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PHILIPPINE BIDDING DOCUMENTS Procurement of GOODS Government of the Republic of the Philippines Third Edition October 2009 Section II. Instructions to Bidders 2 TABLE OF CONTENTS A. GENERAL ..............................................................................................5

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How to fill out bid validity

How to fill out bid validity:

01

Start by locating the bid validity section on the bid document. This section is typically found near the beginning or end of the document and may be labeled as "bid validity" or "validity period."

02

Determine the length of time for which your bid will remain valid. The bid validity period refers to the duration during which your bid is binding and can be accepted by the client. This period is usually specified in the bid document and can range from a few weeks to several months.

03

Carefully read and understand any specific instructions or requirements regarding bid validity stated in the bid document. Some clients may require bidders to extend the bid validity period upon request, while others may not allow any extensions.

04

Fill in the start date and end date of the bid validity period in the designated fields or sections of the bid document. Make sure to accurately input the dates to avoid any confusion or discrepancies.

05

Review your bid validity section to ensure all required information is provided. Double-check for any errors or missing details that may invalidate your bid.

06

Sign and date the bid validity section to confirm your understanding and compliance with the specified validity period.

07

Keep a copy of the completed bid document for your records and submit the original bid document as instructed by the client.

Who needs bid validity:

01

Contractors: Contractors or service providers who are bidding for projects or contracts need bid validity. It allows them to provide a fixed period during which they commit to honoring their submitted bids.

02

Clients: Clients who receive bids from multiple contractors rely on bid validity to ensure that the contractors' offers are still valid and binding. It helps clients determine which bids are still available for consideration and potential acceptance.

03

Procurement professionals: Professionals involved in procurement or purchasing within organizations also need bid validity. It enables them to assess and compare bids accurately, considering the offers within the specified validity period.

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What is bid validity?

Bid validity refers to the duration for which a bid remains active and legally binding after submission.

Who is required to file bid validity?

The bidder who submitted the bid is required to file bid validity.

How to fill out bid validity?

Bid validity is typically filled out by including the bid submission date, the duration for which the bid will remain valid, and any conditions that may affect its validity.

What is the purpose of bid validity?

The purpose of bid validity is to ensure that bidders commit to their offers for a specified period, allowing the buyer time to evaluate and award the contract.

What information must be reported on bid validity?

The bid validity should include the bid submission date, the duration the bid will remain valid, any conditions affecting validity, and the signature of the bidder.

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