net financial contracting capacity

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net financial contracting capacity

Post by misty on Thu Jun 25, 2009 10:40 am

question po ulit. the audited financial statements have comparative figures, 2007 and 2008, can the bidder use the figures for 2007 in the computation of the nfcc because it has greater liquidity result that that of the 2008 figures?

thank you.
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Re: net financial contracting capacity

Post by RDV @ GP3i on Thu Jun 25, 2009 12:03 pm

misty wrote:question po ulit. the audited financial statements have comparative figures, 2007 and 2008, can the bidder use the figures for 2007 in the computation of the nfcc because it has greater liquidity result that that of the 2008 figures?

thank you.

The computation of the NFCC should be based on the latest financial statement as you are interested in knowing the current liquidity of the bidder to finance the project that you are procuring.

That is also the reason why, in the formula for the computation of the NFCC, the value of all ongoing contracts and even contracts awarded but not yet started has to be deducted after getting the net result of the current assets less current liabilities multiplied by the value applicable.
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Re: net financial contracting capacity

Post by youngkring on Thu Sep 02, 2010 5:11 pm

..may i ask po...why can't we use a Rural Bank credit line certificate for the bidding? they require commercial bank/universal bank only...
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Re: net financial contracting capacity

Post by engrjhez® on Thu Sep 02, 2010 5:24 pm

youngkring wrote:..may i ask po...why can't we use a Rural Bank credit line certificate for the bidding? they require commercial bank/universal bank only...

Welcome youngkring,

The Procuring Entity required such because of the provision of Sec.23.1.a.vi, to wit:

x x x
vi) The prospective bidder’s computation for its Net Financial Contracting
Capacity (NFCC) or a commitment from a Universal or Commercial Bank
to extend a credit line in favor of the prospective bidder if awarded the
contract to be bid
(CLC).
x x x

Smile
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Re: net financial contracting capacity

Post by misty on Thu May 26, 2011 11:03 am

gud am. may i know if it is possible to disqualify a bidder who incurred a net loss in the previous year? the computation of nfcc is more than what is required. thank you.
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Re: net financial contracting capacity

Post by cres on Thu May 26, 2011 1:27 pm

is it necessary that Net Financial Contracting capacity (NFCC) document must be notarized during bid submission?

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Re: net financial contracting capacity

Post by engrjhez® on Thu May 26, 2011 2:50 pm

cres wrote:is it necessary that Net Financial Contracting capacity (NFCC) document must be notarized during bid submission?

Nope. It is already covered by the Omnibus Sworn Statement. Smile
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Re: net financial contracting capacity

Post by cres on Thu May 26, 2011 6:32 pm

Other Procuring Entity thru its Bids and awards Committee required that Net Financial Contracting Capacity (NFCC) must have an attachment of Credit Line Certificate., is it the proper way?

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Re: net financial contracting capacity

Post by engrjhez® on Thu May 26, 2011 10:18 pm

cres wrote:Other Procuring Entity thru its Bids and awards Committee required that Net Financial Contracting Capacity (NFCC) must have an attachment of Credit Line Certificate., is it the proper way?

Excerpts from the IRR (Sec.23.1.a.vii):
The prospective bidder’s computation for its Net Financial Contracting
Capacity (NFCC) or a commitment from a Universal or Commercial Bank
to extend a credit line in favor of the prospective bidder if awarded the
contract to be bid (CLC).
...which is self-explanatory. Smile

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