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

The New India Assurance Co.Ltd.iv.The estimated cost of a job should be worked out as under:a. Estimated valueb. Contingency – Calculated at the rate of maximum 15% relating to Schedule andNon-Schedule items required for completion of the job, if any. This clause shouldbe included in General Terms and Conditions of the Contract.c. Consultant fees, if any, should be taken into account for approval from the CompetentAuthority.Tendering Process- Open/ Limited – Open TenderAll job work i.e. Revenue Expenditure exceeding Rs.15 lac and purchases i.e. CapitalExpenditure exceeding Rs.2 lacs and above should be made only through OPEN TENDER.Tenders shall be invited through the press and shall consist of two bids- Technical and Financial.Limited Tenderi. Job/ work upto Rs.15 lacs and that of purchases upto Rs.2 lacs (estimated value) may bemade through Limited Tender. The tenders for job/work shall be invited from the empanelledvendors in case such empanelment has been already done and is current and valid,otherwise empanelment should be done afresh. The panel of contractor should be updatedin every two years by including new names of the contractors who have applied forempanelment and deleting the name of those whose performance is not satisfactory. Thetender process of obtaining financial bids should be followed.ii.For extremely urgent requirements of individual job/ work/ purchase the department maydirectly purchase the same or get the job/work done by/ from any empanelled vendor/ firmof repute as described above subject to approval from CMD.Following are the criteria in determining the urgency.Urgent:· Court or similar Authority’s Order.· Ministerial Instruction/ programme· Imminent danger to human life· Safety of premises· Prevent further damage to any structure/ building due to accident.104 MANUAL ON ESTATE & ESTABLISHMENT