ei RUM Ny toof el NOA-INFRA-2023-03-001 NOTICE OF AWARD March 10, 2023 ENGR. NADZRIMAR A. USMAN USF CONSTRUCTION AND HARDWARE TRAIDING Blk 7, Lot 5, Valle Rosa Subdivision, Araneta Street, Sinunuc, Zamboanga City, Philippines, 7000 Dear Mr. Usman: We are happy to notify you that your Bid dated February 2, 2023 for the “CONSTRUCTION OF ACADEMIC BUILDING (ITB No. 2023-01-01)”, for the Contract Price Nineteen Million Seven Hundred Fifty-One Thousand Nine Hundred Seventy- Three Pesos and Ninety-Three Centavos (Php 19,751,973.93) as corrected and modified in accordance with the instructions to Bidders, is hereby accepted. You are hereby required to provide within ten (10) calendar days the performance security in any of the following acceptable forms, and to formally enter into a contract with the Sulu State College: ‘Amount of Performance Security Form of Performance Security (Equal to percentage of the total | contract price) a. Cash, or cashier's) manager's check, bank draft/guarantee or irrevocable letter of credit issued by a Universal or Commercial Bank. Provided, however, that it shall be confirmed or authenticated by a Universal or | Commercial Bank, if issued by foreign bank. b. Surely bond callable upon demand issued by a surely or insurance company duly certified Php 5,925,592.17 (30%) by the insurance Commission as authorized to issue such security: and/or Php 1,975,197.39 (10%) Proportionate to share of form with cc. Any combination of the Foregoing respect to total amount of security Failure to submit the required Performance Security within the aforementioned prescribed period shall constitute sufficient ground for cancellation of the award, forfeiture of the bid security, and imposition of administrative penalty provided for under section 69 of the Revised Implementing Rules and Regulation (IRR) of the Republic Act (RA) no. 9184, also known as the Government Procurement Reform Act. Very truly/guts, PROFLCHARI SUC President]i! IA S. UTUTALUM, CESE