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

The New India Assurance Co.Ltd.The retention money, depending upon the nature of work should be refunded after 3 months/6months/1 monsoon/1 year.The retention money is to be refunded after satisfactory performance of the works executed andrectification of defects noticed during that period.Public Tender Notice: The public tender notice could be either for issuing directly blank tenderset based on the details furnished by the contractor in his application or for pre-qualification ofcontractors.If the notice is for pre-qualification, the intending contractors:-(1) Must have carried out works during the last 3 years amounting to more than or atleastequal to the estimated cost OR during the past 3 years, the contractor must have executedatleast one work costing more than 50% of the estimated cost.(2) Registrations with Government organization, if any, must be furnished.(3) Registration with Income Tax Dept must be furnished (PAN).(4) Copies of I.T. Returns of the previous financial year must be furnished.(5) Details of manpower – skill-wise(6) Nature of his Company and the necessary copy of Power of Attorney of the actingExecutive.(7) Earnest Money Deposit.The Committee while considering the applications for pre-qualification, details should be verified& should also inspect some of the major works executed to assess the standard of execution.The notified PQT (Pre-Qualification Tender) criteria should not change. The comparative statementshould be prepared & signed by tender-opening committee members.On considering all the details, the Committee/Dept should identify suitable contractors to bekept on panel for issuing price-bids.The deposit amount of the paneled contractors will not be refunded till the entire tender processis completed.Once a bidder has been pre-qualified, no further rejection at any stage for any reason shouldtake place.112 MANUAL ON ESTATE & ESTABLISHMENT