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INCONSISTENCY OF THE AMOUNT STATED ON THE BID SECURITY

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INCONSISTENCY OF THE AMOUNT STATED ON THE BID SECURITY

Post by jene on Wed Feb 29, 2012 12:26 pm

Can we ask for a failure of bid if the bid security in the Invitation to bid that was given to us bidders was inconsistent. (the amount in words is correct but the figures were incorrect. for example: "One thousand two hundred pesos (1,300.00).

I really need help..I want to find ways so I can ask the BAC to declare a failure of bidding because of the inconsistency of the ITB. but in BDS the words and figures are correct but what we have submitted to the bank was the ITB.
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Re: INCONSISTENCY OF THE AMOUNT STATED ON THE BID SECURITY

Post by RDV @ GP3i on Wed Feb 29, 2012 3:27 pm

jene wrote:Can we ask for a failure of bid if the bid security in the Invitation to bid that was given to us bidders was inconsistent. (the amount in words is correct but the figures were incorrect. for example: "One thousand two hundred pesos (1,300.00).

I really need help..I want to find ways so I can ask the BAC to declare a failure of bidding because of the inconsistency of the ITB. but in BDS the words and figures are correct but what we have submitted to the bank was the ITB.

I don't think you have basis in asking for failure of bidding for reason that there is an error in the amount of bid security as reflected in the bidding documents, or inconsistencies in the amounts.

You mentioned that the amount in words: "0ne thousand two hundred pesos", is correct. The amount in figure is incorrectly reflected as: PhP 1,300.00.

If you follow the amount in words, and that is the amount of your bid security for the bid security form you have submitted, then you should not be disqualified. If your bid security is in the amount of P1,300.00 then the bidder should not be disqualified because his bid security amount is higher than and not less than the minimum amount of bid security.


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Re: INCONSISTENCY OF THE AMOUNT STATED ON THE BID SECURITY

Post by jene on Wed Feb 29, 2012 3:52 pm

thanks RDV for the quick response, sorry my example should be " One thousand three hundred pesos (1,200.00) written in the ITB. we followed the figures which is wrong because it stated there that bid security should be 2% of the ABC.

Can we do something for us not to be disqualified on the bid?
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Re: INCONSISTENCY OF THE AMOUNT STATED ON THE BID SECURITY

Post by RDV @ GP3i on Wed Feb 29, 2012 6:02 pm

jene wrote:thanks RDV for the quick response, sorry my example should be " One thousand three hundred pesos (1,200.00) written in the ITB. we followed the figures which is wrong because it stated there that bid security should be 2% of the ABC.

Can we do something for us not to be disqualified on the bid?

Do I get it right that the equivalent of 2% of the ABC is P1,200.00 and not P1,300 which is the amount indicated in words? That is also the amount of your bid security you submitted but you were disqualified in the process.

Of course, you can file a request for reconsideration if the period has not yet prescribe. Of course, your basis is that your bid security is not less than 2% of the ABC. If they reason that their requirement is actually P1,300 and it is still not less than 2% of the ABC, you need to cite Sec. 27.2 of the IRR.

Sec. 27.2 of the IRR partly provides that "The bid security shall be in an amount equal to a percentage of the ABC..."

Very clearly, the required bid security should be equal to the required percentage of the ABC, no more, no less. If the exact amount of bid security is only P1,200, then the BAC is wrong to disqualify you for their mistake.
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