PROCUREMENT OF SECURITY SERVICES REQUIREMENT ... - NFA

(b) Bank draft/guarantee or irrevocable letter of creditissued by a Universal or Commercial Bank: Provided,however, that it shall be confirmed or authenticatedby a Universal or Commercial Bank, if issued by aforeign bank.(c) Surety bond callable upon demand issued by a suretyor insurance company duly accredited by NFA and dulycertified by the Insurance Commission as authorized toissue such security.(d) Any combination of the foregoing.Five percent (5%) of ABCPhp1,203,760.35Thirty percent (30%)Php7,222,562.10Proportionate to share of form withrespect to total amount of securityTo guarantee the faithful performance of the Contractor of his/her obligations under the contract,he/she shall post the required performance security.34.2 The effectivity date of the Contract shall be reckoned from the date of deployment as stated in theNotice to Proceed.35 Additional Instructions:1. Ownership of Bid Documents: All documents submitted for the bidding shall become the propertyof NFA, which may use such information including copying of the same for bid evaluationpurposes.2. Protests on Decision of the NFA BAC2.1 Decisions of the NFA BAC with respect to the conduct of bidding may be protested in writing tothe head of the procuring entity. Provided, however, that a prior motion for reconsiderationshould have been filed by the party concerned within the reglementary periods, and the samehas been resolved. The protest must be filed within three (3) calendar days from receipt bythe party concerned of the resolution of the NFA BAC denying its motion for reconsideration.A protest may be made by filing a verified position paper with the head of the procuring entityconcerned accompanied by the payment of a non-refundable protest fee. The nonrefundableprotest fee shall be in an amount equivalent to no less than one percent (1%) ofthe Approved Budget for the pertinent item (s) being bid.The verified position paper shall contain the following information:a. The name of the Bidders;b. The office address of the Bidder;c. The name of the project/contract;d. The implementing office/agency or procuring entity;e. A brief statement of facts;f. The issue to be resolved; andg. Such other matters and information pertinent and relevant to the proper resolution ofthe protest.The position paper is verified by an affidavit that the affiant has read and understood thecontents thereof and that the allegations therein are true and correct of his personalknowledge or based on authentic records. An unverified position paper shall be consideredunsigned, produces no legal effect, and results to the outright dismissal of the protest.37