Currencies of Bids and Payment

- In the Form of Bid and Price Schedules, the Bidder shall indicate the Bid Prices in the currency of the Bidder’s own country, subject to acceptance by the Owner, and/or in U.S. Dollar except for the portion of his price in which the Bidder ex-pects to spend in Indonesia, which he should state in Indonesian Rupiah. If the Bidder expects that his work under the proposed contract will involve substantial expenditure in countries other than his home country or Indonesia, he may state the corresponding portion of his proposal price in the currencies of these countries. Indonesian Bidders should state the local component in Indonesian currency and the foreign component in appropriate foreign currencies.
The currencies of the Bid Prices so quoted shall be consistent with the Offer of Fi-nance.

- The Contract Price will be paid in the currency or currencies in which the Bid Prices have been stated in the successful Bid.

- All Bid Prices quoted in foreign currency in the Price Schedules shall be on a fixed basis and therefore shall not be subject to any price escalation.

All Bid Prices quoted in local currency in the Price Schedules, may be adjusted pursuant to Clause _____ (Price Adjustment) of the General Terms and Conditions of the Contract. The price breakdown schedule of the civil works and erection works in the Price Schedules will be used as the base for the calculation of price escalation of the local currency prices.

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