Notice of Award

 

July 25, 2012
 
VIVENCIO MASTILERO
General Manager
VENSON’S MARKETING
Jalandoni St., Iloilo City

 

Dear Sir:

 

We are happy to notify you that your Bid dated July 9, 2012 for execution of Supply and Delivery of Supplies for use of the Municipality, Miagao, Iloilo for the Contract Price of equivalent to Two Hundred Seventeen Thousand Six Hundred Fifty Pesos and Fifty Centavos (P 217,650.50) based on the abstract of bids as calculated is hereby accepted.

 You are hereby required to provide within ten (10) days the performance security in the form and the amount stipulated at Par. 39.2 of Section 39, RA 9184.

 

Form of Performance Security

Amount of Performance Security (Equal to Percentage of the Total Contract Price)

a) Cash, cashier’s/manager’s check, bank draft/guarantee confirmed by a Universal or Commercial Bank

 

 

Goods ad Consulting Services –

Five Percent (5%)

 

Infrastructure Projects –

Ten Percent (10%)

 

b) Irrevocable letter of credit issued by a Universal or Commercial Bank: Provided, however, that it shall be confirmed or authenticated by a Universal or Commercial Bank, if issued by a foreign bank.

c) Surety Bond callable upon demand issued by a surety or insurance company duly certified

 

Thirty Percent (30%)

 

Failure to provide the performance security shall constitute sufficient ground for cancellation of the award and forfeiture of the bid security.