The document provides recommendations from the PM Team on various tender clauses for an upcoming project. It recommends:
1) Reducing the Earnest Money Deposit to 1% of the contract value from the current 80 lacs to increase participation, and collecting a 50k non-refundable tender fee instead.
2) Reducing the defect liability period to 12 months from 24 months and returning the retention amount against a bank guarantee for the same amount.
3) Giving the tender to the lowest bidder or negotiating with all vendors without opening bids in front of them.
The document provides recommendations from the PM Team on various tender clauses for an upcoming project. It recommends:
1) Reducing the Earnest Money Deposit to 1% of the contract value from the current 80 lacs to increase participation, and collecting a 50k non-refundable tender fee instead.
2) Reducing the defect liability period to 12 months from 24 months and returning the retention amount against a bank guarantee for the same amount.
3) Giving the tender to the lowest bidder or negotiating with all vendors without opening bids in front of them.
The document provides recommendations from the PM Team on various tender clauses for an upcoming project. It recommends:
1) Reducing the Earnest Money Deposit to 1% of the contract value from the current 80 lacs to increase participation, and collecting a 50k non-refundable tender fee instead.
2) Reducing the defect liability period to 12 months from 24 months and returning the retention amount against a bank guarantee for the same amount.
3) Giving the tender to the lowest bidder or negotiating with all vendors without opening bids in front of them.
Sr No Tender clause Recommendation by PM Team Remarks
1 EMD of 1% is app 80lacs Option 1 -We recommend to reduce the
EMD to increase the participation, proposed to have a tender fees of app 50k (Non Refundable) with tender submission, upon successful bidding we can ask for bank guarantee of 2.5% of contract value . Option 2 -To stop unwanted bids we can ask for the Bank guarantee of 80lacs . 2 Defect liability period of The cost of this retention is indirectly 24months with retention amt going to be included in the item rate of of app 10% ( 2.5 +7.5%) the each item ,so proposes DLP of 12 months and return of retention amt against the bank guarantee for the same amt . 3 Tender Opening Process We recommend to Give L1 contractor or negotiate with all vendors without opening Infront of them. I/WE hereby declare that I/We will pay an additional security deposit in terms of conditions, the difference between 85% of ECV and my/our tender amount, in case if my / our offer is less than 15% as per clause 3.6
Communications between Legal Opinion to be taken
parties, which are referred to in the conditions, are effective only when in writing. A notice shall be effective only when it is delivered (in terms of Indian Contract Act) The contractor shall pay for any inspection fees and for permits required for the installation of the work wherever necessary. The institution shall arrange only for payment of service connection charges and any other security deposit for getting electrical supply. On completion of the work, the contractor shall obtain and deliver to the Registrar, IIIT, Gachibowli, Hyd, certificates of final inspection and approval by the local Electric Authority as may require. The institution shall have full powers to test the materials or work to be tested by an independent agency at the Electrical contractor’s expense in order to prove their soundness and adequacy.
LIFT Package Suspension of works by the Contractor: A.P.S.S Document