Improvement of FPA Laboratory - Fertilizer and Pesticide Authority

(a)(b)(c)(d)(e)(f)(g)Contract Agreement;Bidding Documents;Winning bidder’s bid, including the Technical and Financial Proposals,and all other documents/statements submitted;Performance Security;Credit line in accordance with ITB Clause 5.5, if applicable;Notice of Award of Contract; andOther contract documents that may be required by existing laws and/orspecified in the BDS.32. Performance Security32.1. To guarantee the faithful performance by the winning Bidder of itsobligations under the contract, it shall post a performance security within amaximum period of ten (10) calendar days from the receipt of the Notice ofAward from the Procuring Entity and in no case later than the signing of thecontract.32.2. The performance security shall be denominated in Philippine Pesos andposted in favor of the Procuring Entity in an amount equal to the percentageof the total contract price as stated in the BDS in accordance with thefollowing schedule:Form of Performance Security(a) Cash or cashier’s/manager’scheck issued by a Universal orCommercial Bank.(b) Bank draft/guarantee orirrevocable letter of creditissued by a Universal orCommercial Bank: Provided,however, that it shall beconfirmed or authenticated by aUniversal or Commercial Bank,if issued by a foreign bank.(c) Surety bond callable upondemand issued by a surety orinsurance company dulycertified by the InsuranceCommission as authorized toissue such security; and/or(d) Any combination of theforegoing.Amount of Performance Security(Equal to Percentage of the TotalContract Price)Five percent (10%)Thirty percent (30%)Proportionate to share of form withrespect to total amount of security35