to
ten percent (10%) of the ABC to be bid. If the CLC is issued by a foreign
Universal or Commercial Bank, it shall be confirmed or authenticated by a
Universal or Commercial Bank. For biddings conducted by LGUs, the prospective bidder may also submit CLC from other banks certified by the
BSP as authorized to issue such financial instrument.(a)
avatar
Jovinal
Board Veteran
Board Veteran

Male Number of posts : 438
Company/Agency : LGU- Danao City
Occupation/Designation : City Accountant
Registration date : 2011-11-27

Back to top Go down

Re: NFCC Standard Form?

Post by RDV @ GP3i on Thu Feb 02, 2012 6:48 am

madingcena wrote:Is there any standard form for NFCC? Pls. help...

There is no standard form because what the bidder will have to submit is just a computation of its NFCC.
avatar
RDV @ GP3i
Grand Master
Grand Master

Male Number of posts : 1611
Company/Agency : DBM-Reg'l Office IV-B
Occupation/Designation : Regional Director/ Procurement Trainer
Registration date : 2008-09-04

http://gppphil.org/

Back to top Go down

Re: NFCC Standard Form?

Post by madingcena on Thu Feb 02, 2012 11:01 am

Thanks very much RDV @ GP3i
avatar
madingcena
New Member
New Member

Female Number of posts : 19
Company/Agency : Municipality of Minglanilla
Occupation/Designation : Administrative Aide VI/BAC Sec.
Registration date : 2010-11-09

Back to top Go down

Re: NFCC Standard Form?

Post by cdedicatoria on Wed Sep 19, 2012 2:04 pm

Jovinal wrote:
NFCC = [(Current assets minus current liabilities) (K)] ]

Sir Clarification lng po yung bang Current assets and Currently liabilities na figure dapat pa kukunin sa as audited financial statement from the previous year? or yung current standing ng company to date? Hindi po kasi clear sa IRR-A

Thank you po..

Financial Documents

j) The prospective bidder’s audited financial statements, stamped
“received” by the BIR or its duly accredited and authorized institutions,
for the immediately preceding calendar year, showing, among others,
the prospective bidder’s total and current assets and liabilities; and

k) The prospective bidder’s computation for its Net Financial Contracting
Capacity (NFCC) which shall be in accordance with Section 23.11 of this
IRR-A; or a commitment from a licensed bank to extend to it a credit
line if awarded the contract to be bid, or a cash deposit certificate, in an
amount not lower than that set by the procuring entity in the Bidding
Documents, which shall be at least equal to ten percent (10%) of the
approved budget for the contract to be bid.


cdedicatoria
New Member
New Member

Male Number of posts : 1
Company/Agency : 7Core Communications Inc.
Occupation/Designation : Managing Director
Registration date : 2012-09-18

Back to top Go down

Re: NFCC Standard Form?

Post by elib on Wed Sep 19, 2012 3:10 pm

cdedicatoria,

welcome to the forum,


the primary purpose of nfcc is to gauge the capbility of a propective bidder if he can perform the work at the time based on his current financial status.

from this, it is advantageous if all the necessary entries for nfcc computation is the latest.

cheers....
avatar
elib
Active Poster
Active Poster

Male Number of posts : 77
Company/Agency : Freelanz Company
Occupation/Designation : Freelanz Employee
Registration date : 2012-04-17

Back to top Go down

Re: NFCC Standard Form?

Post by orlan747 on Fri Jan 17, 2014 2:58 pm

elib wrote:cdedicatoria,

welcome to the forum,


the primary purpose of nfcc is to gauge the capbility of a propective bidder if he can perform the work at the time based on his current financial status.

from this, it is advantageous if all the necessary entries for nfcc computation is the latest.

cheers....


Hmmm, it may be advantageous or it may not be, the fact however is that you have to use the data from your AFS duly received by the BIR.
avatar
orlan747
Active Poster
Active Poster

Male Number of posts : 93
Company/Agency : Golden OCS Construction
Occupation/Designation : Manager
Registration date : 2009-04-01

Back to top Go down

Re: NFCC Standard Form?

Post by regina avelino on Mon Jan 20, 2014 10:38 am

definitely agree that in the computation of the NFCC, information should be taken from the audited financial statements of the lowest calculated bidder during post-qualification.

regina avelino
Board General
Board General

Female Number of posts : 663
Company/Agency : gocc ncr
Occupation/Designation : staff
Registration date : 2012-02-15

Back to top Go down

Re: NFCC Standard Form?

Post by gunther on Sun Jun 15, 2014 7:56 pm

Hi Admin,

May gusto lang po ako i-clarify regarding this topic.

1. Yung AFS ba na kailangan e yung prior year(example 2013)? Hindi ba pwedeng yung quarterly? Like ngayon end of June, mag file ng quarterly ITR with AFS for the quarter. Tinatanggap din ba ito ng agency for the computation of the NFCC?

2. If during the pre-bid nag submit na ako ng NFCC, and then na-award din sa akin yung project, do I still need to submit a credit line certificate? Isa kasi yun sa requirement na nakasulat sa notice of award, ("the required credit line").

Thanks in advance. More power.

gunther
New Member
New Member

Male Number of posts : 2
Company/Agency : BBDC
Occupation/Designation : A.M.O.
Registration date : 2014-06-15

Back to top Go down

Re: NFCC Standard Form?

Post by regina avelino on Tue Jun 17, 2014 10:33 am

Ganito po yun. According to BIR Revenue Regulation NO. 3-2005 dated feb. 16, 2005, section 3.2, submission of quarterly itr is acceptable only for new establishments which therefore have no annual itr yet shall submit the most recent quarterly income tax return.

if you have already submitted NFCC, the submission of credit line certificate is no longer required. during the old law, you need only to choose one, nfcc or the clc, however, with the new law particularly GPPB RESOLUTIONS NO. 20-2013 DATED JULY 30, 2013, CLC SHALL NO LONGER BE ACCEPTED AS AN ALTERNATIVE TO THE PROSPECTIVE BIDDER'S COMPUTATION OF NFCC.


regina avelino
Board General
Board General

Female Number of posts : 663
Company/Agency : gocc ncr
Occupation/Designation : staff
Registration date : 2012-02-15

Back to top Go down

Re: NFCC Standard Form?

Post by gunther on Tue Jun 17, 2014 1:51 pm

Thank you regina.
With regards to the quarterly ITR, I can still file it right? Because I have the option to file that in my EFPS. In case I file for the quarter ending this June, then I will have an ITR and AFS. Ang question ko is, tatanggapin ba ng agency yun like DepED, DPWH, etc.?

gunther
New Member
New Member

Male Number of posts : 2
Company/Agency : BBDC
Occupation/Designation : A.M.O.
Registration date : 2014-06-15

Back to top Go down

Re: NFCC Standard Form?

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum