Letter of Award - Agreement

LETTER OF AWARD AND AGREEMENT
BIDS AND AWARDS COMMITTEE
Project No. [00000-XXX]

Document No. [XXX-000]
Date : [Date]
[CONTRACTOR’S COMPANY NAME]

[Contractor’s Company Address]
ATTENTION : [CONTRACTOR’S AUTHORIZED REPRESENTATIVE]

[Position]
PROJECT : [PROJECT SCOPE] at

[Project Address]
Gentlemen :
This is to formally advise you that we are awarding the above subject under the
following terms and conditions :
A. CONTRACT PRICE :
A total price of [CONTRACT PRICE IN TEXT] ([CONTRACT PRICE

IN NUMBERS]) VAT INCLUSIVE.
The contract price shall be fixed and firm and shall not be subject to price
escalation for its entire project duration but shall only be adjusted in case of
approved additive and deductive change orders or extra works. Quantities for
additive or deductive change orders shall be submitted by the Contractor for
approval and acceptance by {Your Company’s Name}. The agreed unit rates for
the additive/deductive change orders or extra works shall be used to determine
the cost of such possible change order or extra works.
B. SCOPE OF WORK :
[PROJECT SCOPE] in accordance with the plans and specifications issued by

{Your Company’s Name}.
C. COMPLETION TIME : [completion time].
D. GUARANTEE PERIOD : [guarantee/warranty period].
Page 1 of 4
E. TERMS OF PAYMENT : [terms of payment].
F. OWNER SUPPLIED MATERIALS : [list of OSM if applicable]
G. REQUIRED BONDS :
Surety Bond (equal to amount of DP)

Performance Bond (100%)
Guarantee Bond (10% )
Others (Please specify)
Period covered:
The bond shall commence on the start date indicated in the Notice to Proceed and
expire upon hand-over, meaning completion and acceptance of the project.
The contractor will be principally responsible in making sure that the required
bonds and insurance are in full force and effect for the actual duration of the
work. In case the project cannot be completed on the projected completion date,
the contractor with the conformity of {Your Company’s Name} shall request for
the necessary extension of coverage to end on the revised completion date.
Premiums, if any, will be for the contractor’s account.
All bonds and insurance coverage (Contractor’s All Risks, General Public
Liability, etc.) shall be secured from the In-house insurance agency of the Owner.
In case the contractor after award will not request for a downpayment, the
corresponding surety bond will be waived accordingly.
In case the contractor after award will only request for payment upon
completion,
both surety and performance bonds will be waived accordingly.
NOTE TO INSURANCE COMPANY : BOND IS CALLABLE UPON DEMAND
H. CONTRACT DOCUMENT
The following documents shall be deemed to form an integral part of this

Letter of Award and Agreement for Construction and together with this Letter of Award
and Agreement are collectively referred to as the “Contract Documents.”
a. This Letter of Award and Agreement for Construction

b. General Conditions of Contract
c. Plans and Specifications
d. Scope of Works
e. Owner Supplied Materials
Page 2 of 4
f. Additional Documents: bid documents, bid bulletins, correspondences and
documents duly identified and agreed by the Owner and the Contractor
In the event the award is acceptable, kindly signify conformity by signing at the
space provided for.
Very truly yours,

{Your Company’s Name}
PRINTED NAME & SIGNATURE PRINTED NAME & SIGNATURE

Procurement Head Authorized Representative
PRINTED NAME & SIGNATURE

Owner
CONFORME : [CONTACTOR’S COMPANY NAME]
[Contractor’s Authorized Representative]

[Position]
SIGNED IN THE PRESENCE OF:
__________________________________
_________________________________
Page 3 of 4
ACKNOWLEDGMENT
BEFORE ME, a Notary Public for and in _______________________________ on this

____________________ personally appeared :
NAME CTC NO. DATE/PLACE ISSUED
[Owner’s Name] - -
[Contractor’s Name]
known to me and to me known to be the same persons who have executed the foregoing
instrument including the annexes and acknowledged to me that the same is their free and
voluntary act and deed as well as that of the entities herein represented.
WITNESS MY HAND AND SEAL at the Municipality of _______________________,

this
_______________________________.
Doc. No. :
Page No. :
Book No. :
Series of 20--
Page 4 of 4

Letter of Award - Agreement

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What are the contractor's obligations for bonds and insurance?

LETTER OF AWARD AND AGREEMENT

BIDS AND AWARDS COMMITTEE

Project No. [00000-XXX]

[CONTRACTOR’S COMPANY NAME]

ATTENTION : [CONTRACTOR’S AUTHORIZED REPRESENTATIVE]

PROJECT : [PROJECT SCOPE] at

A total price of [CONTRACT PRICE IN TEXT] ([CONTRACT PRICE

[PROJECT SCOPE] in accordance with the plans and specifications issued by

C. COMPLETION TIME : [completion time].

D. GUARANTEE PERIOD : [guarantee/warranty period].

F. OWNER SUPPLIED MATERIALS : [list of OSM if applicable]

Surety Bond (equal to amount of DP)

NOTE TO INSURANCE COMPANY : BOND IS CALLABLE UPON DEMAND

The following documents shall be deemed to form an integral part of this

a. This Letter of Award and Agreement for Construction

Very truly yours,

PRINTED NAME & SIGNATURE PRINTED NAME & SIGNATURE

PRINTED NAME & SIGNATURE

CONFORME : [CONTACTOR’S COMPANY NAME]

[Contractor’s Authorized Representative]

SIGNED IN THE PRESENCE OF:

BEFORE ME, a Notary Public for and in _______________________________ on this

NAME CTC NO. DATE/PLACE ISSUED

WITNESS MY HAND AND SEAL at the Municipality of _______________________,

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