Requesting Entity: Prince Valiant International Corporation

Issues Concern: Audited Financial Statement (AFS)

Details

1. Is an AFS stamped “received” by government banks, such as Landbank, is sufficient compliance with the eligibility requirement under Republic Act (RA) No. 9184 and its revised Implementing Rules and Regulations (IRR).

2. What institutions are classified under “duly accredited and authorized institutions” in Clause 12(a)(iv) of the Instructions to Bidders (ITB) of the Philippine Bidding Documents (PBDs) for goods?

[O]nly AFS, stamped “received” by the BIR or its duly accredited and authorized institutions, for the preceding calendar year which should not be earlier than two (2) years from the date of bid submission, is acceptable as eligibility document. xxx Additionally, in determining whether an institution is accredited and authorized by the BIR, verification can be made with the said agency.