2010 BIDDING FOR THE OUTSOURCING OF THE AUDIT OF PAYMENTS
OF INSURED DEPOSITS IN LEGACY BANKS

This is to notify the bidders of the amendment/ clarifications in the Terms of Reference (TOR) as discussed during the Pre-bid Conference conducted on November 19, 2010 at the Resource Center Conference Room, 6th floor, SSS Bldg., Ayala Avenue, Makati City.

1. Amendment to the TOR

   1.1. The Senior Supervising Audit Staff, Team Leader and at least ten (10) of the Team Members are required to be Certified Public Accountants (CPA).

   1.2. The winning bidder shall complete the project within the period and schedule specified. Any request for extension or modification of the schedule may be granted only upon the exclusive discretion, evaluation and approval of the PDIC Internal Audit Group. The request for extension shall be made in writing, based on reasonable justification/s, and submitted at least 15 calendar days prior to the end of the engagement. Any amendment or modification of the schedules shall be at no additional cost to PDIC.

2. Clarification in the TOR

   2.1. The out of pocket expenses, which shall be borne by the winning bidder, includes cost of supplies and materials to be used by the Project Team during the entire duration of the engagement.

BIDS AND AWARDS COMMITTEE

November 22, 2010