As required by the LGU, upon submission of the Bid, BIDDER shall post with LGU a Proposal Bond in the amount specified in the Instructions to Bidders in US $ or its equivalent in the Philippine Pesos at the BSP exchange rate prevailing five (5) days before bid opening date.
Proposal Bond: | |
| _____________________________________________________ |
| (State Amount) |
| _____________________________________________________ |
| (Form of Security) |
| ______________________________________________________ |
| (Bonding Company) |
| ______________________________________________________ |
| (Bonding Company) |
| ______________________________________________________ |
| (Validity Period) |