CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

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CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

Post by shark on Mon Apr 21, 2014 3:56 pm

Good Day!

Is it ok if we only allow cash or manager's/cashier/s check as the only form of bid security? If it is a violation, where can we possibly find it in the IRR?

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Re: CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

Post by regina avelino on Mon Apr 21, 2014 4:11 pm

Your agency cannot do this. The option to choose is with the bidder and not the procuring entity. Section 27.2

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Re: CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

Post by shark on Mon Apr 21, 2014 5:56 pm

thanks ma'am Regina.

i actually told the BAC before that it's the bidder's right to choose as to the form of security but our BAC chairman insisted that it is the option of the procuring entity as to what form of security will be accepted   Sad 

they were able to read SEction 27 and 39 but they seem to have a different interpretation.

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Re: CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

Post by ierivera on Mon Apr 28, 2014 12:56 pm

Refer to GPPB Resolution No. 25-2013, published in April 21, 2014.

The resolution amends the rules in Bid Security and Performance Security. The Procuring Entity shall indicate in the bidding documents the preferred/acceptable form.

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Re: CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

Post by regina avelino on Mon May 05, 2014 5:12 pm

hi shark, ierivera is correct. seems that i have not gone through the gppb website to look for updated and latest gppb resolution.

thanks sir ierivera.

latest resolutions are as follows: 25-2013, 22-2013, 21-2013, 20-2013, 11-2013

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Re: CASH OR MANAGER'S/CASHIER'S CHECK AS THE ONLY FORM OF BID SECURITY

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