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What is one of the conditions for the advance payment to a contractor or small/microenterprise according to the text?
What is one of the conditions for the advance payment to a contractor or small/microenterprise according to the text?
- Withdrawal of the advance requires only the signature of the Public Body.
- The advance should be deposited in a general bank account. (correct)
- The advance should be in excess of 50% for road construction contracts.
- The payment should be made in cash directly to the contractor.
How can the advance payment be withdrawn based on the agreement?
How can the advance payment be withdrawn based on the agreement?
- Only by the supplier's signature.
- Through the joint signature of the Public Body and the supplier. (correct)
- By the sole signature of the Public Body.
- By authorization from the procurement endorsing committee.
When is payment made to the contractor or small/microenterprise?
When is payment made to the contractor or small/microenterprise?
- When it is confirmed that part of their obligation under the contract is fulfilled. (correct)
- Irrespective of the progress on the contract.
- Before any project obligation is performed.
- Upon completion of the project.
How much of an advance payment can be used for equipment acquisition in road construction contracts?
How much of an advance payment can be used for equipment acquisition in road construction contracts?
Under what condition can a contractor use part of the advance payment for equipment acquisition?
Under what condition can a contractor use part of the advance payment for equipment acquisition?
What type of bank account should be opened for depositing the advance payment?
What type of bank account should be opened for depositing the advance payment?
What is required for the contractor to move the equipment acquired with the advance payment to the project site?
What is required for the contractor to move the equipment acquired with the advance payment to the project site?
When can a subsequent installment due to a contractor be disbursed?
When can a subsequent installment due to a contractor be disbursed?
What is a prerequisite for deducting an advance payment made to a contractor?
What is a prerequisite for deducting an advance payment made to a contractor?
What is essential for a contract between a Public Body and a supplier to be considered valid?
What is essential for a contract between a Public Body and a supplier to be considered valid?
What must be clearly stated in a contract between a Public Body and a supplier?
What must be clearly stated in a contract between a Public Body and a supplier?
What is required for a contract to be deemed concluded between the Public Body and the successful bidder?
What is required for a contract to be deemed concluded between the Public Body and the successful bidder?
What information should a letter of contract award, sent to a successful bidder, contain?
What information should a letter of contract award, sent to a successful bidder, contain?
If the successful bidder refuses to sign a contract, what action can the Public Body take?
If the successful bidder refuses to sign a contract, what action can the Public Body take?
Under what condition does the Public Body return bid security to unsuccessful bidders?
Under what condition does the Public Body return bid security to unsuccessful bidders?
What does the Public Body do when a successful bidder cannot or is unwilling to sign a contract?
What does the Public Body do when a successful bidder cannot or is unwilling to sign a contract?
What is one of the necessary elements for a Public Body to announce the successful bidder?
What is one of the necessary elements for a Public Body to announce the successful bidder?
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