2017-12-21

NPM No. 055-2017

Requesting Entity: BUREAU OF INTERNAL REVENUE

Issues Concern: Performance Security and Warranty Security

 

Details

Determination of the amount of Performance Security and Warranty Security to require from suppliers in any of the alternative modes


   The imposition of performance or warranty security and determination of the amount or rate of performance and warranty security shall depend on which alternative method of procurement is adopted by the Procuring Entity. The amount of performance and warranty securities shall depend on the form chosen by the winning bidder and shall be based on the total contract price and not on the Approved Budget of the Contract (ABC) pursuant to Sections 39 and 62 of the 2016 IRR of RA 9184.