The "Notice of Award", which is issued by the LCE, shall indicate, among others, the following:
a. prescribed performance security
b. proof of commitment of the required equity contribution, as specified by the LGU:
i. in the case where the Project Proponent is a corporation - e.g., treasurer's affidavit attesting to actual paid-up capital, subscription agreement(s) between a shareholder(s) of the Project Proponent and the Project Proponent itself covering said equity contribution, or shareholders agreement between and amongst 2 or more shareholders of the Project Proponent undertaking to contribute/subscribe the required equity contribution; or
ii. in the case of a joint venture/consortium - an undertaking of the members thereof to infuse the required equity contribution to the joint venture/consortium.
c. proof of firm commitments from reputable financial institution to provide sufficient credit lines to cover the total estimated cost of the project
d. in the case of a joint venture/consortium, the agreement indicating that the members are jointly and severally liable for the obligations of the Project Proponent under the contract
e. such other conditions imposed by the LGU
Failure to submit the requirements within the prescribed 30-calendar day period will result in confiscation of the bid security. Within 7-calendar days upon receipt of the foregoing requirements for award, the LCE shall determine and notify the winning bidder of its compliance of all the conditions stated in the said notice.