All Project Proponents must furnish, as part of its Proposal, a Bid Security in accordance with the following schedules:
PROJECT COST (as estimated by the Agency/ LGU or proposed by the Project Proponent) | REQUIRED BID SECURITY |
Less than Php 5.0 billion | 2.0% of the Project Cost |
Php 5.0 billion to less than Php 10.0 billion | 1.5% of the Project Cost or Php 100 million, whichever is higher |
Php 10.0 billion and more | 1.0% of the Project Cost or Php 150 million, whichever is higher |