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ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

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ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

Post by rbgamatan on Thu Sep 20, 2012 3:20 pm

1. Advance Payment for Mobilization
The Government, as it considers fair and reasonable, may allow advance payment to
the Consultant in the amount which shall not exceed fifteen percent (15%) of the
contract amount to cover the cost of mobilization, subject to the posting of an
irrevocable standby letter of credit issued by an entity acceptable to the agency and
of an amount equal to the advance payment.
The advance payment shall be repaid
by the Consultant by deducting from his progress payments such sum as agreed
upon during the contract negotiations until fully liquidated within the duration of the
contract.

irrevocable standby letter of credit lang po ba ang pwede na performance security sa consulting services?

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Re: ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

Post by elib on Thu Sep 20, 2012 3:58 pm

allengamatan,
from irr,
Advance Payment for Mobilization
The Government, as it considers fair and reasonable, may allow advance payment to the Consultant in the amount which shall not exceed fifteen percent (15%) of the contract amount to cover the cost of mobilization, subject to the posting of an irrevocable standby letter of credit issued by an entity acceptable to the agency and of an amount equal to the advance payment. The advance payment shall be repaid by the Consultant by deducting from his progress payments such sum as agreed upon during the contract negotiations until fully liquidated within the duration of the contract.
from PBS_CONS_4thed section 53.5.a....
The advance payment shall be due after the Consultant provides a bank guarantee in favor of the Procuring Entity issued by a bank acceptable to the Procuring Entity in accordance with the requirements provided in the SCC.

from the two excerpt, it could be either of the two.

1)standby letter of credit
or
2)bank guarantee

i am just not sure if they are the differenct, but quite sure they'll bring out the same purpose.....

performance security is differenct from advance payment bond....
cheers....
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Re: ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

Post by rbgamatan on Thu Sep 20, 2012 4:17 pm

elib, what do we need attache for us to pay advance payment 15%? cheers

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Re: ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

Post by rbgamatan on Thu Sep 20, 2012 4:26 pm

Nakita ko sa SCC na pwede pala "no advance payment is allowed."

(b) The advance payment shall be made only upon the submission to and acceptance by the Procuring Entity of an irrevocable standby letter of credit of equivalent value from a commercial bank, a bank guarantee or a surety bond callable upon demand, issued by a duly licensed surety or insurance company and confirmed by the Procuring Entity.

Ano po nga pala pinagkaiba ng performance security bond sa advance payment bond?

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Re: ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

Post by elib on Thu Sep 20, 2012 4:28 pm

allengamatan,

if you are the consultant, you need to provide first the advance payment bond from an acceptable agency in any of this form (bank guarantee or standby letter of credit or whatever is suggested in the scc) amounting 15% of the contract amount from which still subject for approval of the procuring entity. if it is deemed in compliance with the guidelines, they will give you the advance payment which is also equivalent to 15% of the contract....

hope this helps..

cheers...
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Re: ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

Post by rbgamatan on Thu Sep 20, 2012 4:41 pm

it helps a lot. cheers

Thank you Smile

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Re: ANNEX “F” CONTRACT IMPLEMENTATION GUIDELINES FOR THE PROCUREMENT OF CONSULTING SERVICES

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