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TradeReader : Contractor
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Contractor Tendering Tools
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Open Tenders:
whereby any interested supplier/contractor may submit a Tender
Limited Tenders or Close Tenders:
whereby any supplier/Contractor may request to participate. Only those who are
approved by the tendering authority may be allowed to participate in a Tender.
Rate contracts:
It is an agreement between tendering authority and one or more suppliers, the
purpose being to purchase commonly used items for a specific period of time(validity
of Agreement) at approved rates. The agreement may be for a particular product,
price and period
Forward Auctions:
It is a process to dispose or sale non-serviceable articles lying with the government
department. The bidders may be invited to participate in an Auction where the bidders
try to outbid a highest offer. The auction is held for a specific period of time
called auction hour(s)
Reverse Auction:
Reverse auction procedure can be utilized as an extension to the awarding phase
of a tendering procedure. The bidders may be invited to quote lower than the opened
prices to facilitate the tendering authority to get better prices to the tender.
Vendor Enlistment:
Is a process to enlist or empanel a supplier/contractor with a particular department,
which maintains a database of such enlistment or empanelment with products manufactured
or Category/class of works.
NIT: Notice Inviting Tender
Earnest Money Deposit (EMD):
"Earnest Money Deposit" means the amount required to be remitted by a tenderer
along with his tender indicating his willingness to implement the contract.
The tender documents shall require all tenderers without exception to pay an earnest
money deposit ordinarily not exceeding one per cent of the value of the procurement
by means of a demand draft, bankers cheque, specified small savings instruments
or where the procuring entity deems fit, irrevocable bank guarantee in a prescribed
form. The tender documents shall clearly state that any tender submitted without
the earnest money deposit in the approved form be summarily rejected provided that
any category of tenderers specifically exempted by the Government from the
payment of earnest money deposit will not be required to make such a deposit.
Security Deposit (SD):
The tender documents shall require that as a guarantee of the tenderer’s performance
of the contract, a security deposit be taken from the successful tenderer subject
to the conditions that -
(a) the amount of the deposit not exceeding five per cent of the value of the orders
placed: and
(b) the deposit being in the form of demand draft or bankers’ cheque or specified
small savings instruments or where the procuring entity deems fit, irrevocable bank
guarantee in a prescribed form
Tender Documents:
Tender Documents mainly contains Technical Specifications, Commercial Term & Conditions,
Bid Evaluation criteria, eligibility criteria, Technical Bid Formats , Price Bid
Formats, Formats of EMD & SD, Clarification to Tender Documents
Corrigendum:
At any time after the issue of the tender documents and before the opening of
the tender, the Tender Inviting Authority may make any changes, modifications or
amendments to the tender documents and shall send intimation of such change to all
those who have purchased the original tender documents and upload corrigendum for
the information of those who have downloaded the tender documents from the website.
Pre Bid Meeting:
After purchasing a tender document, if a Contractor seeks some clarifications
in some clauses mentioned in the tender document, he can raise the same at the time
of pre-bid meeting.
In this type of Tenders the contractors
are required to quote the rates for each item mentioned in the price bid. The quantity
to be executed is given in the price bid.
Percentage Rate Tenders:
In this type of Tenders a detailed estimate
of the quantity of work to be carried out along with the estimate rates is given
in the price bid form. The Bidders are required to quote the amount in percentage
above or below or at Par.
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