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liquidated damages

Post by lycous230 on Mon Jul 20, 2009 10:09 am

when do we start the number of days in delay of delivery of procured items for the purpose of computing liquidated damages? is it the DATE OF NOTICE TO PROCEED or THE DATE IN THE PURCHASE ORDER?
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Re: liquidated damages

Post by RDV @ GP3i on Mon Jul 20, 2009 11:36 am

lycous230 wrote:when do we start the number of days in delay of delivery of procured items for the purpose of computing liquidated damages? is it the DATE OF NOTICE TO PROCEED or THE DATE IN THE PURCHASE ORDER?

The Supplier/Service Provider is supposed to deliver the goods/render service within the period(s) of time specified in the contract.

If it is public bidding and you use the Philippine Bidding Documents, Sec. VI thereof contains the Schedule of Requirements in which the procuring entity will indicate the delivery schedule for the winning supplier. If the supplier fails to deliver the items within that period, delay starts the next day after the end of that period.

If it is not public bidding and you only issue a P.O., normally you will indicate in the P.O. when you need the items delivered (for example, "delivery in 15 days"). Again, delivery should be within the period or not later than the date of delivery indicated in your P.O. Delay in delivery will commence after the end of the period or after the date of indicated delivery.
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Re: liquidated damages

Post by engrjhez® on Mon Jul 20, 2009 12:30 pm

RDV wrote:
The Supplier/Service Provider is supposed to deliver the goods/render service within the period(s) of time specified in the contract.
x x x
Can you provide us a case when the NOTICE TO PROCEED (NTP) should govern over the contract? Or does NTP had nothing to do with the delivery (such as whether NTP is issued or not) and it's the Contract that prevails. Smile
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Re: liquidated damages

Post by RDV @ GP3i on Mon Jul 20, 2009 1:34 pm

engrjhez wrote:
RDV wrote:
The Supplier/Service Provider is supposed to deliver the goods/render service within the period(s) of time specified in the contract.
x x x
Can you provide us a case when the NOTICE TO PROCEED (NTP) should govern over the contract? Or does NTP had nothing to do with the delivery (such as whether NTP is issued or not) and it's the Contract that prevails. Smile

The NTP is the "go-ahead" signal for the supplier/contractor to start work under the terms of the Contract. It also provides therein when the contract will become effective. It means that even if you already have a valid and signed contract, it is not yet effective until receipt by the winning bidder/contractor of the NTP (unless an effectivity date has already been indicated by the procuring entity in the SCC). That is why, the clause in the GCC re NTP, has the following provision:

"42.2. The date of the Supplier’s receipt of the Notice to Proceed will be regarded as the effective date of the Contract, unless otherwise specified in the BDS."

The NTP Sample Form contains also the following paragraph:

"Upon receipt of this notice, you are responsible for performing the services under the terms and conditions of the Agreement and in accordance with the Delivery Schedule/Implementation Schedule."

The NTP, therefore, could not prevail over the contract, it only gives the signal by which the provisions of the Contract shall become effective. Besides, the NTP is only signed by one party (the procuring entity) while the Contract is signed by the contracting parties (procuring entity and supplier/contractor). So, the NTP cannot unilaterally prevail over the contract.
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Re: liquidated damages

Post by engrjhez® on Mon Jul 20, 2009 3:56 pm

RDV wrote:
x x x
The NTP, therefore, could not prevail over the contract, it only gives the signal by which the provisions of the Contract shall become effective. Besides, the NTP is only signed by one party (the procuring entity) while the Contract is signed by the contracting parties (procuring entity and supplier/contractor). So, the NTP cannot unilaterally prevail over the contract.

Thanks for that enlightenment.

May I share that I brought the question considering that our NTP is bilateral (contains the "acknowledgment of receipt" by the bidder). Since NTP is issued after contract signing, there may arise a problem when the delivery period is short enough that the delay in issuing NTP would question the compliance of bidder. And as a common understanding that the date of signing the contract, when duly notarized, is binding, legal, and by itself executory, the question whether the date of signing the contract or the date of NTP would be counted as "day 1" is confusing.

With the treatment of NTP as the actual validity of the contract it represents, I believe there would be no more question. Very Happy
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Re: liquidated damages

Post by RDV @ GP3i on Mon Jul 20, 2009 4:09 pm

engrjhez wrote:
RDV wrote:
x x x
The NTP, therefore, could not prevail over the contract, it only gives the signal by which the provisions of the Contract shall become effective. Besides, the NTP is only signed by one party (the procuring entity) while the Contract is signed by the contracting parties (procuring entity and supplier/contractor). So, the NTP cannot unilaterally prevail over the contract.

Thanks for that enlightenment.

May I share that I brought the question considering that our NTP is bilateral (contains the "acknowledgment of receipt" by the bidder). Since NTP is issued after contract signing, there may arise a problem when the delivery period is short enough that the delay in issuing NTP would question the compliance of bidder. And as a common understanding that the date of signing the contract, when duly notarized, is binding, legal, and by itself executory, the question whether the date of signing the contract or the date of NTP would be counted as "day 1" is confusing.

With the treatment of NTP as the actual validity of the contract it represents, I believe there would be no more question. Very Happy

It is correct that the NTP should have an "acknowledgement of receipt." If no date of effectivity of contract is indicated in the BDS, then the receipt by the winning bidder/contractor becomes the effective date of the contract.

The procuring entity should not delay the issuance of the NTP which would, consequently, delay contract implementation. (If delay in the issuance of NTP would happen, resulting in delayed delivery, since it is not the fault of the contractor, that should not be counted for purposes of computing the days of delay/liquidated damages.

As a matter of fact, the NTP should be issued NLT three (3) c.d from approval of contract . For infra costing less than P50M, the issuance of NTP should be NLT two (2) c.d. from approval of contract. If an effectivity date of contract is indicated in the NTP it should not be later than seven (7) c.d. from its issuance (Sec. 37.5, IRR-A). Otherwise, effectivity of contract is upon receipt or acknowledgement of receipt by the winning bidder/contractor.
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Re: liquidated damages

Post by jun b on Tue Oct 27, 2009 1:45 pm

sir rdv,

The old and new IRR have different formula for the computation of the liquidated damages. If a certain contract have been awarded based on the old IRR but LD have occured just after the effectivity of the new. What formula shall we used. Thanks

jun b
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Re: liquidated damages

Post by amang'65 on Tue Oct 27, 2009 9:30 pm

jun b wrote:sir rdv,

The old and new IRR have different formula for the computation of the liquidated damages. If a certain contract have been awarded based on the old IRR but LD have occured just after the effectivity of the new. What formula shall we used. Thanks

jun b


jun,

definitely make use of the new IRR, the old IRR has been superseded by the new one.
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Re: liquidated damages

Post by riddler on Wed Oct 28, 2009 9:09 am

jun b wrote:sir rdv,

The old and new IRR have different formula for the computation of the liquidated damages. If a certain contract have been awarded based on the old IRR but LD have occured just after the effectivity of the new. What formula shall we used. Thanks

jun b
amang wrote:
jun,

definitely make use of the new IRR, the old IRR has been superseded by the new one.

I think you should abide by your old contract regardless of the new IRR Jun, kasi naka stipulate na dun ang pag compute ng LD (under the old IRR). YOu cannot change horse in the middle of the race.
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Re: liquidated damages

Post by jun b on Wed Oct 28, 2009 5:07 pm

re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 9:52 am

jun b wrote:re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
Clause 9.1 of the SCC of the Contract under the old PBD and the old IRR for Infrastructure.
Liquidated damages is equivalent to an amount to be determined in accordance with the following formula until the work is completed and accepted or taken over by the PROCURING ENTITY:

TLD = VUUP x [ (1+ OCC)n - 1] x K
VUUP = TCP – VCUP
WHERE:
TLD = Total Liquidated Damages, In Pesos
VUUP = value of the uncompleted and unusable portions of the contract work, as of the expiry date of the contract, in pesos
TCP = Total Contract Price, In Pesos
VCUP = value of the completed and usable portion of the contract work, as of the expiry date of the contract, in pesos
OCC = prevailing opportunity cost of capital for government projects set by NEDA, which is currently pegged at 15%
n = total number of years that the contract work is delayed after the expiry date of the contract
K = adjustment factor to cover additional losses
= 1 + C + ( i x n)
WHERE:
C = cost of construction supervision as a percentage, not exceeding 10%, of construction cost
i = annual inflation rate as defined by NEDA

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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 10:07 am

jun b wrote:re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
9.1
Liquidated damages is equivalent to an amount to be determined in accordance with the following formula until the work is completed and accepted or taken over by the PROCURING ENTITY:

TLD = VUUP x [ (1+ OCC)n - 1] x K
VUUP = TCP – VCUP
WHERE:
TLD = Total Liquidated Damages, In Pesos
VUUP = value of the uncompleted and unusable portions of the contract work, as of the expiry date of the contract, in pesos
TCP = Total Contract Price, In Pesos
VCUP = value of the completed and usable portion of the contract work, as of the expiry date of the contract, in pesos
OCC = prevailing opportunity cost of capital for government projects set by NEDA, which is currently pegged at 15%
n = total number of years that the contract work is delayed after the expiry date of the contract
K = adjustment factor to cover additional losses
= 1 + C + ( i x n)
WHERE:
C = cost of construction supervision as a percentage, not exceeding 10%, of construction cost
i = annual inflation rate as defined by NEDA




The Head of the PROCURING ENTITY may also impose additional liquidated damages on the contractor provided such is prescribed in the Instructions to Bidders.
A project or a portion thereof may be deemed usable when it starts to provide the desired benefits as certified by the targeted end-users and the concerned PROCURING ENTITY.
To be entitled to such liquidated damages, the PROCURING ENTITY does not have to prove that it has incurred actual damages. Such amount shall be deducted from any money due or which may become due the contractor under the contract and/or collect such liquidated damages from the retention money or other securities posted by the contractor whichever is convenient to the PROCURING ENTITY.
In case that the delay in the completion of the work exceeds a time duration equivalent to ten percent (10%) of the specified contract time plus any time extension duly granted to the contractor, the procuring entity concerned may rescind the contract, forfeit the contractor’s performance security and takeover the prosecution of the project or award the same to a qualified contractor through negotiated contract.
In no case however, shall the total sum of liquidated damages exceed ten percent (10%) of the total contract price, in which event the contract shall automatically be taken over by the procuring entity concerned or award the same to a qualified contractor through negotiation and the erring contractor’s performance security shall be forfeited. The amount of the forfeited performance security shall be aside from the amount of the liquidated damages that the contractor shall pay the government under the provisions of this clause and impose other appropriate sanctions.

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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 10:14 am

jun b wrote:re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
Clause 9.1 of the Special Conditions of the Contract under the old PBD.
Liquidated damages is equivalent to an amount to be determined in accordance with the following formula until the work is completed and accepted or taken over by the PROCURING ENTITY:

TLD = VUUP x [ (1+ OCC)n - 1] x K
VUUP = TCP – VCUP
WHERE:
TLD = Total Liquidated Damages, In Pesos
VUUP = value of the uncompleted and unusable portions of the contract work, as of the expiry date of the contract, in pesos
TCP = Total Contract Price, In Pesos
VCUP = value of the completed and usable portion of the contract work, as of the expiry date of the contract, in pesos
OCC = prevailing opportunity cost of capital for government projects set by NEDA, which is currently pegged at 15%
n = total number of years that the contract work is delayed after the expiry date of the contract
K = adjustment factor to cover additional losses
= 1 + C + ( i x n)
WHERE:
C = cost of construction supervision as a percentage, not exceeding 10%, of construction cost
i = annual inflation rate as defined by NEDA

The Head of the PROCURING ENTITY may also impose additional liquidated damages on the contractor provided such is prescribed in the Instructions to Bidders.
A project or a portion thereof may be deemed usable when it starts to provide the desired benefits as certified by the targeted end-users and the concerned PROCURING ENTITY.
To be entitled to such liquidated damages, the PROCURING ENTITY does not have to prove that it has incurred actual damages. Such amount shall be deducted from any money due or which may become due the contractor under the contract and/or collect such liquidated damages from the retention money or other securities posted by the contractor whichever is convenient to the PROCURING ENTITY.
In case that the delay in the completion of the work exceeds a time duration equivalent to ten percent (10%) of the specified contract time plus any time extension duly granted to the contractor, the procuring entity concerned may rescind the contract, forfeit the contractor’s performance security and takeover the prosecution of the project or award the same to a qualified contractor through negotiated contract.
In no case however, shall the total sum of liquidated damages exceed ten percent (10%) of the total contract price, in which event the contract shall automatically be taken over by the procuring entity concerned or award the same to a qualified contractor through negotiation and the erring contractor’s performance security shall be forfeited. The amount of the forfeited performance security shall be aside from the amount of the liquidated damages that the contractor shall pay the government under the provisions of this clause and impose other appropriate sanctions.


Section 68. Liquidated Damages of the New rules for infra and goods

All contracts executed in accordance with the Act and this IRR shall contain a provision on
liquidated damages which shall be payable by the contractor in case of breach thereof. For
the procurement of goods, infrastructure projects and consulting services, the amount of the
liquidated damages shall be at least equal to one-tenth of one percent (0.1%) of the cost of
the unperformed portion for every day of delay. Once the cumulative amount of liquidated
damages reaches ten percent (10%) of the amount of the contract, the procuring entity
shall rescind the contract, without prejudice to other courses of action and remedies open to
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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 10:15 am

jun b wrote:re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
Clause 9.1 of the Special Conditions of the Contract under the old PBD.
Liquidated damages is equivalent to an amount to be determined in accordance with the following formula until the work is completed and accepted or taken over by the PROCURING ENTITY:

TLD = VUUP x [ (1+ OCC)n - 1] x K
VUUP = TCP – VCUP
WHERE:
TLD = Total Liquidated Damages, In Pesos
VUUP = value of the uncompleted and unusable portions of the contract work, as of the expiry date of the contract, in pesos
TCP = Total Contract Price, In Pesos
VCUP = value of the completed and usable portion of the contract work, as of the expiry date of the contract, in pesos
OCC = prevailing opportunity cost of capital for government projects set by NEDA, which is currently pegged at 15%
n = total number of years that the contract work is delayed after the expiry date of the contract
K = adjustment factor to cover additional losses
= 1 + C + ( i x n)
WHERE:
C = cost of construction supervision as a percentage, not exceeding 10%, of construction cost
i = annual inflation rate as defined by NEDA

The Head of the PROCURING ENTITY may also impose additional liquidated damages on the contractor provided such is prescribed in the Instructions to Bidders.
A project or a portion thereof may be deemed usable when it starts to provide the desired benefits as certified by the targeted end-users and the concerned PROCURING ENTITY.
To be entitled to such liquidated damages, the PROCURING ENTITY does not have to prove that it has incurred actual damages. Such amount shall be deducted from any money due or which may become due the contractor under the contract and/or collect such liquidated damages from the retention money or other securities posted by the contractor whichever is convenient to the PROCURING ENTITY.
In case that the delay in the completion of the work exceeds a time duration equivalent to ten percent (10%) of the specified contract time plus any time extension duly granted to the contractor, the procuring entity concerned may rescind the contract, forfeit the contractor’s performance security and takeover the prosecution of the project or award the same to a qualified contractor through negotiated contract.
In no case however, shall the total sum of liquidated damages exceed ten percent (10%) of the total contract price, in which event the contract shall automatically be taken over by the procuring entity concerned or award the same to a qualified contractor through negotiation and the erring contractor’s performance security shall be forfeited. The amount of the forfeited performance security shall be aside from the amount of the liquidated damages that the contractor shall pay the government under the provisions of this clause and impose other appropriate sanctions.


Section 68. Liquidated Damages of the New rules for infra and goods

All contracts executed in accordance with the Act and this IRR shall contain a provision on
liquidated damages which shall be payable by the contractor in case of breach thereof. For
the procurement of goods, infrastructure projects and consulting services, the amount of the
liquidated damages shall be at least equal to one-tenth of one percent (0.1%) of the cost of
the unperformed portion for every day of delay. Once the cumulative amount of liquidated
damages reaches ten percent (10%) of the amount of the contract, the procuring entity
shall rescind the contract, without prejudice to other courses of action and remedies open to it.
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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 10:15 am

jun b wrote:re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
Clause 9.1 of the Special Conditions of the Contract under the old PBD.
Liquidated damages is equivalent to an amount to be determined in accordance with the following formula until the work is completed and accepted or taken over by the PROCURING ENTITY:

TLD = VUUP x [ (1+ OCC)n - 1] x K
VUUP = TCP – VCUP
WHERE:
TLD = Total Liquidated Damages, In Pesos
VUUP = value of the uncompleted and unusable portions of the contract work, as of the expiry date of the contract, in pesos
TCP = Total Contract Price, In Pesos
VCUP = value of the completed and usable portion of the contract work, as of the expiry date of the contract, in pesos
OCC = prevailing opportunity cost of capital for government projects set by NEDA, which is currently pegged at 15%
n = total number of years that the contract work is delayed after the expiry date of the contract
K = adjustment factor to cover additional losses
= 1 + C + ( i x n)
WHERE:
C = cost of construction supervision as a percentage, not exceeding 10%, of construction cost
i = annual inflation rate as defined by NEDA

The Head of the PROCURING ENTITY may also impose additional liquidated damages on the contractor provided such is prescribed in the Instructions to Bidders.
A project or a portion thereof may be deemed usable when it starts to provide the desired benefits as certified by the targeted end-users and the concerned PROCURING ENTITY.
To be entitled to such liquidated damages, the PROCURING ENTITY does not have to prove that it has incurred actual damages. Such amount shall be deducted from any money due or which may become due the contractor under the contract and/or collect such liquidated damages from the retention money or other securities posted by the contractor whichever is convenient to the PROCURING ENTITY.
In case that the delay in the completion of the work exceeds a time duration equivalent to ten percent (10%) of the specified contract time plus any time extension duly granted to the contractor, the procuring entity concerned may rescind the contract, forfeit the contractor’s performance security and takeover the prosecution of the project or award the same to a qualified contractor through negotiated contract.
In no case however, shall the total sum of liquidated damages exceed ten percent (10%) of the total contract price, in which event the contract shall automatically be taken over by the procuring entity concerned or award the same to a qualified contractor through negotiation and the erring contractor’s performance security shall be forfeited. The amount of the forfeited performance security shall be aside from the amount of the liquidated damages that the contractor shall pay the government under the provisions of this clause and impose other appropriate sanctions.


Section 68. Liquidated Damages of the New rules for infra and goods

All contracts executed in accordance with the Act and this IRR shall contain a provision on
liquidated damages which shall be payable by the contractor in case of breach thereof. For
the procurement of goods, infrastructure projects and consulting services, the amount of the
liquidated damages shall be at least equal to one-tenth of one percent (0.1%) of the cost of
the unperformed portion for every day of delay. Once the cumulative amount of liquidated
damages reaches ten percent (10%) of the amount of the contract, the procuring entity
shall rescind the contract, without prejudice to other courses of action and remedies open to it.
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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 10:16 am

jun b wrote:re : computation of liquidated damages. You have different views sir amang and sir ruel. whats the exact formula, gentlemen. Thanks to both of you.
Clause 9.1 of the Special Conditions of the Contract under the old PBD. (This is for Infrastructure only.

Liquidated damages is equivalent to an amount to be determined in accordance with the following formula until the work is completed and accepted or taken over by the PROCURING ENTITY:

TLD = VUUP x [ (1+ OCC)n - 1] x K
VUUP = TCP – VCUP
WHERE:
TLD = Total Liquidated Damages, In Pesos
VUUP = value of the uncompleted and unusable portions of the contract work, as of the expiry date of the contract, in pesos
TCP = Total Contract Price, In Pesos
VCUP = value of the completed and usable portion of the contract work, as of the expiry date of the contract, in pesos
OCC = prevailing opportunity cost of capital for government projects set by NEDA, which is currently pegged at 15%
n = total number of years that the contract work is delayed after the expiry date of the contract
K = adjustment factor to cover additional losses
= 1 + C + ( i x n)
WHERE:
C = cost of construction supervision as a percentage, not exceeding 10%, of construction cost
i = annual inflation rate as defined by NEDA

The Head of the PROCURING ENTITY may also impose additional liquidated damages on the contractor provided such is prescribed in the Instructions to Bidders.
A project or a portion thereof may be deemed usable when it starts to provide the desired benefits as certified by the targeted end-users and the concerned PROCURING ENTITY.
To be entitled to such liquidated damages, the PROCURING ENTITY does not have to prove that it has incurred actual damages. Such amount shall be deducted from any money due or which may become due the contractor under the contract and/or collect such liquidated damages from the retention money or other securities posted by the contractor whichever is convenient to the PROCURING ENTITY.
In case that the delay in the completion of the work exceeds a time duration equivalent to ten percent (10%) of the specified contract time plus any time extension duly granted to the contractor, the procuring entity concerned may rescind the contract, forfeit the contractor’s performance security and takeover the prosecution of the project or award the same to a qualified contractor through negotiated contract.
In no case however, shall the total sum of liquidated damages exceed ten percent (10%) of the total contract price, in which event the contract shall automatically be taken over by the procuring entity concerned or award the same to a qualified contractor through negotiation and the erring contractor’s performance security shall be forfeited. The amount of the forfeited performance security shall be aside from the amount of the liquidated damages that the contractor shall pay the government under the provisions of this clause and impose other appropriate sanctions.


Section 68. Liquidated Damages of the New rules for infra and goods

All contracts executed in accordance with the Act and this IRR shall contain a provision on
liquidated damages which shall be payable by the contractor in case of breach thereof. For
the procurement of goods, infrastructure projects and consulting services, the amount of the
liquidated damages shall be at least equal to one-tenth of one percent (0.1%) of the cost of
the unperformed portion for every day of delay. Once the cumulative amount of liquidated
damages reaches ten percent (10%) of the amount of the contract, the procuring entity
shall rescind the contract, without prejudice to other courses of action and remedies open to it.

x x x x x

77.2. In cases where the advertisements or invitations for bids were issued before the
effectivity of this IRR, Procuring Entities may continue adopting the procurement
procedures, rules, and regulations provided in the IRR Part A or other applicable
laws, as the case may be.(a)]

Since the project is already overtaken by a new IRR, needless to say but to abide what is stipulated in our Old Contract
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Re: liquidated damages

Post by jun b on Thu Oct 29, 2009 10:40 am

What I mean is you have different views on what formula shall be used in our computation of the LD the old or the new. You said we could not change the horse in the middle of the race while sir amang said the new since the old has been superseded. Thanks again
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Re: liquidated damages

Post by amang'65 on Thu Oct 29, 2009 12:44 pm

jun b wrote:What I mean is you have different views on what formula shall be used in our computation of the LD the old or the new. You said we could not change the horse in the middle of the race while sir amang said the new since the old has been superseded. Thanks again


i am sorry jun i did not notice that the procedings you used was that of the old irr, because you said "a certain contract was awarded making use of the old irr.." ruel is right you have to stick to the old irr in computing your LD.
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Re: liquidated damages

Post by jun b on Thu Oct 29, 2009 1:44 pm

thanks sir amang for the clarification.
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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 2:03 pm

something is wrong with the "engine" today. my replies are posted repeatedly.. i thought the previous ones were not "gobbled up" by the engine.. i hope the "forum manager" can do something to erase the repititions... salamat.
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Re: liquidated damages

Post by jun b on Thu Oct 29, 2009 2:31 pm

by the way sir ruel what is now the annual inflation rate as defined by NEDA, for us to compute the LD based on the old IRR
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Re: liquidated damages

Post by riddler on Thu Oct 29, 2009 3:01 pm

jun b wrote:by the way sir ruel what is now the annual inflation rate as defined by NEDA, for us to compute the LD based on the old IRR

mwuaaah! that i do not know Question confused Question confused perhaps you can surf into the website of NEDA or DTI. Rolling Eyes Rolling Eyes
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Re: liquidated damages

Post by sunriser431 on Thu Oct 29, 2009 5:45 pm

For purpose of Discussion
Since the LD will definitely form part of the BAC Funds, can this be shared with the Inspection Committee Team? considering they are the ones computing, imposing this provision. bounce
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Re: liquidated damages

Post by RDV @ GP3i on Fri Oct 30, 2009 1:21 pm

sunriser431 wrote:For purpose of Discussion
Since the LD will definitely form part of the BAC Funds, can this be shared with the Inspection Committee Team? considering they are the ones computing, imposing this provision. bounce

Sunriser431:

Liquidated Damages collected or imposed by the procuring entity do not form part of "BAC Funds."

RDV
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