The Head of the Implementing Agency approved the resolution of the Pre-Qualifications, Bids, and Awards Committee (PBAC) for the Local Government Unit of General Santos City (LGU), recommending the award of the contract for the Unsolicited Proposal (USP) for the
Redevelopment of General Santos City Central Public Market Project, with a total Project Cost of PHP 2,325,290,000.00 (US$40 million), in favor of Robinsons Land Corporation (Original Proponent). 

In compliance with the Public-Private Partnership (PPP) Code of the Philippines and its Implementing Rules and Regulations (IRR), and pursuant to the Instructions to Challengers (ITC) issued for this Project, the implementing agency issues this Notice of Award (NOA) of even date to the Original Proponent. You are required to acknowledge and accept this NOA by signing in the space provided below and returning it to the PBAC within twenty (20) calendar days from receipt, together with the following Post-Award Requirements:

• Cash, irrevocable letter of credit, or bank draft – at least 2% of the total Project Cost, equivalent to PhP 46,505,800.00 (US$798,040)

• Bank guarantee – at least 5% of the total Project Cost, equivalent to PhP 116,264,500.00 (US$2 million)

• Surety bond – at least 10% of the total Project Cost, equivalent to PhP 232,529,000.00 (US$4 million)

If the Original Proponent fails to meet the requirements outlined in this NOA within 20 calendar days from receipt, or within any extension granted by the PBAC, without valid justification acceptable to the LGU, the Bid Security shall be forfeited and this NOA shall be withdrawn. Furthermore, upon confirmation of compliance with the Post-Award Requirements, the Original Proponent must sign the Redevelopment of the General Santos City Central Public Market Contract within 5 calendar days. Failure to do so within the prescribed period will likewise result in the forfeiture of the Bid Security and the withdrawal of this NOA.