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Asphalt Overlay of CDC Roads - Clark Freeport Zone

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5.4. Unless otherwise provided in the BDS, the Bidder must havecompleted at least one contract similar to the Project the value <strong>of</strong>which, adjusted to current prices using the National Statistics Officeconsumer price index, must be at least equivalent to a percentage <strong>of</strong>the ABC stated in the BDS.For this purpose, contracts similar to the Project shall be thosedescribed in the BDS, and completed within the relevant period statedin the Invitation to Bid and ITB Clause12.1 (a) (iii).5.5. Unless otherwise provided in the BDS, the Bidder must submit acomputation <strong>of</strong> its Net Financial Contracting Capacity (NFCC) or aCommitment from a Universal or Commercial bank to extend a creditline in its favor if awarded the contract for this project (CLC).The NFCC, computed using the following formula, must be at leastequal to the ABC to be bid:NFCC = [(Current assets minus current liabilities) (K)] minus thevalue <strong>of</strong> all outstanding or uncompleted portions <strong>of</strong> the projectsunder ongoing contracts, including awarded contracts yet to bestarted coinciding with the contract for this Project.Where:K = 10 for a contract duration <strong>of</strong> one year or less, 15 for a contractduration <strong>of</strong> more than one year up to two years, and 20 for acontract duration <strong>of</strong> more than two years.The CLC must be at least equal to ten percent (10%) <strong>of</strong> the ABC forthis Project. If issued by a foreign Universal or Commercial Bank, itshall be confirmed or authenticated by a Universal or CommercialBank. In the case <strong>of</strong> local government units (LGUs), the Bidder mayalso submit CLC from other banks certified by the Bangko Sentral ngPilipinas (BSP) as authorized to issue such financial instrument.6. Bidder’s Responsibilities6.1. The Bidder or its duly authorized representative shall submit a swornstatement in the form prescribed in Section IX Bidding Forms asrequired in ITB Clause 12.1. (b) (iii).6.2. The Bidder is responsible for the following:(a)(b)Having taken steps to carefully examine all <strong>of</strong> the BiddingDocuments;Having acknowledged all conditions, local or otherwise, affectingthe implementation <strong>of</strong> the contract;11<strong>Clark</strong> Development CorporationSection II Instructions to Bidders<strong>Asphalt</strong> <strong>Overlay</strong> <strong>of</strong> <strong>CDC</strong> <strong>Roads</strong>

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