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Query on contract price adjustment

Query on contract price adjustment

by Jenny Malitao -
Number of replies: 2

Good afternoon po!

The Wage Order NCR No. 25 took effect July 2024. We had our bid opening for security services on June 2024. Can we automatically adjust the contract price based on Section 61.2 of the IRR of RA 9184 which provides " in cases where the cost of the awarded contract is affected by any applicable new laws, ordinances, regulations, or other acts of the Government of the Philippines (GOP), promulgated after the date of bid opening, a contract price adjustment shall be made or appropriate relief shall be applied on a no loss-no gain basis.....?

Maraming Salamat po!

In reply to Jenny Malitao

Re: Query on contract price adjustment

by Jessie Salvador -
I would suggest proceeding with the bids as they were, and then apply the amendment later because this will entail additional funding which may not be consistent with the approved budget for the contract.

After entering into contract (based on bids following the posted ABC). Enter into supplemental agreement/contract to reflect the effect of the wage order.
In reply to Jessie Salvador

Re: Query on contract price adjustment

by Jenny Malitao -

Thank you very much po sir for the clarification and for your prompt response.

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