Incorrect NFCC formula submitted

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Incorrect NFCC formula submitted

Post by JFC2015 on Mon Jun 29, 2015 6:28 pm

Hi Guys,

The required computation under the law is
[b]NFCC = [(Current assets minus current liabilities) (K)] minus the value
of all outstanding or uncompleted portions of the projects under
ongoing contracts, including awarded contracts yet to be started
coinciding with the contract to be bid.
Where:
K = 10 for a contract duration of one year or less, 15 for a contract
duration of more than one year up to two years, and 20 for a contract
duration of more than two years.

QUESTION: What if the computation submitted instead was [(Current assets minus current liabilities) minus the value
of all outstanding or uncompleted portions of the projects under
ongoing contracts, including awarded contracts yet to be started
coinciding with the contract to be bid (K)] All figures submitted were correctly based on the AFS and the NFCC in either instance would still be greater than the ABC. Should the bidder be disqualified? If not, is there any specific rule or jurisprudence that can be cited to help defend the non-disqualification. Thanks!

JFC2015
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Registration date : 2015-06-29

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