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Forfeiture of Performance Security - Documents Required

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Forfeiture of Performance Security - Documents Required

Post by regina avelino on Wed May 23, 2012 11:10 am

Hi to all forum members. Our security agency is pre-terminating its security service to our company due to business losses. Query below:

1. Is this a valid ground to forfeit the agency's performance security?
2. What are the required documents that we must obtain prior to forfeiture so that we can present this to court in case the security agency will file illegal forfeiture of the performance security?

thanks in advance


Last edited by regina avelino on Wed May 23, 2012 12:30 pm; edited 1 time in total

regina avelino
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Re: Forfeiture of Performance Security - Documents Required

Post by regina avelino on Wed May 23, 2012 11:12 am

additional query po pala, can we demand damages for this purpose as our company will undergo bidding again just for the replacement of the previous security agency?

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Re: Forfeiture of Performance Security - Documents Required

Post by regina avelino on Thu May 24, 2012 4:56 pm

requesting for comments po. this is based on actual current situation. apprehensive po kami to make the next move because we're not sure po kung tama or mali..... thanks in advance

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Re: Forfeiture of Performance Security - Documents Required

Post by jcolas on Thu May 24, 2012 6:57 pm

"regina avelinowrote"

Hi to all forum members. Our security agency is pre-terminating its security service to our company due to business losses. Query below:

1. Is this a valid ground to forfeit the agency's performance security?
2. What are the required documents that we must obtain prior to forfeiture so that we can present this to court in case the security agency will file illegal forfeiture of the performance security?

thanks in advance.


The company can not unilaterally declare itself insolvent. It is only a competent court of law that can declare the company insolvent. With out that declaration by the court, then the company is duty bound to adhere to its part of the contract and you are with in your right to remind that the company do its part of the contract.
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Re: Forfeiture of Performance Security - Documents Required

Post by regina avelino on Fri May 25, 2012 9:20 am

if the security insists of pre-terminating the contract, we will forfeit the performance security. can we demand damages also???

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Re: Forfeiture of Performance Security - Documents Required

Post by jcolas on Fri May 25, 2012 3:48 pm

"regina avelino wrote"
If the security insists of pre-terminating the contract, we will forfeit the performance security. can we demand damages also???.

As I have said, the Security Agency can not unilaterally terminate the contract. If and when he does that, the agency should send a written notice to the Security Service/Agency to proceed with the contract. After the written notice and the Security Agency abandons or does not honor its end of the contract inspite of the written order from the Procuring Entity, you can now rescind the contract, confiscate the Performance Security of the Security Agency and moved for its blacklisting.
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Re: Forfeiture of Performance Security - Documents Required

Post by regina avelino on Fri May 25, 2012 3:50 pm

noted sir, thanks a lot.

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Re: Forfeiture of Performance Security - Documents Required

Post by jcolas on Fri May 25, 2012 4:01 pm

K lang mam regina...
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Re: Forfeiture of Performance Security - Documents Required

Post by jcolas on Sat May 26, 2012 6:03 pm

Concerning the damages that you mentioned mam regina, the forfeiture of his performance security is a just payment for the incalculable damage that it will wrought the agency if and when the Security Agency insist in unilaterally declaring itself insolvent.
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Re: Forfeiture of Performance Security - Documents Required

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