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The required submission of NFCC computation OR committed Line of Credit is for the purpose of establishing the bidder's liquidity, its capacity to absorb the additional obligations in connection with the contract submitted for bids, and to finance its implementation or completion.
The NFCC computation requires current asset and current liabilities only. The variable "K" would pertain to the duration of the project that you are bidding out, or the number of months/years you are requiring the contractor to complete the project.
NFCC = [(Current assets minus current liabilities) (K)] minus the value of all outstanding or uncompleted portions of the projects under ongoing contracts, including awarded contracts yet to be started coinciding with the contract to be bid.
The NFCC is computed using the values of the current assets and liabilities appearing in the bidder's submitted AFS stamped "received" by the BIR or its duly accredited and authorized institutions for the preceding calendar year.
The required submission of NFCC computation OR committed Line of Credit is for the purpose of establishing the bidder's liquidity, its capacity to absorb the additional obligations in connection with the contract submitted for bids, and to finance its implementation or completion.
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The NFCC computation requires current asset and current liabilities only. The variable "K" would pertain to the duration of the project that you are bidding out, or the number of months/years you are requiring the contractor to complete the project. If the contract duration is 1 year or less, K.
Credit counseling organizations can advise you on your money and debts, help you with a budget, and offer money management workshops. The CFPB's Debt Collection Rule clarifying certain provisions of the Fair Debt Collection Practices Act (FDCPA) became effective on November 30, 2021.
National Foundation for Credit Counseling (NFCC)
The NFCC is computed using the values of the current assets and liabilities appearing in the bidder's submitted AFS stamped "received" by the BIR or its duly accredited and authorized institutions for the preceding calendar year.
Under debt management plans credit counselors usually do not negotiate any reduction in the amounts you owe - instead, they can lower your overall monthly payment. They may do so by getting the creditor to increase the time period over which you can repay a loan. They may also get creditors to lower the interest rates.

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