All bid proposals are required to be submitted in a sealed envelope together with bid bond in form of cash equivalent to one percent (1%) of the bid proposal or Ten Thousand Pesos, whichever is higher. Below minimum bid offers shall be automatically disqualified.

Bids will be opened in the with or without the presence of bidders or their respective authorized representatives who choose to attend at the address stated above.  Late bid shall not be accepted. 

In case a tie occurred among the bidders during the opening of bids, a cash basis payment shall be prioritized.

Cash bonds will be returned intact to the losing/disqualified bidders immediately after the bidding process. Winner of the bidding/auction will be declared right after the bidding process   Cash bond of the winning bidder will be properly receipted as reservation fee.

The winning bidder should comply with the terms and conditions within thirty (30) days from the date of bidding.

If the winning bidder did not comply with the terms and conditions within the 30 day period, the offer will expire and twenty percent (20%) of the reservation fee should be forfeited to cover administrative expenses. The presumed property should be offered automatically to the succeeding bidder under the same terms and conditions if he/she meets the minimum or more than bid price.

The Management reserves the right to accept or reject any bid, to annul the bidding process and to reject all bids at any time prior to contract award, without thereby incurring any liability to the affected bidder.

For further information, please refer to the contact details stated below or visit our office located at San Pedro St., City of San Jose del Monte Bulacan.

Any prospective taker may inquire with the Cash and Investment Management Operations Dept. thru Alfredo G. Cruz Jr, Investment and ROPA Officer with contact no. 0943-041-4403 / (044)8152166 and negotiate as regards the selling price with the approval of the Board of Directors.