MINUTES OF THE BIDDING

 

  1. Business Matters:

The Bidding for the Supply and Delivery of Various Construction Materials and Supplies for the Construction of Covered Court, Brgy. Ubos Ilaya, Miagao, Iloilo was called to order at 2:24 p.m. of July 25, 2011 at the Conference Room of the Municipal Building and was presided by the BAC Chairman T. Arlene N. Nufuar. The roll was called and declared a quorum.

 

    1. Representative of Topmost Development and Marketing Corporation dropped her bid at 1:50 p.m. while representative of Iloilo City Hardware Inc. dropped her bid at 1:55 p.m.

 

  1. Eligibility Check:
    1. Iloilo City Hardware Inc. and Topmost Development and Marketing Corporation are eligible bidders of the Municipality.

Opening and Examination of Bids and Determination of Responsiveness

Reading of Bids and the Approved Budget for the Contract (ABC)

 

A. Required Bid Security

 

Form of Bid Security

Amount of Bid Security

(Equal to Percentage of the ABC)

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

 

 

two percent (2%)

 

P 7,173.70

  1. 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.
  1. Surety Bond callable upon demand issued by a surety or insurance company duly certified by the Insurance Commission as authorized to issue such security.

 

 

five percent (5%)

 

P 17,934.25

  1. Any combination of the foregoing.

 

Proportionate to share of form with respect to total amount of security.

 

 

 

 

 

 

Bidder’s Name

Name/Type of Bid Security

Amount of Bid Security

Amount of Bid as Read

  1. Topmost Development and Marketing Corporation

Surety Bond

Stronghold Insurance Company, Incorporated

Bond No. G (2) 327560

Valid for 120 cd from May 26, 2011

 

P 20,000.00

P 345,412.50

  1. Iloilo City Hardware Inc.

Manager’s Check

# 0000011391

Dated July 22, 2011

China Bank – Mabini, Iloilo

P 7,175.00

P 350,608.00

 

B. Approved Budget for the Contract (ABC) – P 358,685.00

Check submitted by Iloilo City Hardware Inc. as Bid Security was deposited at the Office of the Municipal Treasurer. Official receipt was issued to the representative. Surety Bond submitted by Topmost Development and Marketing Corporation was put on file.

The committee will again meet for the succeeding schedule of activities.

There having no other remaining topics for discussion, the bidding was adjourned at 2:45 p.m.