Audited Financial Statements

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Audited Financial Statements

Post by Lionheart on Wed Nov 18, 2015 7:34 pm

During Post-qualification, can the TWG question the authenticity of the Audited Financial Statements of the Bidder?

If the TWG finds that the Audited Financial Statement is wrong, can it fail the said bidder?


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Re: Audited Financial Statements

Post by ajac on Fri Nov 20, 2015 10:50 pm

Section 34.3. The post-qualification shall verify, validate, and ascertain all statements made and documents submitted by the bidder with the Lowest Calculated Bid/Highest Rated Bid, using non-discretionary criteria, as stated in the Bidding Documents. These criteria shall consider, but shall not be limited to, the following:
a) Legal Requirements. To verify, validate, and ascertain licenses, certificates, permits, and agreements submitted by the bidder, and the fact that it is not included in any “blacklist” as provided in Section 25.2 of this IRR. For this purpose, the GPPB shall maintain a consolidated file of all “blacklisted” suppliers, contractors, and consultants......

34.5. If, however, the BAC determines that the bidder with the Lowest Calculated Bid/Highest Rated Bid fails the criteria for post-qualification, it shall immediately notify the said bidder in writing of its post-disqualification and the grounds for it.

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