REGISTRATION PROCEDURES FOR BIDDERS ACCREDITATION:

All interested buyers must first undergo the accreditation procedures before participating in any of the ongoing bidding activities.

There are two ways to register as an accredited bidder.

Manual Registration

1. Print and Fill out the KYC form completely
2. Provide a clear photocopy of one (1) valid government issued ID with Photo and affix your signature thrice beside the ID.
3. Pay the Cash Bond deposit Php 10,000.00
4. Submit accreditation documents to our office personally:
   • Majo Samson
   • PLGIC Administration Department
   • 9th floor, Sage House, 110 V. A. Rufino,
   • Legaspi Village, Makati City, 1229 Philippines
5. Accreditation approval can be given within the day upon verification that all documents submitted are complete. A confirmation will also be sent to the sender’s designated email together with his Bidder’s ID number.

Online Registration

1. Go to the registration page, fill out and attach the required documents.
2. Pay the one-time cash bond requirement.
3. Wait for validation/activation email.
4. Once registration has been validated, you will receive your Bidder’s Identification No. which you must use whenever you participate in a bid transaction.

Note: All new bidders are required to pay upon registration the cash bond requirement equivalent to TEN THOUSAND PESOS (Php 10,000.00). This amount cannot be used as part of the payment in case the bidder has been awarded an item but is Refundable after the bidder’s status has been declared as inactive.

Bid Guidelines & Rules

• Interested buyers can participate on a bid either via (a) Manual Submission of Bid (b) Online Bidding Facility.
• All items for bidding are on an As/is Where/is basis. We will not repair or transport the items to the location of the buyer.

For Manual submission, interested buyers can secure a copy of the bid form at the 15/F reception area of Sage House or Download it here.

Bid forms must be placed in a sealed letter envelope and labelled with the (a) Bidders Name, (b) Description of the item and (c) Item No. on the top left hand corner and must be addressed to any of the authorized PLGIC personnel:

MAJO SAMSON of Admin Department (9F)
ANGELINA TANDOC of Non-Life Cashier (12)

FORMAT TO BE FOLLOWED

Kindly fill out the bid form completely and legibly. Submit one sealed bid for each item.

Submitted bids will be logged accordingly. Only recorded bids will be included.

All bids must be submitted by 5:00pm on or before the bid deadline.

For Online submission, a reference number will be given upon submission of each bid. Only bids coming from accredited participants shall be considered as a valid transaction.

All bids, manual and online submissions shall be opened in the presence of the President & COO at the soonest possible time after the bid deadline.

PLGIC will notify the winner via email. The winning bidder must pay within 5 working days after receipt of email notification. All payments must be settled via payment at any of Paramount’s branch office or via bank deposit.

Should there be delays in securing the item’s ownership papers at the time of bid awarding; PLGIC will just notify the winner as soon as the remaining documents are available for release.

Information pertaining to the submitted bids must be kept confidential. This includes, but not limited to, questions or inquiries to the number of bids already submitted. Everything shall be kept confidential until the bid deadline.

The President shall declare a floor prize for the vehicle. Bids below the floor prize bid shall automatically lose the bidding. In the event that all submitted bids fall below the floor prize, then no winner will be declared and the vehicle shall remain as Company property.

Failure to settle payments for the awarded item shall result to becoming blacklisted and cash bond deposit shall be forfeited.

In the event that a failed bid has been declared, the item shall be put up for re-bidding.