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New Companies
by alpha1 on Mon Aug 13, 2012 9:50 am
Hello to everyone!
Just a simple question for clarification. Are newly established companies (less than 1-year) may have the tendency to be barred from joining public bidding even if they have undertaken similar private contracts?
Just a simple question for clarification. Are newly established companies (less than 1-year) may have the tendency to be barred from joining public bidding even if they have undertaken similar private contracts?
alpha1- Active Poster
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Re: New Companies
by RDV @ GP3i on Mon Aug 13, 2012 11:28 am
alpha1 wrote:Hello to everyone!
Just a simple question for clarification. Are newly established companies (less than 1-year) may have the tendency to be barred from joining public bidding even if they have undertaken similar private contracts?
In terms of experience, if they have completed at least one (1) similar contract with the value (adjusted to current prices) equivalent to at least 50% of the ABC, it could be qualified.
The completed contract does not necessarily have to be government contracts, it could be private contracts, so long as they are similar to the contract to be bidded out.
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Re: New Companies
by engrjhez® on Mon Aug 13, 2012 11:34 am
alpha1 wrote:Hello to everyone!
Just a simple question for clarification. Are newly established companies (less than 1-year) may have the tendency to be barred from joining public bidding even if they have undertaken similar private contracts?
No. They cannot be barred from joining, but they have to exhibit proof that they are both eligible and qualified.
However, because their business is less than 1 year, they may have difficulty in complying with "Audited Financial Statement" which is an eligibility requirement. They may also have some issues in securing Tax Clearance and Income Tax returns later in the post qual. If they can submit, then they may be considered for subsequent post qual if they are the LCB. Should they pass, they may be awarded.
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Re: New Companies
by alpha1 on Mon Aug 13, 2012 12:42 pm
That is also the question a certain bidder is asking, how can they comply with the submission of the financial statement because they are a new company. They have already similar contracts for a particular project to be bid, however their dilemma is their compliance with the FS requirement. Is their any chance that the FS requirement during the Bid Opening maybe waived for newly established company?
alpha1- Active Poster
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Re: New Companies
by engrjhez® on Mon Aug 13, 2012 12:49 pm
alpha1 wrote:That is also the question a certain bidder is asking, how can they comply with the submission of the financial statement because they are a new company. They have already similar contracts for a particular project to be bid, however their dilemma is their compliance with the FS requirement. Is their any chance that the FS requirement during the Bid Opening maybe waived for newly established company?
No. AFS is one of the indispensable requisite of eligibility. Without it, the bidder shall be declared ineligible.
engrjhez®- Grand Master
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