TIRUPATI URBAN DEVELOPMENT AUTHORITY - TIRUPATHI ...

Tirupathi Urban Development Authority
Within Seven (7) days from the date of issue of the LOA, the Selected Developer shall
accept the LOA return it to TUDA. The Selected Developer shall execute the
Development Agreement within forty-five (45) days of acceptance of LOA. In case, the
Selected Developer fails to do so it shall forfeit its Bid Security and the Bidder who
submitted the Third Proposal would be asked to match the Selected Developer’s offer
and sign the Development Agreement within the time stipulated herein above. If the
Bidder refuses to match the offer, its Bid Security shall not be forfeited.
5.12.3 In case the Section 5.10, Section 5.12.1 and Section 5.12.2 do not result in any of the
three top ranked Bidders or Original Project Proponent signing the Development
Agreement under commercial terms of Second Proposal or that of Original Project
Proponent, whichever is better, the Bidder who submitted the Second Proposal shall
forfeit its Bid Security and be relieved from the Bid process. At this stage, the Bidder who
submitted the Third Offer would be notified in writing by TUDA. Simultaneously, the
Original Project Proponent would also be notified of the Commercial Offer in writing. If the
Third Proposal is superior to the commercial terms of Original Project Proponent, the
same would be invited to match the terms of Third Proposal within time period similar to
that earlier used for Preferred Proposal. In the event that the Original Project Proponent
matches the Commercial Offer of the Third Proposal, TUDA shall issue the Letter of
Award (LOA) to the Original Project Proponent. If the Original Project Proponent is not
willing/ refuses to match the commercial terms of the Third Proposal, the Bidder who
submitted the Third Proposal shall be selected by TUDA for issuance of LOA. In the
event that the commercial terms of Original Project Proponent are superior to that of
Third Proposal, TUDA shall issue the LOA to the Original Project Proponent at terms
given by it in its commercial offer.
Within Seven (7) days from the date of issue of the LOA, the Selected Developer shall
accept the LOA and return it to TUDA. The Selected Developer shall execute the
Development Agreement within forty-five (45) days of acceptance of LOA. In case, the
Selected Developer fails to do so it shall forfeit its Bid Security.
TUDA reserves the right to give more time to the three top ranked Bidders; reject their
Bids; or invite fresh Bids. In such a case the entire bid security, if any, submitted by the
Selected Developer shall be forfeited. However, TUDA on receiving request from the
Selected Developer, may at its absolute discretion, permit extension of the aforesaid
period of forty-five (45) days for execution of the Development Agreement.
5.12.4 TUDA will notify other Bidders that their Bids have been unsuccessful. The Bid Security
of
• the Bidders who submitted the Preferred Proposal, Second Proposal and Third
Proposal, if the Original Project Proponent is the Selected Developer; or
• the Bidders who submitted the Second Proposal and Third Proposal, if the Selected
Developer is the Bidder who submitted the Preferred Proposal,
Request For Proposal
Development of Integrated Tourism Temple Township on Public Private Partnership Basis
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