UNIVERSITY OF THE PHILIPPINES OPEN UNIVERSITY APPRAISAL AND DISPOSAL COMMITTEE. INVITATION TO A PUBLIC AUCTION The UP Open University (UPOU), through its Appraisal and Disposal Committee (ADC) invites interested bidders/buyers to the public auction (Reference No. 18-05-001) forthe sale of the following equipment classified as unserviceable/scrap materials: QUANTITY DESCRIPTION FLOOR PRICE, 1 Lot Office furniture/equipment 36,782.00 IT equipmentielectronic accessories, vehicle parts, used tres, batteries and other scrap materials 1 unit Motor vehicle - Toyota Tamaraw FX P44,600.00 Bids received less than the floor price/minimum price stated above shall be automatically rejected at bid opening. ‘The award shall be made to the bidder who offered the highest responsive bid. Accash id bond equivalent to 10% of the total bid price shall be posted deposited by the qualified bidder. Interested bidders may obtain further information from the Supply and Property Management Office (SPMO) and inspect the items on 17 May to 28 May 2018 from 8:00 AM until $:00 PM at the Oblation Hall, UPOU. Headquarters, Los Bafios, Laguna, Bids will be opened in the presence of the bidders” representatives who choose to attend the auction proceedings on 29 May 2018, Tuesdav. 1:30 PM at the Audio Visual Room, UPOU Headquarters, Los Banos, Laguna. Late bids shall not be accepted, The UPOU reserves the right to reject any or all bids, to waive any formal requirement therein, and to accept any or all other offers that may be considered advantageous to the University For further information, please refer to MS. PURA SV. AMOLOZA Chief Administrative Officer Supply and Property Management Office (SPMO) UPOU Headquarters, Los Bafios, Laguna Telephone No.: (049) $36-6001-06 local 211 Telefax No.: (049) 536-5991Checklist of Requirements Department of Trade and Industry (DTI) business name registration Valid and current Mayor's permit issued by the city or municipality where the principal place of business is located BIR Registration Income Tax Return (ITR) Bid security/bond equivalent to 10% of the /bidder’s price paid in cash on or before the opening of bids Duly notarized Special Power of Attorney (if the duly authorized company representative is attending the public auction) Sealed bidThe following Terms of Reference shall be observed in the public auction: 1. The auction sale of the properties as published shall be on “AS IS WHERE IS BASIS" and the bidder shall be deemed to have inspected the property. 2. Prospective bidders may request and be allowed to conduct a physical inspection of the property being auctioned before the scheduled deadline of the submission of bids. 3. Bids shall be indicated in the Bid Form and shall be placed in a sealed envelope and submitted on or before the opening of the Bids. 4, Each bid must be accompanied by a Bid bond/security paid in the form of cash in the amount equivalent to ten percent (10%) of the total bid offered. The bond shall be returned only after the items have been completely removed/hauled, and cleaned up of the site, within the prescribed period. The bond/security shall form part of the bid or payment if the sale is awarded to the bidder, unless forfeited by reason of default. The bond/security of the losing, bidder's shall be returned after the announcement of the winning bidder. 5. Failure to comply with any provision in item 4 shall cause the forfeiture of the winning bidder's bond and the cancellation of the award in favor of the University without further proceedings. 6, Representatives of participating establishments shall present an authorization to sign for the parent establishment (junkshop).. 7. Only bids equal to or higher than the floor price/minimum bid price as specified in the Invitation to Bid shall be evaluated by the Appraisal and Disposal Committee (ADC). 8, The Bidder who submits the highest bid shall, after proper evaluation, be awarded the auctioned property. In case of tie-bids, a new sealed bidding shall immediately be conducted among the tie-bidders until such tie is broken. 9. In case of default by the winning bidder and the consequent cancellation of the award, the second and the third highest bidder may increase their bid to the amount equal to or higher than that of the highest bid and whoever among them tenders a bid equivalent to or higher than the bid of the defaulting highest bidder shall be awarded the auctioned property. The defaulting hhighest bidder shall be disqualified to further bid on the rest of the auctioned property. 10. Failure or refusal of the winning bidder to pay the full amount of the bid within the period aforestated and failure to claim/haul the items within the day after the award of bid shall render the award void and the bidder's bond shall be forfeited in favor of the university without further proceedings. 11. In case there is no bidder or if the highest bid for the properties is less than the minimum or floor price, or if the floor price is later found to be not the current fair market value of the property. or if the bid price is found to be disadvantageous to the university, the bid shall be