Notice of Award
August 15, 2012
MS. LILIA K. COO
ILOILO CITY HARDWARE INC.
Iznart St., Iloilo City
We are happy to notify you that your Bid dated July 17, 2012 for execution of Supply and Delivery of Materials and Supplies for the Construction of New Market Stall, Miagao Public Market, Miagao, Iloilo for the Contract Price of equivalent to One Hundred Forty Eight Thousand Six Hundred Eighty Two Pesos and Five Centavos (P 148,682.05) Pesos 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.