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SOCIAL SECURITY SYSTEMPHILIPPINE BIDDING DOCUMENTS Sixth EditionProcurement of GOODS SERVICE VEHICLES ITBSSSGOODS2024029Government of the Republic of the Philippines MAY 2024Teddy N. Carreon TWG ChairpersonTable

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How to fill out bid and payment currencies

01

Start by identifying the currency options available for bidding and payment.

02

Select the appropriate bid currency from the dropdown menu or list provided.

03

Enter the bid amount in the chosen currency accurately.

04

Review the payment currencies available for completing the transaction.

05

Choose your preferred payment currency based on the options listed.

06

Confirm that all selected currencies are consistent with your bidding strategy and budget.

Who needs bid and payment currencies?

01

Contractors and vendors participating in bidding processes.

02

Companies involved in procurement and supply chain management.

03

Freelancers offering services that require upfront bids and payment agreements.

04

Organizations running auctions or competitions that involve multiple currencies.

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What is bid and payment currencies?

Bid and payment currencies refer to the specific currencies that are used in the bidding process and for making payments related to contracts or purchases.

Who is required to file bid and payment currencies?

Entities participating in contracts or bidding processes, typically businesses or organizations, are required to file bid and payment currencies.

How to fill out bid and payment currencies?

To fill out bid and payment currencies, individuals must provide details of the currency being used, specify the amounts, and include any relevant conversion information if multiple currencies are involved.

What is the purpose of bid and payment currencies?

The purpose of bid and payment currencies is to standardize the information regarding monetary transactions in bidding and procurement processes, ensuring transparency and clarity.

What information must be reported on bid and payment currencies?

Information that must be reported includes the currency type, the amounts bid or to be paid, payment terms, and any applicable exchange rates.

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