NPM No. 115-2017
Requesting Entity: Local Government of Taal, Batangas
Issues Concern: Grant of Advance Payment
Can the Procuring Entity grant the request of the supplier for the 15% advance payment, as supported by a letter of credit
[A] claim of advance payment not exceeding 15% of the contract amount shall be allowed and paid within 60 calendar days from the signing of the contract provided that the bank guarantee or letter of credit must satisfy the above mentioned requirements in accordance with Section 4.5 of Annex “D” or the Contract Implementation Guidelines for the Procurement of Goods, Supplies and Material.