BIDS AND AWARDS COMMITTEE/ JOINT VENTURE
SELECTION COMMITTEE
NOTICE OF AWARD
MEGABUILD JPG DEVELOPMENT, INC.
ITC Road, ITC Compound
Brgy. Canumay East, Valenzuela City
THRU : MR. JERRY A. LIM
President
Gentlemen:
You are hereby notified that Joint Venture Project Reference No 001-Selection of Joint Venture Partner for the Construction of Valenzuela City Center project has been awarded to your company with a total estimated project cost of ONE HUNDRED AND SEVENTEEN MILLION PESOS (Php 117,000,000.00) broken down as follows:
Civil & Structural works Php 35,000,000.00
Architectural Works Php 25,000,000.00
Electrical & Auxiliary Works Php 10,000,000.00
Mechanical Works Php 10,000,000.00
Plumbing & Sanitary Works Php 12,000,000.00
Fire Protection Works PHP 15,000,000.00
Town Hall Php 10,000,000.00
You are therefore required, within twenty (20) calendar days from receipt of this Notice of Award to submit, as may be applicable to your company, the following:
1. Prescribed performance security;
2. Proof of commitment of the required equity contribution, as specified by the BAC/JV-SC;
3. Proof of firm commitments from reputable financial institution to provide sufficient credit lines to cover the total estimated cost of the project;
4. In the case of a consortium, the agreement indicating that the members are jointly and severally liable for the obligations of Megabuild JPG Development, Inc. under the contract; or
5. In case a special purpose company (SPC) is formed for purposes of undertaking the project, proof of registration in accordance with Philippine laws; or
6. Such other conditions imposed by the BAC/JV-SC.
Failure to comply and/or submit the aforesaid requirements shall constitute a sufficient ground for cancellation of this award and forfeiture of your Bid Security.
Very Truly Yours,
REX Gatchalian
City Mayor
Conforme:
MR. JERRY A. LIM
President
Megabuild JPG Development, Inc.
Date: October 29, 2014