Requesting Entity: Mactan-Cebu International Airport Authority
Issues Concern: Rural Bank Guarantee as Bid Security
Whether or not there is an existing prohibition on the part of the procuring entity from accepting a bank guarantee issued by a rural bank as bid security
[T]here is no existing resolution, circular or memorandum specifically prohibiting procurement entities from accepting bank guarantees issued by rural banks. Republic Act 9184 or the Government Procurement Reform Act and its Implementing Rules and Regulations Part A are likewise silent on the matter. At present, the only qualification provided in the IRR-A is that the bid security must be confirmed by are reputable local bank.