INVITATION TO BID
The Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) Metro Manila Executive Office and San Juan Branch Invites all interested bidders to submit sealed bids starting December 14, 2022 in its office at Greenhills McKinley Arcade, MA 104-B, Ortigas Avenue, San Juan City, for the sale through Public Bidding of the following items on Cash Basis. Deadline of submission of sealed bids shall be on December 22, 2022 at 1:00 PM.
- The public bidding will be conducted in accordance with COA Circular No. 89-296 dated January 29, 1989;
- The bid form may be obtained personally from the Disposal Committee (DC) on December 14-21, 2022 from 8:30:00 AM to 4:00 PM at the Greenhills McKinley Arcade, MA 104-B, Ortigas Avenue, San Juan City. It can also be downloaded through the Amanah Islamic Bank Website.
- All bid proposals shall use the bid form obtained from the DC. The bid form shall be accomplished in three (3) original copies with signature in each and every page and shall be submitted in a sealed envelope properly addressed to.
- All bids must be accompanied by Invitation to Bid with signature in each and every page as a proof of understanding the mechanics of public bidding and bid bond/s in the form of cash with an amount equivalent to at least 10% of the floor price for the lot to be bid. All checks should be payable to the Operations Sector.
- Qualification of bidders: all individuals, including AAIIBP employees, partnerships and/or corporations are qualified to participate in the public auction subject to the submission of qualification documents, as may be required by the DC. For this bidding, the latest Mayor’s Permit, in the case of business entities, shall be required from participating bidders.
- All interested bidders may conduct ocular inspection of the unserviceable properties on December 19, 2022 at #515 Katarungan Mandaluyong City (EC Storage warehouse) and DBP Warehouse Antipolo, Rizal or you may coordinate through the Operations Sector at MA104-B, Mckinley Arcade Ortigas Avenue Greehills, San Juan City.
- Bid proposals shall be submitted not later than December 22, 2022 until 1:00 PM only through the DC at Greenhills McKinley Arcade, MA104-B, Ortigas Avenue, San Juan City. The public bidding shall be conducted on a lot and “As is, Where is” bases subject to other terms and conditions which DC may impose. Late bids shall not be accepted. The opening of the bids will be on December 22, 2022- 1PM, immediately after the deadline at the Conference Room.
- The envelope containing the bid form and other requirements should be sealed and signed by the bidder and properly labeled containing the name of the bidder and the lot to be bid. The bid tenders that are not in the prescribed form or format (e.g. unsigned bids, etc.) and/or those not accompanied by the signed Invitation to Bid and/or bid bonds at the time the of opening of bids shall be considered defective bids which automatically disqualify the respective bidder.
- A bidder may be allowed to withdraw a bid tender before the time of opening of bids. The bid/s shall be returned unopened. Changes shall not be allowed on the bid forms after the deadline for the submission of bids.
- Sealed bids shall be dropped in the bid box located at the Operations Sector, 2nd Floor, AAIIBP - San Juan Branch., Greenhills McKinley Arcade, MA 104-B, Ortigas Avenue, San Juan City. All bids will be opened in the presence of all bidders or their duly designated representative/s and COA representative.
- The winning bidder shall be the proposal with the highest offered price which shall not be lower than the floor price. The declaration of the winning bidder shall immediately follow. The winning bidder shall pay the bid bond to the AAIIBP – San Juan Branch Cashier Section afterwards and shall submit a photocopy of the Official Receipt (OR) to the DC secretariat before issuance of the Notice of Award. Bid bond of non-winning bidder/s shall be returned outright after the declaration of the winning bidder.
- Should there be a tie in the highest offered price, the concerned bidders shall participate in a “toss coin” to break the tie.
- The winning bidder’s bond shall automatically be considered as a partial payment and the balance shall be paid in full to the Cashier Section in the form of cash within five (5) working days from the receipt of the Notice of Award. Payment though salary deduction, in case of winning bidders from AAIIBP, shall not be allowed.
- In case of failure of payment of the bid price within the required period, the award shall be cancelled and the bid bond shall be forfeited. The bidder shall also be blacklisted and shall not be allowed to participate in future biddings for a period of one (1) year from the date of award. The subject items for disposal shall be awarded to the next highest bidder.
- The highest winning bidder shall be responsible for the expenses incidental to the cost of hauling the items subject for disposal. The awardee has fifteen (15) calendar days from the receipt of the Notice of Award to clear the area where the items are located. In case the winning bidder fails to complete the pick-up/hauling of the property within prescribed period, the award shall be revoked/cancelled and the bid bond will be forfeited. The bidder shall also be blacklisted and shall not be allowed to participate in future biddings for a period of one (1) year from the date of award. The next highest bidder shall be awarded the bid, so forth and so on.
- Failure of bidding shall be declared if all prospective bidders are declared ineligible; no bids are received; all bids fail to comply with the bid requirements; all bids are below the floor price; the winning bidder refuses to accept the award or the winning bidder fails to make the payment on time.
- AAIIBP reserves the right to reject any or all bids, or part thereof, waives any formality, requirements or defects contained therein and will accept the offer it considers most advantageous to the government. The decision of the AAIIBP is final and binding.
Interested buyers are enjoined to investigate, inspect and verify the properties listed above to ascertain for themselves the status of the pertinent documents and the actual condition of the properties before participating in the bidding transaction. The properties shall be sold on an “AS IS WHERE IS’ basis and shall be subject to such terms and conditions that may be imposed by the Bank.
Bidders are enjoined to submit bids using AAIIBP’s official bid form together with a signed copy of the bidding rules (to be supplied by AAIIBP).
AAIIBP RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS, TO WAIVE ANY FORMALITIES THEREIN OR TO ACCEPT SUCH BIDS AS MAY BE CONSIDERED MOST ADVANTAGEOUS TO THE BANK. THE DECISION OF THE BANK IS FINAL AND BINDING.