Bids and Awards

JV-004-Selection of Joint Venture Partner for the Valenzuela City Public Pay Parking System

This bidding was: successful by MR. SOLOMON SAY on May 14, 2019

BIDS AND AWARDS COMMITTEE
JOINT VENTURE- SELECTION COMMITTEE


NOTICE OF AWARD
14 May 2019


Tokagawa Global Corporation

U-1204 139 Corporate Center, 139 Valero St.,
Bel-Air, Makati City.            

THRU            :           MR. SOLOMON SAY
                                  President


Gentlemen:

You are hereby notified that Joint Venture Project Reference No 004-Selection of Joint Venture Partner for the Valenzuela City Public Pay Parking System has been awarded to your company with a total estimated project cost of Twenty Seven Million Pesos (Php27,000,000.00) based on the conceptual plan of the Project, inclusive of capital expenditure and other expenses.

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 (at least 30%);
  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 Tokagawa Global Corporation 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. SOLOMON SAY
President
TOKAGAWA GLOBAL CORPORATION


Date: 14 May 2019





Skp/mlz/ARY