| Work Detail |
The Mayor of the City of Bacolod has awarded the Bacolod Super City Project, with a project cost of PHP 2.105 Billion (US$ 36 million), to the Original Proponent, HIGHDATA INFRA CORP. The winning private proponent is now required to sign an official receipt and submit the following documents. The required performance security is stipulated in the Build-Transfer-Maintain Agreement. Proof of commitment for the necessary equity contribution, which may include a Treasurer’s Affidavit, certification of paid-up capital, shareholder agreements, or other relevant documentation. Evidence of financial commitments from reputable institutions, ensuring sufficient credit lines to cover the project cost. Authorization document confirming the signatory’s authority to sign the agreement on behalf of the winning private proponent agreement. Failure to submit the required documents within the specified timeframe will result in the automatic cancellation of the Notice of Award and the forfeiture of the winning proponent’s bid security. Additionally, the winning proponent must sign the contract within five calendar days of receiving notice from the City of Bacolod confirming compliance with all award conditions. Failure to do so within the given period will also lead to the forfeiture of the bid security and the withdrawal of the Notice of Award. |
