The first bid held on October 8th was declared vacant.
This system will consist of an alternate payment mechanism to the exchange system, to be implemented and operated by an independent Financial Manager of Transportation.
The State will sign the contract with the Financial Manager and ensure it will receive remuneration according to the service, passengers carried and other terms and conditions of the Concession Agreement.
The system will include the figure of Fund Collection and Trust Agent, by which the proceeds will be managed through a Trust Agreement with a bank which will provide the collector or the Financial Manager, 90 days after contract is signed.
10 companies participated in the preliminary meeting for bidding on the management of the Metro Bus system.
To the four companies which participated in the previous process, declared void on October 8th, the following companies joined: Unipago, TMS-Telemarca, Taborda Velez Transdata, King Holding and Cable & Wireless Panama.
Sonda, Confya, Panama Card and Metro Recaudo submitted bids to manage the Metro Bus transportation system.
The proposals ranged between $ 118 and $ 229 million.
"Today's event was attended by Ministers Jimmy Papadimitriu (Presidency), Federico Suarez (Public Works), Rómulo Roux (Canal Affairs) and the director of the Transit Authority and Land Transport, Jorge Ricardo Fabrega," reports Prensa.com.
The government will introduce in November a second bidding process for the installation and operation of a payment system for the public transport.
The first contest with participation of four companies, Sonda of Chile; Confya formed by Colombians, Venezuelans and Panamanians; Metrorecaudo of Panama and Colombia, and Panama Card, was declared vacated by the Transit and Land Transport Authority.
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