Property_Manu - Final - The New India Assurance Co. Ltd.

The New India Assurance Co.Ltd.(viii)(ix)(x)(xi)(xii)(xiii)(xiv)(xv)(xvi)(xvii)Consultant means an Architect or an individual, firm or corporate body appointedby the Company to render professional assistance and offer expert advice to theCompany in the nature of a service provided for the purpose of performing tasks orexecution of contract for procurement / job work.Tender document means a set of documents containing relevant information to thebidders to enable them to clearly understand the requirements of the tender andenable them to submit their tender as per requirements.Technical Bid is part of the Tender Document wherein information about the bidder’scapabilities/ expertise/ experience in executing similar job and related informationof the bidder.Commercial Bid/ Financial Bid is the part of the Tender Documents where the pricesfor the items/ services/ job are quoted based on specification prepared by theOrganization.Open Tender is a process of tendering where the Tender is thrown open to allconcerned and bids are called for through advertisement in the press and also inwebsite.Limited Tender is a process of tendering wherein invitation to participate in thetender is given to empanelled vendors who have been selected through an earlierprocess of open tendering or such vendors who have been selected for anyparticular job/ work/ purchase duly approved by the Competent Authority.Single Tender is resorted to in the case of procurement of proprietary items and thetender is directly addressed to the manufacturer or his authorized distributor/Channel partner.Earnest Money Deposit (EMD) or Tender Deposit means an amount specified inthe Tender Document, which is required to be deposited by the bidder along withthe Bids in the manner prescribed in the tender Documents.Liquidated Damages is a penalty levied on the vendor for non-performance of hisobligations under the Contract and normally levied as a percentage of the value ofthe order.CVC Guidelines are guidelines issued by the Central Vigilance Commission, NewDelhi communicated from time to time as far as it relates to this procedure.100 MANUAL ON ESTATE & ESTABLISHMENT