TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...

Tirupathi Urban Development Authority
4.3 Currency of Proposal and Payments
The currency for the purpose of the Proposal shall be Indian Rupee (INR). The
conversion to Indian Rupees for each year shall be based on the closing exchange rate
published by the Reserve Bank of India as on March 31 of each such year or the nearest
prior date for which the RBI rate is available. In all such cases, the original figures in the
relevant foreign currency and the INR equivalent thereof must be given. The exchange
rate(s) applied shall be clearly stated by the Bidder in the relevant Bid Response Sheets.
TUDA reserves the right to use any other suitable exchange rate for the purpose of
uniformly evaluating all Bidders.
4.4 Bid Security
4.4.1 Proposals would need to be accompanied by a Bid Security for an amount equal to
Rs.18.00 crores (Rupees Eighteen Crores only), valid for 60 (sixty) days beyond the Bid
Validity Period. The Bid Security shall be kept valid for 60 days beyond the Bid Validity
Period including any extensions in the Bid Validity Period as given in Sections 4.5 and
4.6 and would be required to be extended if so required by TUDA. Any extension of the
validity of the Bid Security as requested by TUDA shall be provided to TUDA, a minimum
of 7 (seven) calendar days prior to the expiry of the validity of the Bid Security being
extended. When an extension of the Bid Validity Period is requested, Bidders shall not be
permitted to change the terms and conditions of their Bids. TUDA reserves the right to
reject the Proposal submitted by any Bidder who fails to extend the validity of the Bid
Security in line with the provisions of this Section.
4.4.2 The Bid Security shall be in the form of an irrevocable Bank Guarantee issued by a Bank
in favour of Tirupati Urban Development Authority, as per the format set out in Exhibit 5.
For the purpose of providing Bid Security, the “Bank” shall have the meaning specified
below. Bank Guarantees issued by the following Banks would be accepted:
Banks
1. State Bank of India and its subsidiaries
2. Any Indian Nationalized Bank
3. IDBI or ICICI Bank
4. Foreign Bank (issued by a branch outside India) with a counter guarantee from SBI or its
subsidiaries or any Indian Nationalized Bank
5. Any scheduled Commercial Bank approved by RBI having a net worth of not less than
Rs. 1000 crores as on 31st March 2005, as per the latest published Annual Report of the
Bank. In case of a Foreign Bank (issued by a branch in India), the net worth in respect of
Indian operations shall only be taken into account.
The acceptance of the guarantee shall also be subject to the following conditions
1. The capital adequacy of the Bank shall not be less than the norms prescribed by RBI
(10% since 31st March 2003)
Request For Proposal
Development of Integrated Tourism Temple Township on Public Private Partnership Basis
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